Dunham Focused Correlations

DNFGX Fund

USD 40.47 0.50 1.25%

The current 90-days correlation between Dunham Focused Large and Delaware Limited Term Diversified is 0.11 (i.e., Average diversification). The correlation of Dunham Focused 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 Focused Correlation With Market

Weak diversification

The correlation between Dunham Focused Large 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 Focused Large 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 Focused Large. 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 price.

Moving together with Dunham Mutual Fund

0.94	DNAVX	Dunham Dynamic Macro	Pair Corr
0.81	DNINX	Dunham International	Pair Corr
0.81	DNLVX	Dunham Large Cap	Pair Corr
0.72	DNREX	Dunham Real Estate	Pair Corr
0.96	DNSVX	Dunham Small Cap	Pair Corr
0.98	DNSPX	Dunham Enhanced Market	Pair Corr
0.98	DAAVX	Dunham Dynamic Macro	Pair Corr
1.0	DAFGX	Dunham Focused Large	Pair Corr
0.82	DAINX	Dunham International	Pair Corr
0.81	DALVX	Dunham Large Cap	Pair Corr
0.72	DAREX	Dunham Real Estate	Pair Corr
0.98	DASPX	Dunham Enhanced Market	Pair Corr
0.96	DASVX	Dunham Small Cap	Pair Corr
0.95	DCAVX	Dunham Dynamic Macro	Pair Corr
1.0	DCFGX	Dunham Focused Large	Pair Corr
0.85	DCINX	Dunham International	Pair Corr

Moving against Dunham Mutual Fund

0.84	DNMDX	Dunham Monthly Distr	Pair Corr
0.84	DAMDX	Dunham Monthly Distr	Pair Corr
0.76	DNAIX	Dunham Appreciation	Pair Corr
0.7	DNFRX	Dunham Floating Rate	Pair Corr
0.7	DAFRX	Dunham Floating Rate	Pair Corr
0.63	DAAIX	Dunham Appreciation	Pair Corr
0.37	DAHYX	Dunham High Yield	Pair Corr
0.36	DNHYX	Dunham High Yield	Pair Corr
0.84	DCMDX	Dunham Monthly Distr	Pair Corr
0.7	DCFRX	Dunham Floating Rate	Pair Corr
0.63	DCAIX	Dunham Appreciation	Pair Corr
0.31	DCHYX	Dunham High Yield	Pair Corr

Related Correlations Analysis

	DLTZX	MDBSX	BICPX	PQCNX	SRDAX	PGBAX	MDBLX
DLTZX		0.5	0.59	0.4	0.65	0.78	0.54	DLTZX
MDBSX	0.5		0.86	0.89	-0.13	0.87	0.93	MDBSX
BICPX	0.59	0.86		0.89	-0.09	0.88	0.91	BICPX
PQCNX	0.4	0.89	0.89		-0.34	0.73	0.96	PQCNX
SRDAX	0.65	-0.13	-0.09	-0.34		0.21	-0.18	SRDAX
PGBAX	0.78	0.87	0.88	0.73	0.21		0.83	PGBAX
MDBLX	0.54	0.93	0.91	0.96	-0.18	0.83		MDBLX
	DLTZX	MDBSX	BICPX	PQCNX	SRDAX	PGBAX	MDBLX

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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

MDBLX	+ 0.96	PQCNX
MDBLX	+ 0.93	MDBSX
MDBLX	+ 0.91	BICPX
PQCNX	+ 0.89	MDBSX
PQCNX	+ 0.89	BICPX
PGBAX	+ 0.88	BICPX

High negative correlations

SRDAX	- 0.34	PQCNX
MDBLX	- 0.18	SRDAX
SRDAX	- 0.13	MDBSX
SRDAX	- 0.09	BICPX

Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Focused 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 Focused'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
DLTZX	0.08	0.01	0.04	1.13	0.00	(0.19)	0.26	(0.13)	0.64
MDBSX	0.22	0.02	0.05	(0.34)	0.14	(0.31)	0.75	(0.38)	1.38
BICPX	0.23	0.02	0.03	0.09	0.23	(0.30)	0.54	(0.45)	1.80
PQCNX	0.24	0.01	0.02	0.17	0.23	(0.33)	0.59	(0.47)	1.65
SRDAX	0.14	0.02	0.05	2.15	0.00	(0.19)	0.29	(0.37)	0.95
PGBAX	0.14	0.02	0.07	(0.60)	0.00	(0.19)	0.34	(0.25)	0.93
MDBLX	0.25	0.03	0.07	0.41	0.18	(0.31)	0.61	(0.38)	1.37

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