Doubleline Flexible Correlations

Mutual Funds . USA . 
Fund . Doubleline Flexible Income
DFLEX Fund  USD 8.78  0.01  0.11%   
The current 90-days correlation between Doubleline Flexible and Doubleline Flexible Income is 0.58 (i.e., Very weak diversification). The correlation of Doubleline Flexible 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 Flexible Correlation With Market

Weak diversification

The correlation between Doubleline Flexible Income and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Flexible Income 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 Flexible Income. 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 banks.

Moving together with Doubleline Mutual Fund

  0.76DLENX Doubleline EmergingPairCorr
  0.92DLELX Doubleline EmergingPairCorr
  0.95DLFRX Doubleline Floating RatePairCorr
  0.91DLFNX Doubleline E FixedPairCorr
  0.93DLEUX Doubleline ShillerPairCorr
  0.7DLGBX Doubleline Global BondPairCorr
  0.99DLINX Doubleline FlexiblePairCorr
  0.88DLLDX Doubleline Long DurationPairCorr
  0.98DLSNX Doubleline Low DurationPairCorr
  0.94DLTNX Doubleline Total ReturnPairCorr
  0.9BILTX Doubleline InfrastructurePairCorr
  0.91BILDX Doubleline InfrastructurePairCorr
  0.93DSEUX Doubleline ShillerPairCorr
  0.92DBELX Doubleline EmergingPairCorr
  0.95DBFRX Doubleline Floating RatePairCorr
  0.93DBLTX Doubleline Total ReturnPairCorr
  0.99DBLSX Doubleline Low DurationPairCorr
  0.96DBLNX Doubleline IncomePairCorr
  0.96DBLLX Doubleline Low DurationPairCorr
  0.96DBLIX Doubleline IncomePairCorr
  0.79DBLEX Doubleline EmergingPairCorr
  0.74DBLGX Doubleline Global BondPairCorr
  0.92DBLFX Doubleline E FixedPairCorr
  0.88DBLDX Doubleline Long DurationPairCorr
  0.98DBSCX Doubleline SelectivePairCorr
  0.92DDCFX Doubleline Core FixedPairCorr
  0.98DDLDX Doubleline Low DurationPairCorr
  0.93DDTRX Doubleline Total ReturnPairCorr
  0.96DELNX Doubleline Low DurationPairCorr
  0.99DFFLX Doubleline FlexiblePairCorr
  0.97PONAX Pimco IncomePairCorr
  0.97PONCX Pimco IncomePairCorr
  0.98PIPNX Pimco IncomePairCorr
  0.98PONRX Pimco IncomePairCorr

Moving against Doubleline Mutual Fund

  0.36DSENX Doubleline ShillerPairCorr
  0.36DSEEX Doubleline ShillerPairCorr
  0.36DDCPX Doubleline ShillerPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Flexible 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 Flexible'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DLINX  0.06  0.01 (0.45) 0.39  0.00 
(0.13)
 0.12 
(0.11)
 0.35 
WSHNX  0.06  0.00 (0.70) 0.26  0.00 
(0.16)
 0.17 
(0.08)
 0.50 
LZHOX  0.12  0.01 (0.28) 0.16  0.00 
(0.15)
 0.33 
(0.21)
 0.97 
BDHIX  0.25  0.03 (0.10)(0.57) 0.27 
(0.29)
 0.56 
(0.34)
 2.14 
ETIHX  1.02  0.29  0.24  0.43  0.75 
(1.15)
 2.71 
(1.90)
 5.62 
FAFWX  0.20  0.01 (0.16) 0.09  0.14 
(0.24)
 0.40 
(0.39)
 1.35 
JHYRX  0.15  0.00 (0.23) 0.07  0.03 
(0.22)
 0.40 
(0.27)
 0.95 
JHYAX  0.17  0.02 (0.19)(0.80) 0.09 
(0.24)
 0.41 
(0.40)
 1.08 
JAHYX  0.17  0.00 (0.21) 0.08  0.06 
(0.25)
 0.41 
(0.27)
 1.08 
JHYNX  0.16  0.00 (0.21) 0.09  0.00 
(0.28)
 0.41 
(0.27)
 1.08 

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