Dunham Monthly Correlations

Mutual Funds . USA . 
Fund . Dunham Monthly Distribution
DAMDX Fund  USD 27.06  0.01  0.04%   
The current 90-days correlation between Dunham Monthly Distr and Invesco Gold Special is -0.12 (i.e., Good diversification). The correlation of Dunham Monthly 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 Monthly Correlation With Market

Weak diversification

The correlation between Dunham Monthly Distribution and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Monthly Distribution 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 Monthly Distribution. 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 unemployment.

Moving together with Dunham Mutual Fund

  0.78DNAIX Dunham AppreciationPairCorr
  0.61DNCGX Dunham PorategovernmentPairCorr
  0.61DNFRX Dunham Floating RatePairCorr
  1.0DNMDX Dunham Monthly DistrPairCorr
  0.7DAAIX Dunham AppreciationPairCorr
  0.69DCAIX Dunham AppreciationPairCorr

Moving against Dunham Mutual Fund

  0.76DNSPX Dunham Enhanced MarketPairCorr
  0.74DAFGX Dunham Focused LargePairCorr
  0.73DNFGX Dunham Focused LargePairCorr
  0.72DNSVX Dunham Small CapPairCorr
  0.6DAAVX Dunham Dynamic MacroPairCorr
  0.58DNAVX Dunham Dynamic MacroPairCorr
  0.36DNDGX Dunham Small CapPairCorr
  0.36DADGX Dunham Small CapPairCorr
  0.8DCSVX Dunham Small CapPairCorr
  0.76DASPX Dunham Enhanced MarketPairCorr
  0.76DCFGX Dunham Focused LargePairCorr
  0.76DCSPX Dunham Enhanced MarketPairCorr
  0.72DASVX Dunham Small CapPairCorr
  0.65DCAVX Dunham Dynamic MacroPairCorr
  0.64SMPIX Semiconductor UltrasectorPairCorr
  0.38DCREX Dunham Real EstatePairCorr
  0.37DCDGX Dunham Small CapPairCorr

Related Correlations Analysis

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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   
USERX
+ 1.0
IOGYX
FGDIX
+ 1.0
IIGCX
USERX
+ 0.99
FEGOX
FEGOX
+ 0.98
IOGYX
XGGNX
+ 0.98
IOGYX
IIGCX
+ 0.98
FEGOX
  
High negative correlations   
FEGOX
- 0.08
TAGGX
FGDIX
- 0.07
TAGGX
IIGCX
- 0.05
TAGGX
USERX
- 0.03
TAGGX
TAGGX
- 0.0
IOGYX

Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Monthly 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 Monthly'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.

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