Dunham Monthly Correlations

DNMDX Fund

USD 28.93 0.01 0.03%

The current 90-days correlation between Dunham Monthly Distr and Dunham International Stock is 0.12 (i.e., Average 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

Good diversification

The correlation between Dunham Monthly Distribution and DJI is -0.06 (i.e., Good 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

0.88	DNAIX	Dunham Appreciation	Pair Corr
0.9	DNFRX	Dunham Floating Rate	Pair Corr
0.79	DAAIX	Dunham Appreciation	Pair Corr
0.9	DAFRX	Dunham Floating Rate	Pair Corr
0.68	DAHYX	Dunham High Yield	Pair Corr
1.0	DAMDX	Dunham Monthly Distr	Pair Corr
0.77	DCAIX	Dunham Appreciation	Pair Corr
0.9	DCFRX	Dunham Floating Rate	Pair Corr
0.63	DCHYX	Dunham High Yield	Pair Corr
1.0	DCMDX	Dunham Monthly Distr	Pair Corr

Moving against Dunham Mutual Fund

0.88	DNSPX	Dunham Enhanced Market	Pair Corr
0.88	DASPX	Dunham Enhanced Market	Pair Corr
0.85	DNSVX	Dunham Small Cap	Pair Corr
0.84	DNFGX	Dunham Focused Large	Pair Corr
0.84	DAFGX	Dunham Focused Large	Pair Corr
0.83	DNAVX	Dunham Dynamic Macro	Pair Corr
0.81	DAAVX	Dunham Dynamic Macro	Pair Corr
0.61	DAREX	Dunham Real Estate	Pair Corr
0.6	DALVX	Dunham Large Cap	Pair Corr
0.56	DAINX	Dunham International	Pair Corr
0.55	DNINX	Dunham International	Pair Corr
0.41	DNREX	Dunham Real Estate	Pair Corr
0.37	DNCGX	Dunham Porategovernment	Pair Corr
0.34	DNLVX	Dunham Large Cap	Pair Corr
0.88	DCSPX	Dunham Enhanced Market	Pair Corr
0.87	DCSVX	Dunham Small Cap	Pair Corr
0.85	DASVX	Dunham Small Cap	Pair Corr
0.85	DCAVX	Dunham Dynamic Macro	Pair Corr
0.85	DCFGX	Dunham Focused Large	Pair Corr
0.63	DCLVX	Dunham Large Cap	Pair Corr
0.62	DCREX	Dunham Real Estate	Pair Corr
0.6	DCINX	Dunham International	Pair Corr
0.45	SMPSX	Semiconductor Ultrasector	Pair Corr
0.4	VARCX	First Trust Merger	Pair Corr
0.34	VARBX	Vivaldi Merger Arbitrage	Pair Corr

Related Correlations Analysis

	DNINX	DNCGX	DNHYX	DNAIX	DNREX
DNINX		0.76	0.32	-0.45	0.59	DNINX
DNCGX	0.76		0.6	-0.4	0.68	DNCGX
DNHYX	0.32	0.6		0.1	0.08	DNHYX
DNAIX	-0.45	-0.4	0.1		-0.37	DNAIX
DNREX	0.59	0.68	0.08	-0.37		DNREX
	DNINX	DNCGX	DNHYX	DNAIX	DNREX

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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

DNCGX	+ 0.76	DNINX
DNREX	+ 0.68	DNCGX
DNHYX	+ 0.6	DNCGX
DNREX	+ 0.59	DNINX
DNHYX	+ 0.32	DNINX
DNAIX	+ 0.1	DNHYX

High negative correlations

DNAIX	- 0.45	DNINX
DNAIX	- 0.4	DNCGX
DNREX	- 0.37	DNAIX

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
DNINX	0.68	(0.03)	0.00	(0.16)	0.00	0.00	1.17	(0.91)	10.08
DNCGX	0.21	0.00	0.02	0.00	0.21	(0.24)	0.48	(0.48)	1.21
DNHYX	0.13	0.01	0.08	1.00	0.06	(0.18)	0.23	(0.23)	0.93
DNAIX	0.03	0.01	0.00	(1.34)	0.00	0.00	0.11	0.00	0.23
DNREX	0.77	(0.14)	0.00	1.09	0.00	0.00	1.43	(2.01)	4.71

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