Dunham Dynamic Correlations

DAAVX Fund

USD 11.81 0.01 0.08%

The current 90-days correlation between Dunham Dynamic Macro and Morningstar Global Income is 0.37 (i.e., Weak diversification). The correlation of Dunham Dynamic 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 Dynamic Correlation With Market

Weak diversification

The correlation between Dunham Dynamic Macro and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Dynamic Macro 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 Dynamic Macro. 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 real.

Moving together with Dunham Mutual Fund

1.0	DNAVX	Dunham Dynamic Macro	Pair Corr
0.88	DNFGX	Dunham Focused Large	Pair Corr
0.74	DNLVX	Dunham Large Cap	Pair Corr
0.89	DNSVX	Dunham Small Cap	Pair Corr
0.97	DNSPX	Dunham Enhanced Market	Pair Corr
0.88	DAFGX	Dunham Focused Large	Pair Corr
0.75	DALVX	Dunham Large Cap	Pair Corr
0.97	DASPX	Dunham Enhanced Market	Pair Corr
0.9	DASVX	Dunham Small Cap	Pair Corr
1.0	DCAVX	Dunham Dynamic Macro	Pair Corr
0.9	DCFGX	Dunham Focused Large	Pair Corr

Moving against Dunham Mutual Fund

0.7	DNMDX	Dunham Monthly Distr	Pair Corr
0.7	DAMDX	Dunham Monthly Distr	Pair Corr
0.55	DNAIX	Dunham Appreciation	Pair Corr
0.45	DAAIX	Dunham Appreciation	Pair Corr
0.39	DNFRX	Dunham Floating Rate	Pair Corr
0.36	DAFRX	Dunham Floating Rate	Pair Corr
0.71	DCMDX	Dunham Monthly Distr	Pair Corr
0.52	USPSX	Profunds Ultrashort	Pair Corr
0.4	DCAIX	Dunham Appreciation	Pair Corr
0.36	DCFRX	Dunham Floating Rate	Pair Corr

Related Correlations Analysis

	MSTGX	DHGCX	HRLAX	LFLCX	TEDIX	DBLGX	GWOAX
MSTGX		0.81	0.91	0.98	0.81	0.88	0.89	MSTGX
DHGCX	0.81		0.58	0.87	0.73	0.83	0.68	DHGCX
HRLAX	0.91	0.58		0.86	0.71	0.8	0.78	HRLAX
LFLCX	0.98	0.87	0.86		0.83	0.92	0.86	LFLCX
TEDIX	0.81	0.73	0.71	0.83		0.83	0.72	TEDIX
DBLGX	0.88	0.83	0.8	0.92	0.83		0.66	DBLGX
GWOAX	0.89	0.68	0.78	0.86	0.72	0.66		GWOAX
	MSTGX	DHGCX	HRLAX	LFLCX	TEDIX	DBLGX	GWOAX

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Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Dynamic 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 Dynamic'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
MSTGX	0.31	0.07	0.23	0.14	0.34	(0.34)	0.74	(0.62)	1.58
DHGCX	0.17	0.00	0.24	(0.17)	0.21	(0.22)	0.36	(0.36)	1.46
HRLAX	0.36	0.08	0.22	0.27	0.42	(0.42)	0.83	(0.71)	2.05
LFLCX	0.18	0.01	0.31	0.08	0.15	(0.21)	0.43	(0.33)	0.98
TEDIX	0.66	0.01	0.00	(0.06)	0.00	0.00	1.01	(1.47)	7.35
DBLGX	0.22	0.01	0.26	0.19	0.19	(0.30)	0.48	(0.36)	1.21
GWOAX	0.61	0.07	0.11	0.04	0.80	(0.61)	1.29	(1.14)	3.92

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