DBL vs JGH: Correlation
How closely do DoubleLine Opportunistic Credit Fund (DBL) and Nuveen Global High Income Fund (JGH) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBL and JGH?
Across a 3-year window, the weekly returns of DBL and JGH correlate at 0.60, strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.60). Stretching to 5 years gives 0.43, with an annualized covariance of 52.5 %².
Among the 10 assets we track against DBL, JGH ranks #5 by 3-year correlation. Their 12-month results are close: -0.5% for DBL against +1.3% for JGH. Note the risk asymmetry: JGH runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DBL vs JGH: side by side
| DBL (DoubleLine Opportunistic Credit Fund) | JGH (Nuveen Global High Income Fund) | |
|---|---|---|
| 1-year return | -0.5% | +1.3% |
| 5-year return | +10.1% | +26.7% |
| Volatility (ann.) | 6.9% | 12.7% |
| Beta vs S&P 500 | 0.17 | 0.51 |
| Max drawdown (3Y) | -5.7% | -13.7% |
| Market cap | – | $0.3B |
| P/E (trailing) | 21.1 | 10.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBL | JGH |
|---|---|---|
| 2022 | -15.8% | -21.0% |
| 2023 | +13.1% | +20.9% |
| 2024 | +10.0% | +16.0% |
| 2025 | +7.2% | +8.2% |
| 2026 | -1.4% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBL and JGH good diversifiers for each other?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DBL and JGH?
The DBL/JGH correlation stands at 0.60 on a 3-year window (1 year: 0.49, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is JGH a good diversifier for DBL?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.60 mean?
A reading of 0.60 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DBL correlations · JGH correlations
