Doubleline Shiller Correlations

DLEUX Fund

USD 12.48 0.15 1.19%

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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Doubleline Shiller moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Doubleline Shiller Enhanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Poor diversification

The correlation between Doubleline Shiller Enhanced and NYA is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Shiller Enhanced and NYA 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 Shiller Enhanced. 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 employment.

The ability to find closely correlated positions to Doubleline Shiller could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Doubleline Shiller when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Doubleline Shiller - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Doubleline Shiller Enhanced to buy it.

Moving together with Doubleline Mutual Fund

0.92	DLENX	Doubleline Emerging	Pair Corr
0.72	DLFNX	Doubleline E Fixed	Pair Corr
0.73	DLINX	Doubleline Flexible	Pair Corr
0.71	DLSNX	Doubleline Low Duration	Pair Corr
0.68	DLTNX	Doubleline Total Return	Pair Corr
0.88	BILTX	Doubleline Infrastructure	Pair Corr
0.88	BILDX	Doubleline Infrastructure	Pair Corr
1.0	DSEUX	Doubleline Shiller	Pair Corr
0.63	DSENX	Doubleline Shiller	Pair Corr
0.63	DSEEX	Doubleline Shiller	Pair Corr

Related Correlations Analysis

	DLCMX	DLENX	DLELX	DLFRX	DLFNX	DLEUX	DLGBX	DLINX	DLLDX	DLMOX
DLCMX		-0.26	-0.28	0.06	-0.62	-0.32	-0.54	0.0	-0.67	0.31	DLCMX
DLENX	-0.26		0.54	0.55	0.76	0.92	0.51	0.73	0.63	0.65	DLENX
DLELX	-0.28	0.54		-0.28	0.74	0.49	0.9	-0.1	0.75	0.45	DLELX
DLFRX	0.06	0.55	-0.28		0.01	0.59	-0.35	0.95	-0.16	0.23	DLFRX
DLFNX	-0.62	0.76	0.74	0.01		0.72	0.89	0.23	0.97	0.41	DLFNX
DLEUX	-0.32	0.92	0.49	0.59	0.72		0.48	0.73	0.59	0.52	DLEUX
DLGBX	-0.54	0.51	0.9	-0.35	0.89	0.48		-0.15	0.92	0.3	DLGBX
DLINX	0.0	0.73	-0.1	0.95	0.23	0.73	-0.15		0.06	0.4	DLINX
DLLDX	-0.67	0.63	0.75	-0.16	0.97	0.59	0.92	0.06		0.33	DLLDX
DLMOX	0.31	0.65	0.45	0.23	0.41	0.52	0.3	0.4	0.33		DLMOX
	DLCMX	DLENX	DLELX	DLFRX	DLFNX	DLEUX	DLGBX	DLINX	DLLDX	DLMOX

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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

DLLDX	+ 0.97	DLFNX
DLINX	+ 0.95	DLFRX
DLEUX	+ 0.92	DLENX
DLLDX	+ 0.92	DLGBX
DLGBX	+ 0.9	DLELX
DLGBX	+ 0.89	DLFNX

High negative correlations

DLLDX	- 0.67	DLCMX
DLFNX	- 0.62	DLCMX
DLGBX	- 0.54	DLCMX
DLGBX	- 0.35	DLFRX
DLEUX	- 0.32	DLCMX
DLFRX	- 0.28	DLELX

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
DLCMX	0.50	0.00	0.00	0.09	0.64	(0.55)	1.04	(1.16)	3.23
DLENX	0.15	0.01	0.01	0.11	0.10	(0.19)	0.34	(0.34)	1.02
DLELX	0.36	(0.06)	0.00	(0.12)	0.00	0.00	0.69	(0.82)	2.86
DLFRX	0.07	0.02	0.00	2.56	0.00	0.00	0.11	0.00	1.10
DLFNX	0.26	(0.02)	0.00	(0.07)	0.00	0.00	0.45	(0.55)	1.44
DLEUX	0.59	0.05	0.07	0.07	0.66	(0.65)	1.12	(1.23)	3.62
DLGBX	0.27	(0.04)	0.00	(0.11)	0.00	0.00	0.49	(0.61)	1.46
DLINX	0.09	0.02	0.06	0.62	0.00	(0.15)	0.23	(0.12)	0.70
DLLDX	0.61	(0.05)	0.00	(0.10)	0.00	0.00	1.09	(1.60)	3.13
DLMOX	0.39	0.00	(0.01)	0.01	0.50	(0.45)	0.88	(0.90)	2.91

Other Information on Investing in Doubleline Mutual Fund

Doubleline Shiller financial ratios help investors to determine whether Doubleline Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Doubleline with respect to the benefits of owning Doubleline Shiller security.

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