Dunham Us Correlations

DNSPX Fund

16.21 0.17 1.06%

The current 90-days correlation between Dunham Enhanced Market and Dunham Dynamic Macro is 0.01 (i.e., Significant diversification). The correlation of Dunham Us 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.

Dunham Us Correlation With Market

Very poor diversification

The correlation between Dunham Enhanced Market and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Enhanced Market 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 Dunham Enhanced Market. 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 metropolitan statistical area.

Moving together with Dunham Mutual Fund

0.76	DNAIX	Dunham Appreciation	Pair Corr
0.81	DNCGX	Dunham Porategovernment	Pair Corr
0.88	DNDGX	Dunham Small Cap	Pair Corr
0.97	DNEMX	Dunham Emerging Markets	Pair Corr
0.62	DNFGX	Dunham Focused Large	Pair Corr
0.84	DNIOX	Dunham International	Pair Corr
0.94	DNINX	Dunham International	Pair Corr
0.9	DNLVX	Dunham Large Cap	Pair Corr
0.67	DNMDX	Dunham Monthly Distr	Pair Corr
0.79	DAAIX	Dunham Appreciation	Pair Corr
0.84	DACGX	Dunham Porategovernment	Pair Corr
0.86	DADGX	Dunham Small Cap	Pair Corr
0.93	DAEMX	Dunham Emerging Markets	Pair Corr
0.61	DAFGX	Dunham Focused Large	Pair Corr
0.82	DAIOX	Dunham International	Pair Corr
0.94	DAINX	Dunham International	Pair Corr
0.9	DALVX	Dunham Large Cap	Pair Corr
0.66	DAMDX	Dunham Monthly Distr	Pair Corr
1.0	DASPX	Dunham Enhanced Market	Pair Corr
0.64	DCAIX	Dunham Appreciation	Pair Corr
0.79	DCCGX	Dunham Porategovernment	Pair Corr
0.87	DCDGX	Dunham Small Cap	Pair Corr
0.97	DCEMX	Dunham Emerging Markets	Pair Corr
0.86	DCIOX	Dunham International	Pair Corr
0.94	DCINX	Dunham International	Pair Corr

Related Correlations Analysis

	DNAVX	DNAIX	DNCGX	DNDGX	DNEMX	DNFGX	DNFRX	DNIOX	DNINX	DNHYX
DNAVX		0.37	0.53	0.37	0.19	0.28	-0.13	0.2	0.18	0.37	DNAVX
DNAIX	0.37		0.85	0.7	0.76	0.37	0.26	0.86	0.73	0.44	DNAIX
DNCGX	0.53	0.85		0.75	0.82	0.37	0.16	0.82	0.8	0.53	DNCGX
DNDGX	0.37	0.7	0.75		0.84	0.76	0.04	0.65	0.75	0.61	DNDGX
DNEMX	0.19	0.76	0.82	0.84		0.57	0.26	0.84	0.95	0.52	DNEMX
DNFGX	0.28	0.37	0.37	0.76	0.57		-0.06	0.32	0.42	0.47	DNFGX
DNFRX	-0.13	0.26	0.16	0.04	0.26	-0.06		0.52	0.44	0.41	DNFRX
DNIOX	0.2	0.86	0.82	0.65	0.84	0.32	0.52		0.88	0.46	DNIOX
DNINX	0.18	0.73	0.8	0.75	0.95	0.42	0.44	0.88		0.52	DNINX
DNHYX	0.37	0.44	0.53	0.61	0.52	0.47	0.41	0.46	0.52		DNHYX
	DNAVX	DNAIX	DNCGX	DNDGX	DNEMX	DNFGX	DNFRX	DNIOX	DNINX	DNHYX

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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

DNINX	+ 0.95	DNEMX
DNINX	+ 0.88	DNIOX
DNIOX	+ 0.86	DNAIX
DNCGX	+ 0.85	DNAIX
DNEMX	+ 0.84	DNDGX
DNIOX	+ 0.84	DNEMX

High negative correlations

DNFRX	- 0.13	DNAVX
DNFRX	- 0.06	DNFGX

Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Us 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 Dunham Us' 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
DNAVX	0.14	0.00	(0.23)	0.00	0.15	(0.17)	0.32	(0.24)	0.80
DNAIX	0.03	0.00	(0.35)	2.54	0.00	(0.14)	0.11	(0.11)	0.46
DNCGX	0.15	0.02	(0.09)	0.87	0.00	(0.20)	0.32	(0.24)	0.87
DNDGX	1.04	0.02	0.03	0.06	1.36	(1.02)	2.46	(1.89)	7.22
DNEMX	0.82	0.05	0.04	0.09	1.00	(0.93)	1.63	(1.39)	5.75
DNFGX	0.88	(0.13)	0.00	(0.06)	0.00	0.00	1.58	(2.45)	5.55
DNFRX	0.07	0.00	(0.24)	(0.09)	0.00	(0.15)	0.12	(0.12)	0.70
DNIOX	0.11	0.00	(0.19)	0.10	0.00	(0.17)	0.25	(0.25)	0.75
DNINX	0.63	0.03	0.03	0.08	0.76	(0.68)	1.13	(1.21)	4.03
DNHYX	0.12	0.00	(0.16)	0.05	0.08	(0.16)	0.23	(0.23)	0.81

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