Dunham High Correlations

DNHYX Fund

USD 8.64 0.01 0.12%

The current 90-days correlation between Dunham High Yield and Jhancock Diversified Macro is 0.17 (i.e., Average diversification). The correlation of Dunham High 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 High Correlation With Market

Very weak diversification

The correlation between Dunham High Yield and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham High Yield 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 High Yield. 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 manufacturing.

Moving together with Dunham Mutual Fund

0.68	DNCGX	Dunham Porategovernment	Pair Corr
0.94	DNFRX	Dunham Floating Rate	Pair Corr
0.82	DNIOX	Dunham International	Pair Corr
0.61	DNMDX	Dunham Monthly Distr	Pair Corr
0.67	DACGX	Dunham Porategovernment	Pair Corr
0.94	DAFRX	Dunham Floating Rate	Pair Corr
0.99	DAHYX	Dunham High Yield	Pair Corr
0.82	DAIOX	Dunham International	Pair Corr
0.62	DAMDX	Dunham Monthly Distr	Pair Corr
0.68	DCCGX	Dunham Porategovernment	Pair Corr
0.92	DCFRX	Dunham Floating Rate	Pair Corr
0.79	DCIOX	Dunham International	Pair Corr
0.99	DCHYX	Dunham High Yield	Pair Corr

Moving against Dunham Mutual Fund

0.41	DASPX	Dunham Enhanced Market	Pair Corr
0.4	DNSPX	Dunham Enhanced Market	Pair Corr
0.36	DNSVX	Dunham Small Cap	Pair Corr
0.32	DAFGX	Dunham Focused Large	Pair Corr
0.31	DNFGX	Dunham Focused Large	Pair Corr
0.41	DCSPX	Dunham Enhanced Market	Pair Corr
0.39	DCSVX	Dunham Small Cap	Pair Corr
0.36	DASVX	Dunham Small Cap	Pair Corr
0.34	DCFGX	Dunham Focused Large	Pair Corr

Related Correlations Analysis

	JDJRX	LIGFX	MBLAX	BDVFX	WDIAX	QDARX	CDBCX
JDJRX		0.76	0.65	0.16	0.81	0.31	0.2	JDJRX
LIGFX	0.76		0.91	0.48	0.94	0.42	0.49	LIGFX
MBLAX	0.65	0.91		0.58	0.9	0.51	0.6	MBLAX
BDVFX	0.16	0.48	0.58		0.31	0.76	0.95	BDVFX
WDIAX	0.81	0.94	0.9	0.31		0.33	0.33	WDIAX
QDARX	0.31	0.42	0.51	0.76	0.33		0.85	QDARX
CDBCX	0.2	0.49	0.6	0.95	0.33	0.85		CDBCX
	JDJRX	LIGFX	MBLAX	BDVFX	WDIAX	QDARX	CDBCX

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Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham High 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 High'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
JDJRX	0.33	0.00	0.14	(0.02)	0.39	(0.41)	0.66	(0.75)	2.62
LIGFX	0.32	0.01	0.00	(0.03)	0.00	0.00	0.55	(0.67)	1.75
MBLAX	0.27	0.00	0.00	(0.05)	0.00	0.00	0.62	(0.54)	1.51
BDVFX	0.26	(0.01)	0.00	(0.15)	0.00	0.00	0.54	(0.54)	1.41
WDIAX	0.65	0.02	0.00	(0.04)	0.00	0.00	1.23	(1.48)	3.27
QDARX	0.08	0.04	0.89	1.36	0.00	(0.13)	0.25	(0.08)	0.49
CDBCX	0.23	0.01	0.24	0.27	0.22	(0.30)	0.56	(0.44)	1.34

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