Dunham Dynamic Correlations

DNAVX Fund

USD 12.48 0.02 0.16%

The current 90-days correlation between Dunham Dynamic Macro and Hartford Healthcare Hls is 0.42 (i.e., Very weak 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

Poor diversification

The correlation between Dunham Dynamic Macro and DJI is 0.64 (i.e., Poor 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 real.

Moving together with Dunham Mutual Fund

0.69	DNDGX	Dunham Small Cap	Pair Corr
0.62	DNFGX	Dunham Focused Large	Pair Corr
0.73	DNIOX	Dunham International	Pair Corr
0.67	DNHYX	Dunham High Yield	Pair Corr
0.73	DNLVX	Dunham Large Cap	Pair Corr
0.74	DNMDX	Dunham Monthly Distr	Pair Corr
0.63	DNSVX	Dunham Small Cap	Pair Corr
0.78	DNSPX	Dunham Enhanced Market	Pair Corr
1.0	DAAVX	Dunham Dynamic Macro	Pair Corr
0.69	DADGX	Dunham Small Cap	Pair Corr
0.62	DAFGX	Dunham Focused Large	Pair Corr
0.67	DAHYX	Dunham High Yield	Pair Corr
0.74	DAIOX	Dunham International	Pair Corr
0.74	DALVX	Dunham Large Cap	Pair Corr
0.74	DAMDX	Dunham Monthly Distr	Pair Corr
0.78	DASPX	Dunham Enhanced Market	Pair Corr
0.63	DASVX	Dunham Small Cap	Pair Corr
1.0	DCAVX	Dunham Dynamic Macro	Pair Corr
0.69	DCDGX	Dunham Small Cap	Pair Corr
0.62	DCFGX	Dunham Focused Large	Pair Corr
0.71	DCIOX	Dunham International	Pair Corr
0.69	DCHYX	Dunham High Yield	Pair Corr

Moving against Dunham Mutual Fund

0.36	DNCGX	Dunham Porategovernment	Pair Corr
0.36	DACGX	Dunham Porategovernment	Pair Corr
0.38	DCCGX	Dunham Porategovernment	Pair Corr

Related Correlations Analysis

	HIAHX	BHSRX	LHCCX	RAGHX	FHCCX	XXGRX	BHCHX	THQ
HIAHX		0.98	0.52	0.98	0.82	0.98	0.91	0.8	HIAHX
BHSRX	0.98		0.62	0.98	0.89	0.97	0.95	0.79	BHSRX
LHCCX	0.52	0.62		0.56	0.75	0.52	0.69	0.33	LHCCX
RAGHX	0.98	0.98	0.56		0.88	0.97	0.93	0.77	RAGHX
FHCCX	0.82	0.89	0.75	0.88		0.8	0.95	0.76	FHCCX
XXGRX	0.98	0.97	0.52	0.97	0.8		0.87	0.72	XXGRX
BHCHX	0.91	0.95	0.69	0.93	0.95	0.87		0.82	BHCHX
THQ	0.8	0.79	0.33	0.77	0.76	0.72	0.82		THQ
	HIAHX	BHSRX	LHCCX	RAGHX	FHCCX	XXGRX	BHCHX	THQ

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HIAHX	0.64	(0.19)	(0.20)	0.91	(1.34)	3.83
BHSRX	0.58	(0.14)	(0.12)	0.91	(1.31)	3.39
LHCCX	0.77	(0.10)	(0.01)	1.50	(1.57)	5.15
RAGHX	0.63	(0.16)	(0.11)	0.96	(1.37)	3.33
FHCCX	0.70	(0.10)	(0.02)	1.05	(1.31)	4.04
XXGRX	0.62	(0.18)	(0.17)	1.01	(1.19)	2.74
BHCHX	0.66	(0.13)	(0.08)	1.27	(1.32)	4.20
THQ	0.80	(0.12)	(0.06)	1.38	(1.67)	5.19

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