Doubleline Shiller Correlations

The correlation of Doubleline Shiller 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.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Doubleline Mutual Fund

0.93	GPICX	Guidepath Conservative	Pair Corr
0.86	FPXIX	Fidelity Advisor 529	Pair Corr
0.84	GE	GE Aerospace	Pair Corr
0.64	DD	Dupont De Nemours	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.73	AXP	American Express	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr

Moving against Doubleline Mutual Fund

0.77	VZ	Verizon Communications	Pair Corr
0.69	PG	Procter Gamble	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.58	BA	Boeing	Pair Corr
0.48	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.45	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr
0.31	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	CAEIX	XGNTX	AIWEX	IGNAX	CGAEX	ENPSX	PNRCX
CAEIX		0.51	0.85	0.84	1.0	-0.13	0.83	CAEIX
XGNTX	0.51		0.67	0.85	0.51	0.08	0.83	XGNTX
AIWEX	0.85	0.67		0.9	0.85	0.18	0.92	AIWEX
IGNAX	0.84	0.85	0.9		0.83	0.0	0.98	IGNAX
CGAEX	1.0	0.51	0.85	0.83		-0.13	0.83	CGAEX
ENPSX	-0.13	0.08	0.18	0.0	-0.13		0.0	ENPSX
PNRCX	0.83	0.83	0.92	0.98	0.83	0.0		PNRCX
	CAEIX	XGNTX	AIWEX	IGNAX	CGAEX	ENPSX	PNRCX

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

CGAEX	+ 1.0	CAEIX
PNRCX	+ 0.98	IGNAX
PNRCX	+ 0.92	AIWEX
IGNAX	+ 0.9	AIWEX
AIWEX	+ 0.85	CAEIX
IGNAX	+ 0.85	XGNTX

High negative correlations

ENPSX	- 0.13	CGAEX
ENPSX	- 0.13	CAEIX
PNRCX	- 0.0	ENPSX
ENPSX	- 0.0	IGNAX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Shiller 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 Shiller'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CAEIX	0.72	0.03	0.02	0.05	1.03	(0.70)	1.42	(1.83)	4.38
XGNTX	0.58	0.04	0.04	0.11	0.77	(0.59)	1.03	(1.41)	3.24
AIWEX	0.83	0.06	0.05	0.10	1.11	(0.82)	1.57	(1.68)	5.69
IGNAX	0.75	0.10	0.07	0.15	1.16	(0.74)	1.56	(2.10)	5.41
CGAEX	0.72	0.01	0.01	0.03	1.00	(0.71)	1.43	(1.86)	4.38
ENPSX	1.33	0.01	0.00	0.04	1.76	(1.28)	2.50	(2.77)	7.06
PNRCX	0.90	0.14	0.09	0.19	1.32	(0.90)	1.96	(2.62)	6.80

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