Dunham Emerging Correlations

Mutual Funds . USA . 
Fund . Dunham Emerging Markets
DNEMX Fund  USD 16.19  0.26  1.63%   
The current 90-days correlation between Dunham Emerging Markets and Vanguard Emerging Markets is 0.94 (i.e., Almost no diversification). The correlation of Dunham Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Dunham Emerging Markets and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Emerging Markets 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 Emerging Markets. 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 bureau of economic analysis.

Moving together with Dunham Mutual Fund

  0.84DNAVX Dunham Dynamic MacroPairCorr
  0.91DNAIX Dunham AppreciationPairCorr
  0.88DNCGX Dunham PorategovernmentPairCorr
  0.82DNDGX Dunham Small CapPairCorr
  0.88DNFGX Dunham Focused LargePairCorr
  0.94DNFRX Dunham Floating RatePairCorr
  0.93DNIOX Dunham InternationalPairCorr
  0.96DNINX Dunham InternationalPairCorr
  0.95DNHYX Dunham High YieldPairCorr
  0.94DNLVX Dunham Large CapPairCorr
  0.92DNMDX Dunham Monthly DistrPairCorr
  0.92DNSVX Dunham Small CapPairCorr
  0.96DNSPX Dunham Enhanced MarketPairCorr
  0.9DAAIX Dunham AppreciationPairCorr
  0.83DAAVX Dunham Dynamic MacroPairCorr
  0.88DACGX Dunham PorategovernmentPairCorr
  0.82DADGX Dunham Small CapPairCorr
  1.0DAEMX Dunham Emerging MarketsPairCorr
  0.93DAFRX Dunham Floating RatePairCorr
  0.88DAFGX Dunham Focused LargePairCorr
  0.95DAHYX Dunham High YieldPairCorr
  0.96DAINX Dunham InternationalPairCorr
  0.94DALVX Dunham Large CapPairCorr
  0.92DAMDX Dunham Monthly DistrPairCorr
  0.96DASPX Dunham Enhanced MarketPairCorr
  0.92DASVX Dunham Small CapPairCorr
  0.79DCAVX Dunham Dynamic MacroPairCorr
  0.87DCCGX Dunham PorategovernmentPairCorr
  0.81DCDGX Dunham Small CapPairCorr
  1.0DCEMX Dunham Emerging MarketsPairCorr
  0.88DCFGX Dunham Focused LargePairCorr
  0.93DCFRX Dunham Floating RatePairCorr
  0.92DCIOX Dunham InternationalPairCorr
  0.96DCINX Dunham InternationalPairCorr
  0.95DCHYX Dunham High YieldPairCorr
  0.94DCLVX Dunham Large CapPairCorr
  0.91DCMDX Dunham Monthly DistrPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Emerging 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 Emerging'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VEMAX  0.50  0.08  0.05  0.28  0.40 
(0.55)
 1.11 
(0.90)
 3.38 
VEIEX  0.50  0.08  0.04  0.27  0.39 
(0.55)
 1.11 
(0.92)
 3.39 
VEMIX  0.49  0.08  0.05  0.28  0.38 
(0.55)
 1.11 
(0.89)
 3.40 
VEMRX  0.50  0.08  0.05  0.28  0.40 
(0.55)
 1.10 
(0.91)
 3.38 
FWWNX  0.47  0.05  0.03  0.18  0.33 
(0.53)
 1.31 
(0.86)
 3.21 
FNFWX  0.47  0.05  0.03  0.18  0.33 
(0.53)
 1.32 
(0.86)
 3.24 
NEWFX  0.47  0.06  0.03  0.20  0.33 
(0.54)
 1.32 
(0.86)
 3.30 
NWFFX  0.47  0.05  0.03  0.18  0.33 
(0.53)
 1.32 
(0.85)
 3.22 
NEWCX  0.47  0.05  0.02  0.17  0.34 
(0.53)
 1.32 
(0.87)
 3.22 
ODVYX  0.57  0.05  0.01  0.19  0.49 
(0.62)
 1.22 
(1.08)
 3.66 

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