Dunham Monthly Correlations

DCMDX Fund

USD 17.99 0.01 0.06%

The current 90-days correlation between Dunham Monthly Distr and Dunham Monthly Distribution is 0.97 (i.e., Almost no 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 0.37 (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

0.99	DNMDX	Dunham Monthly Distr	Pair Corr
0.65	DAAIX	Dunham Appreciation	Pair Corr
1.0	DAMDX	Dunham Monthly Distr	Pair Corr

Moving against Dunham Mutual Fund

0.71	DAFGX	Dunham Focused Large	Pair Corr
0.69	DNSVX	Dunham Small Cap	Pair Corr
0.61	DAAVX	Dunham Dynamic Macro	Pair Corr
0.31	DNDGX	Dunham Small Cap	Pair Corr
0.31	DADGX	Dunham Small Cap	Pair Corr
0.78	DCSVX	Dunham Small Cap	Pair Corr
0.7	DASVX	Dunham Small Cap	Pair Corr
0.66	DCAVX	Dunham Dynamic Macro	Pair Corr
0.59	SMPIX	Semiconductor Ultrasector	Pair Corr
0.35	DCREX	Dunham Real Estate	Pair Corr

Related Correlations Analysis

	DAMDX	DNMDX	DCINX	SSIZX	NFFCX
DAMDX		1.0	0.31	0.69	0.49	DAMDX
DNMDX	1.0		0.32	0.69	0.48	DNMDX
DCINX	0.31	0.32		0.35	-0.09	DCINX
SSIZX	0.69	0.69	0.35		0.72	SSIZX
NFFCX	0.49	0.48	-0.09	0.72		NFFCX
	DAMDX	DNMDX	DCINX	SSIZX	NFFCX

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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

DNMDX	+ 1.0	DAMDX
NFFCX	+ 0.72	SSIZX
SSIZX	+ 0.69	DAMDX
SSIZX	+ 0.69	DNMDX
NFFCX	+ 0.49	DAMDX
NFFCX	+ 0.48	DNMDX

High negative correlations

NFFCX

- 0.09

DCINX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DAMDX	0.08	0.02	0.24	0.43	0.00	(0.11)	0.22	(0.08)	0.67
DNMDX	0.08	0.02	0.28	0.46	0.00	(0.11)	0.24	(0.07)	0.63
DCINX	0.77	0.01	0.01	0.02	2.11	(0.67)	1.35	(1.28)	10.66
SSIZX	0.11	0.00	0.03	0.02	0.02	(0.14)	0.20	(0.20)	0.70
NFFCX	0.07	0.00	(0.03)	(0.13)	0.00	(0.19)	0.11	(0.11)	0.78

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