Dunham Focused Correlations

DNFGX Fund

USD 42.40 0.03 0.07%

The current 90-days correlation between Dunham Focused Large and Dunham Dynamic Macro is -0.22 (i.e., Very good 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

Poor diversification

The correlation between Dunham Focused Large and DJI is 0.66 (i.e., Poor 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

1.0	DAFGX	Dunham Focused Large	Pair Corr
1.0	DCFGX	Dunham Focused Large	Pair Corr

Moving against Dunham Mutual Fund

0.76	DNMDX	Dunham Monthly Distr	Pair Corr
0.49	DNLVX	Dunham Large Cap	Pair Corr
0.48	DALVX	Dunham Large Cap	Pair Corr
0.35	DNSVX	Dunham Small Cap	Pair Corr
0.34	DASVX	Dunham Small Cap	Pair Corr
0.32	DNINX	Dunham International	Pair Corr
0.31	DNFRX	Dunham Floating Rate	Pair Corr
0.31	DAHYX	Dunham High Yield	Pair Corr
0.31	DAINX	Dunham International	Pair Corr
0.76	DCMDX	Dunham Monthly Distr	Pair Corr
0.48	DCLVX	Dunham Large Cap	Pair Corr
0.44	TTEEX	T Rowe Price	Pair Corr
0.44	TREMX	T Rowe Price	Pair Corr
0.33	DCSVX	Dunham Small Cap	Pair Corr

Related Correlations Analysis

	DNAVX	DNAIX	DNCGX	DNDGX	DNEMX	DNFGX	DNFRX	DNIOX	DNINX	DNHYX
DNAVX		-0.02	0.24	-0.15	0.02	0.46	-0.48	-0.13	-0.34	-0.15	DNAVX
DNAIX	-0.02		0.63	0.5	0.56	-0.09	0.37	0.75	0.63	0.24	DNAIX
DNCGX	0.24	0.63		0.52	0.27	-0.19	0.06	0.59	0.44	0.39	DNCGX
DNDGX	-0.15	0.5	0.52		0.46	-0.17	0.17	0.27	0.77	0.76	DNDGX
DNEMX	0.02	0.56	0.27	0.46		0.49	0.36	0.57	0.6	0.25	DNEMX
DNFGX	0.46	-0.09	-0.19	-0.17	0.49		-0.31	-0.04	-0.32	-0.27	DNFGX
DNFRX	-0.48	0.37	0.06	0.17	0.36	-0.31		0.61	0.64	0.3	DNFRX
DNIOX	-0.13	0.75	0.59	0.27	0.57	-0.04	0.61		0.54	0.1	DNIOX
DNINX	-0.34	0.63	0.44	0.77	0.6	-0.32	0.64	0.54		0.65	DNINX
DNHYX	-0.15	0.24	0.39	0.76	0.25	-0.27	0.3	0.1	0.65		DNHYX
	DNAVX	DNAIX	DNCGX	DNDGX	DNEMX	DNFGX	DNFRX	DNIOX	DNINX	DNHYX

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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

DNINX	+ 0.77	DNDGX
DNHYX	+ 0.76	DNDGX
DNIOX	+ 0.75	DNAIX
DNHYX	+ 0.65	DNINX
DNINX	+ 0.64	DNFRX
DNCGX	+ 0.63	DNAIX

High negative correlations

DNFRX	- 0.48	DNAVX
DNINX	- 0.34	DNAVX
DNINX	- 0.32	DNFGX
DNFRX	- 0.31	DNFGX
DNHYX	- 0.27	DNFGX
DNFGX	- 0.19	DNCGX

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
DNAVX	0.13	(0.01)	0.00	3.16	0.00	0.00	0.24	(0.32)	0.88
DNAIX	0.04	(0.01)	(0.54)	(0.35)	0.00	(0.14)	0.11	(0.11)	0.57
DNCGX	0.13	0.00	(0.38)	0.22	0.06	(0.17)	0.24	(0.24)	0.63
DNDGX	1.00	0.01	0.02	0.08	1.39	(0.97)	2.02	(2.16)	6.56
DNEMX	0.84	0.00	0.00	0.08	1.05	(0.95)	1.53	(1.39)	5.42
DNFGX	0.89	(0.16)	0.00	(0.06)	0.00	0.00	1.70	(2.45)	5.55
DNFRX	0.06	(0.01)	(0.45)	(0.14)	0.06	(0.15)	0.12	(0.12)	0.71
DNIOX	0.10	(0.01)	(0.50)	(0.03)	0.05	(0.17)	0.25	(0.13)	0.75
DNINX	0.61	0.05	0.04	0.14	0.80	(0.62)	1.13	(1.21)	3.42
DNHYX	0.13	(0.01)	(0.34)	0.00	0.12	(0.16)	0.23	(0.23)	0.69

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