Dunham Dynamic Correlations

DNAVX Fund

USD 12.52 0.01 0.08%

The current 90-days correlation between Dunham Dynamic Macro and Gmo High Yield is -0.03 (i.e., Good diversification). The correlation of Dunham Dynamic 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 Dynamic Correlation With Market

Good diversification

The correlation between Dunham Dynamic Macro and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Dynamic Macro 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 Dynamic Macro. 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

0.67	DNREX	Dunham Real Estate	Pair Corr
0.78	DAAVX	Dunham Dynamic Macro	Pair Corr
0.97	DCAVX	Dunham Dynamic Macro	Pair Corr

Moving against Dunham Mutual Fund

0.49	DAMDX	Dunham Monthly Distr	Pair Corr
0.48	DNMDX	Dunham Monthly Distr	Pair Corr
0.44	DAINX	Dunham International	Pair Corr
0.39	DNFRX	Dunham Floating Rate	Pair Corr
0.39	DAFRX	Dunham Floating Rate	Pair Corr
0.39	DALVX	Dunham Large Cap	Pair Corr
0.36	DNINX	Dunham International	Pair Corr
0.47	DCMDX	Dunham Monthly Distr	Pair Corr
0.35	DASPX	Dunham Enhanced Market	Pair Corr
0.35	DCINX	Dunham International	Pair Corr
0.33	MGGYX	Mirova Global Green	Pair Corr

Related Correlations Analysis

	GHVIX	CAACX	TRRJX	TAHFX	NEAIX	FCQAX
GHVIX		0.82	0.86	0.82	0.58	0.54	GHVIX
CAACX	0.82		0.99	0.79	0.85	0.57	CAACX
TRRJX	0.86	0.99		0.82	0.82	0.58	TRRJX
TAHFX	0.82	0.79	0.82		0.51	0.56	TAHFX
NEAIX	0.58	0.85	0.82	0.51		0.42	NEAIX
FCQAX	0.54	0.57	0.58	0.56	0.42		FCQAX
	GHVIX	CAACX	TRRJX	TAHFX	NEAIX	FCQAX

Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Dynamic 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 Dynamic'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
GHVIX	0.12	0.00	(0.33)	0.05	0.05	(0.15)	0.28	(0.22)	0.78
CAACX	0.49	(0.02)	(0.05)	0.04	0.65	(0.49)	0.98	(0.99)	2.57
TRRJX	0.40	(0.01)	(0.06)	0.05	0.56	(0.39)	0.88	(0.87)	2.34
TAHFX	0.11	(0.01)	(0.31)	0.03	0.06	(0.18)	0.24	(0.24)	0.97
NEAIX	1.21	0.03	0.04	0.09	1.55	(1.18)	2.29	(3.01)	6.19
FCQAX	0.09	0.02	(0.33)	(7.37)	0.00	(0.18)	0.31	(0.21)	0.62

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