Dunham Large Correlations

DNLVX Fund

USD 22.41 0.03 0.13%

The current 90-days correlation between Dunham Large Cap and Siit Emerging Markets is 0.24 (i.e., Modest diversification). The correlation of Dunham Large 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 Large Correlation With Market

Very poor diversification

The correlation between Dunham Large Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Large Cap 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 Large Cap. 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

0.66	DNCGX	Dunham Porategovernment	Pair Corr
0.66	DNDGX	Dunham Small Cap	Pair Corr
0.65	DNIOX	Dunham International	Pair Corr
0.88	DNINX	Dunham International	Pair Corr
0.8	DNMDX	Dunham Monthly Distr	Pair Corr
0.62	DNSVX	Dunham Small Cap	Pair Corr
0.82	DNSPX	Dunham Enhanced Market	Pair Corr
0.65	DACGX	Dunham Porategovernment	Pair Corr
0.65	DADGX	Dunham Small Cap	Pair Corr
0.63	DAIOX	Dunham International	Pair Corr
0.75	DAINX	Dunham International	Pair Corr
0.75	DALVX	Dunham Large Cap	Pair Corr
0.78	DAMDX	Dunham Monthly Distr	Pair Corr
0.7	DASPX	Dunham Enhanced Market	Pair Corr
0.61	DASVX	Dunham Small Cap	Pair Corr
0.64	DCDGX	Dunham Small Cap	Pair Corr
0.64	DCIOX	Dunham International	Pair Corr
0.87	DCINX	Dunham International	Pair Corr

Moving against Dunham Mutual Fund

0.32

DCAVX

Dunham Dynamic Macro

Pair Corr

Related Correlations Analysis

	SEDAX	PIEFX	QNZIX	AUERX	LMUSX	TBLDX
SEDAX		0.25	0.86	0.7	0.78	0.77	SEDAX
PIEFX	0.25		0.51	0.19	0.62	0.68	PIEFX
QNZIX	0.86	0.51		0.59	0.78	0.85	QNZIX
AUERX	0.7	0.19	0.59		0.7	0.6	AUERX
LMUSX	0.78	0.62	0.78	0.7		0.87	LMUSX
TBLDX	0.77	0.68	0.85	0.6	0.87		TBLDX
	SEDAX	PIEFX	QNZIX	AUERX	LMUSX	TBLDX

Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Large 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 Large'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
SEDAX	0.18	0.06	0.01	0.84	0.00	(0.25)	0.44	(0.33)	1.09
PIEFX	0.80	0.08	0.05	0.17	0.99	(0.87)	1.60	(1.61)	5.78
QNZIX	0.60	0.14	0.07	8.44	0.73	(0.64)	1.23	(1.11)	4.01
AUERX	0.86	0.06	0.06	0.13	0.94	(1.00)	1.96	(1.72)	4.33
LMUSX	0.54	0.03	0.02	0.10	0.76	(0.50)	1.25	(1.38)	3.58
TBLDX	0.27	0.04	(0.04)	0.73	0.30	(0.30)	0.64	(0.54)	1.73

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