DBL vs WDI: Correlation
DoubleLine Opportunistic Credit Fund (DBL) and Western Asset Diversified Income Fund (WDI) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBL and WDI?
On 3 years of weekly data the DBL/WDI correlation comes out at 0.61, strong. Lately the two have drifted apart, with the 1-year correlation at 0.50 versus 0.61 over 3 years. The 5-year figure is 0.52, and annualized covariance runs at 49.7 %².
Among the 10 assets we track against DBL, WDI ranks #4 by 3-year correlation. Neither side won the trailing year by much: -0.5% against -2.3%. Risk is not evenly split, since WDI carries 1.7 times the volatility of the other side.
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 WDI: side by side
| DBL (DoubleLine Opportunistic Credit Fund) | WDI (Western Asset Diversified Income Fund) | |
|---|---|---|
| 1-year return | -0.5% | -2.3% |
| 5-year return | +10.1% | +14.7% |
| Volatility (ann.) | 6.9% | 11.7% |
| Beta vs S&P 500 | 0.17 | 0.46 |
| Max drawdown (3Y) | -5.7% | -14.1% |
| Market cap | – | $0.7B |
| P/E (trailing) | 21.1 | 9.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBL | WDI |
|---|---|---|
| 2022 | -15.8% | -23.3% |
| 2023 | +13.1% | +25.1% |
| 2024 | +10.0% | +13.9% |
| 2025 | +7.2% | +10.7% |
| 2026 | -1.4% | +0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBL and WDI good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DBL and WDI?
The DBL/WDI correlation stands at 0.61 on a 3-year window (1 year: 0.50, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is WDI a good diversifier for DBL?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
A reading of 0.61 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dbl-vs-wdi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dbl-vs-wdi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DBL correlations · WDI correlations
