Doubleline Emerging Correlations

DBELX Fund

USD 8.52 0.04 0.47%

The current 90-days correlation between Doubleline Emerging and Ep Emerging Markets is 0.46 (i.e., Very weak diversification). The correlation of Doubleline Emerging 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 Emerging Correlation With Market

Significant diversification

The correlation between Doubleline Emerging Markets and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Emerging Markets 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 Emerging Markets. 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 bureau of economic analysis.

Moving together with Doubleline Mutual Fund

0.7	DLENX	Doubleline Emerging	Pair Corr
0.89	DLFNX	Doubleline E Fixed	Pair Corr
0.91	DLEUX	Doubleline Shiller	Pair Corr
0.8	DLLDX	Doubleline Long Duration	Pair Corr
0.85	DLTNX	Doubleline Total Return	Pair Corr
0.88	BILTX	Doubleline Infrastructure	Pair Corr
0.92	DSEUX	Doubleline Shiller	Pair Corr
0.85	DBLTX	Doubleline Total Return	Pair Corr
0.93	DBLGX	Doubleline Global Bond	Pair Corr
0.8	DBLDX	Doubleline Long Duration	Pair Corr
0.88	DDCFX	Doubleline Core Fixed	Pair Corr
0.96	PLMPX	Pimco Emerging Markets	Pair Corr
0.96	PLMIX	Pimco Emerging Markets	Pair Corr
0.99	PELPX	Pimco Emerging Local	Pair Corr
0.99	PELBX	Pimco Emerging Local	Pair Corr
0.99	PELAX	Pimco Emerging Local	Pair Corr
0.99	PELCX	Pimco Emerging Local	Pair Corr
0.99	PELNX	Pimco Emerging Local	Pair Corr
0.99	EEIIX	Eaton Vance Emerging	Pair Corr
0.99	EEICX	Eaton Vance Emerging	Pair Corr
0.99	EEIAX	Eaton Vance Emerging	Pair Corr
0.62	XDSMX	Dreyfus Strategic	Pair Corr
0.78	XNXJX	Nuveen New Jersey	Pair Corr
0.79	NXJ	Nuveen New Jersey	Pair Corr

Moving against Doubleline Mutual Fund

0.79	DLFRX	Doubleline Floating Rate	Pair Corr
0.75	DBFRX	Doubleline Floating Rate	Pair Corr
0.63	DSENX	Doubleline Shiller	Pair Corr
0.36	DLINX	Doubleline Flexible	Pair Corr
0.74	TLCYX	Touchstone Large Cap	Pair Corr
0.68	XPPRX	Voya Prime Rate	Pair Corr
0.62	WWLAX	Westwood Largecap Value	Pair Corr
0.62	SAGAX	Ridgeworth Innovative	Pair Corr
0.6	AMEIX	Equity Growth	Pair Corr
0.6	MLMAX	Global E Portfolio	Pair Corr
0.58	AMGIX	Income Growth	Pair Corr
0.57	VFIAX	Vanguard 500 Index	Pair Corr
0.57	VFINX	Vanguard 500 Index	Pair Corr
0.53	DFMAX	Davidson Multi Cap	Pair Corr
0.5	XNKGX	Nuveen Georgia Quality	Pair Corr
0.47	PCF	Putnam High Income	Pair Corr

Related Correlations Analysis

	EPASX	HIIDX	LOTCX	REMVX	BXECX	APDOX	EMSLX	POEIX
EPASX		0.71	-0.32	0.98	0.71	0.39	0.96	0.93	EPASX
HIIDX	0.71		0.27	0.79	0.82	-0.04	0.74	0.6	HIIDX
LOTCX	-0.32	0.27		-0.25	0.22	-0.35	-0.24	-0.41	LOTCX
REMVX	0.98	0.79	-0.25		0.73	0.35	0.97	0.93	REMVX
BXECX	0.71	0.82	0.22	0.73		0.33	0.7	0.63	BXECX
APDOX	0.39	-0.04	-0.35	0.35	0.33		0.42	0.61	APDOX
EMSLX	0.96	0.74	-0.24	0.97	0.7	0.42		0.93	EMSLX
POEIX	0.93	0.6	-0.41	0.93	0.63	0.61	0.93		POEIX
	EPASX	HIIDX	LOTCX	REMVX	BXECX	APDOX	EMSLX	POEIX

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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

REMVX	+ 0.98	EPASX
EMSLX	+ 0.97	REMVX
EMSLX	+ 0.96	EPASX
POEIX	+ 0.93	EPASX
POEIX	+ 0.93	REMVX
POEIX	+ 0.93	EMSLX

High negative correlations

POEIX	- 0.41	LOTCX
APDOX	- 0.35	LOTCX
LOTCX	- 0.32	EPASX
REMVX	- 0.25	LOTCX
EMSLX	- 0.24	LOTCX
APDOX	- 0.04	HIIDX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Emerging 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 Emerging'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
EPASX	0.73	(0.01)	(0.11)	0.06	0.99	(0.77)	1.52	(1.67)	6.54
HIIDX	0.64	(0.10)	0.00	(0.06)	0.00	0.00	1.26	(1.49)	4.09
LOTCX	0.64	(0.12)	0.00	(0.04)	0.00	0.00	1.09	(1.30)	4.17
REMVX	0.85	(0.07)	0.00	(0.05)	0.00	0.00	1.74	(2.04)	6.85
BXECX	0.26	(0.01)	(0.37)	0.06	0.23	(0.37)	0.65	(0.40)	1.45
APDOX	0.15	0.01	(0.47)	0.21	0.08	(0.21)	0.39	(0.20)	1.45
EMSLX	0.75	(0.09)	0.00	(0.28)	0.00	0.00	1.76	(2.14)	6.36
POEIX	0.76	(0.05)	(0.11)	0.03	0.94	(0.84)	1.54	(1.82)	5.70

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