Doubleline Flexible Correlations

DFFLX Fund

USD 8.71 0.03 0.34%

The current 90-days correlation between Doubleline Flexible and Dreyfusstandish Global Fixed is 0.53 (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

Significant diversification

The correlation between Doubleline Flexible Income and DJI is 0.04 (i.e., Significant 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 bureau of economic analysis.

Moving together with Doubleline Mutual Fund

0.85	DLFRX	Doubleline Floating Rate	Pair Corr
0.97	DLINX	Doubleline Flexible	Pair Corr
0.8	DSENX	Doubleline Shiller	Pair Corr
0.8	DSEEX	Doubleline Shiller	Pair Corr
0.87	DBFRX	Doubleline Floating Rate	Pair Corr
0.89	DBLNX	Doubleline Income	Pair Corr
0.85	DBLLX	Doubleline Low Duration	Pair Corr
0.95	DBLIX	Doubleline Income	Pair Corr
0.8	DDCPX	Doubleline Shiller	Pair Corr
0.85	DELNX	Doubleline Low Duration	Pair Corr
0.99	DFLEX	Doubleline Flexible	Pair Corr

Moving against Doubleline Mutual Fund

0.62	DLLDX	Doubleline Long Duration	Pair Corr
0.6	DLGBX	Doubleline Global Bond	Pair Corr
0.6	DBLGX	Doubleline Global Bond	Pair Corr
0.54	DLEUX	Doubleline Shiller	Pair Corr
0.54	DSEUX	Doubleline Shiller	Pair Corr
0.52	DLTNX	Doubleline Total Return	Pair Corr
0.52	DBLTX	Doubleline Total Return	Pair Corr
0.47	DLFNX	Doubleline E Fixed	Pair Corr
0.4	DLELX	Doubleline Emerging	Pair Corr
0.39	DBELX	Doubleline Emerging	Pair Corr
0.37	DLMOX	Doubleline Multi Asset	Pair Corr
0.35	BILTX	Doubleline Infrastructure	Pair Corr
0.33	BILDX	Doubleline Infrastructure	Pair Corr
0.84	USPSX	Profunds Ultrashort	Pair Corr
0.84	USPIX	Profunds Ultrashort	Pair Corr
0.82	UIPIX	Ultrashort Mid Cap	Pair Corr
0.62	DBLDX	Doubleline Long Duration	Pair Corr
0.51	DDTRX	Doubleline Total Return	Pair Corr
0.46	DBLFX	Doubleline E Fixed	Pair Corr
0.46	DDCFX	Doubleline Core Fixed	Pair Corr
0.37	DBMOX	Doubleline Multi Asset	Pair Corr

Related Correlations Analysis

	DHGCX	WRLDX	DHGAX	MGGNX	CNGLX	CABIX	AGAZX	GGESX
DHGCX		-0.22	1.0	0.67	0.02	0.5	-0.28	-0.14	DHGCX
WRLDX	-0.22		-0.19	0.35	0.74	0.52	0.65	0.85	WRLDX
DHGAX	1.0	-0.19		0.7	0.03	0.52	-0.28	-0.12	DHGAX
MGGNX	0.67	0.35	0.7		0.24	0.7	0.03	0.29	MGGNX
CNGLX	0.02	0.74	0.03	0.24		0.59	0.65	0.82	CNGLX
CABIX	0.5	0.52	0.52	0.7	0.59		0.59	0.67	CABIX
AGAZX	-0.28	0.65	-0.28	0.03	0.65	0.59		0.73	AGAZX
GGESX	-0.14	0.85	-0.12	0.29	0.82	0.67	0.73		GGESX
	DHGCX	WRLDX	DHGAX	MGGNX	CNGLX	CABIX	AGAZX	GGESX

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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

DHGAX	+ 1.0	DHGCX
GGESX	+ 0.85	WRLDX
GGESX	+ 0.82	CNGLX
CNGLX	+ 0.74	WRLDX
GGESX	+ 0.73	AGAZX
MGGNX	+ 0.7	DHGAX

High negative correlations

AGAZX	- 0.28	DHGAX
AGAZX	- 0.28	DHGCX
WRLDX	- 0.22	DHGCX
DHGAX	- 0.19	WRLDX
GGESX	- 0.14	DHGCX
GGESX	- 0.12	DHGAX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DHGCX	0.16	0.00	(0.68)	0.37	0.16	(0.19)	0.35	(0.25)	0.96
WRLDX	0.49	(0.02)	(0.13)	0.09	0.45	(0.55)	0.92	(0.97)	2.75
DHGAX	0.17	0.00	(0.68)	0.16	0.15	(0.20)	0.34	(0.24)	0.98
MGGNX	0.20	0.02	(0.38)	0.92	0.13	(0.26)	0.46	(0.34)	1.13
CNGLX	0.54	(0.10)	(0.15)	0.00	0.78	(0.52)	1.04	(1.18)	3.68
CABIX	0.31	(0.02)	(0.24)	0.07	0.35	(0.34)	0.57	(0.72)	1.86
AGAZX	0.31	(0.05)	(0.34)	(0.01)	0.34	(0.39)	0.64	(0.62)	2.03
GGESX	0.60	(0.06)	(0.09)	0.06	0.80	(0.61)	1.12	(1.36)	3.48

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