Doubleline Low Correlations

DELNX Fund

USD 9.73 0.01 0.10%

The current 90-days correlation between Doubleline Low Duration and Doubleline Emerging Markets is 0.63 (i.e., Poor diversification). The correlation of Doubleline Low is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Doubleline Low Correlation With Market

Modest diversification

The correlation between Doubleline Low Duration and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Low Duration and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Doubleline Low Duration. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Doubleline Mutual Fund

0.99	DLENX	Doubleline Emerging	Pair Corr
0.98	DLFRX	Doubleline Floating Rate	Pair Corr
0.83	DLFNX	Doubleline E Fixed	Pair Corr
0.77	DLEUX	Doubleline Shiller	Pair Corr
0.99	DLINX	Doubleline Flexible	Pair Corr
0.98	DLSNX	Doubleline Low Duration	Pair Corr
0.7	DLTNX	Doubleline Total Return	Pair Corr
0.94	DSENX	Doubleline Shiller	Pair Corr
0.94	DSEEX	Doubleline Shiller	Pair Corr
0.98	DBELX	Doubleline Emerging	Pair Corr
0.98	DBFRX	Doubleline Floating Rate	Pair Corr
0.76	DBLTX	Doubleline Total Return	Pair Corr
0.98	DBLSX	Doubleline Low Duration	Pair Corr
1.0	DBLLX	Doubleline Low Duration	Pair Corr
0.99	DBLEX	Doubleline Emerging	Pair Corr
0.77	DBLGX	Doubleline Global Bond	Pair Corr
0.84	DDCFX	Doubleline Core Fixed	Pair Corr
0.98	FGBMX	Fidelity New Markets	Pair Corr
0.97	FGZMX	Fidelity New Markets	Pair Corr
0.97	FGWMX	Fidelity New Markets	Pair Corr
0.97	FGVMX	Fidelity New Markets	Pair Corr
0.97	FGYMX	Fidelity New Markets	Pair Corr
0.98	MEDIX	Mfs Emerging Markets	Pair Corr
0.98	MEDCX	Mfs Emerging Markets	Pair Corr
0.98	MEDAX	Mfs Emerging Markets	Pair Corr
0.98	MEDBX	Mfs Emerging Markets	Pair Corr
0.98	MEDEX	Mfs Emerging Markets	Pair Corr
0.97	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.97	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.81	EMO	Clearbridge Energy Mlp	Pair Corr
0.61	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.65	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.61	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.96	RSNYX	Victory Global Natural	Pair Corr
0.64	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.96	RSNRX	Victory Global Natural	Pair Corr
0.64	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.96	FEFAX	First Eagle Fund	Pair Corr

Related Correlations Analysis

	DLENX	DLSNX	DLFRX	DLINX	DMLAX
DLENX		0.97	0.98	0.99	0.0	DLENX
DLSNX	0.97		0.95	0.97	0.0	DLSNX
DLFRX	0.98	0.95		0.98	0.0	DLFRX
DLINX	0.99	0.97	0.98		0.0	DLINX
DMLAX	0.0	0.0	0.0	0.0		DMLAX
	DLENX	DLSNX	DLFRX	DLINX	DMLAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DLINX	+ 0.99	DLENX
DLFRX	+ 0.98	DLENX
DLINX	+ 0.98	DLFRX
DLSNX	+ 0.97	DLENX
DLINX	+ 0.97	DLSNX
DLFRX	+ 0.95	DLSNX

High negative correlations

DMLAX	- 0.0	DLINX
DMLAX	- 0.0	DLFRX
DMLAX	- 0.0	DLSNX
DMLAX	- 0.0	DLENX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Low Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Doubleline Low's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DLENX	0.10	0.04	(0.71)	1.04	(0.17)	0.23	(0.11)	0.57
DLSNX	0.07	0.02	(1.09)	(6.28)	(0.11)	0.11	(0.10)	0.32
DLFRX	0.08	0.00	0.00	0.00	0.00	0.23	(0.11)	0.57
DLINX	0.07	0.03	(0.89)	(12.81)	(0.12)	0.12	(0.12)	0.35
DMLAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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