Dunham Small Correlations

DNDGX Fund

USD 22.90 0.26 1.15%

The current 90-days correlation between Dunham Small Cap and Dunham Dynamic Macro is -0.05 (i.e., Good diversification). The correlation of Dunham Small 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 Small Correlation With Market

Poor diversification

The correlation between Dunham Small Cap and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Small 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 Small 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 census.

Moving together with Dunham Mutual Fund

0.63	DNCGX	Dunham Porategovernment	Pair Corr
0.65	DNEMX	Dunham Emerging Markets	Pair Corr
0.68	DNINX	Dunham International	Pair Corr
0.62	DNHYX	Dunham High Yield	Pair Corr
0.75	DNLVX	Dunham Large Cap	Pair Corr
0.74	DNSVX	Dunham Small Cap	Pair Corr
0.82	DNSPX	Dunham Enhanced Market	Pair Corr
0.63	DACGX	Dunham Porategovernment	Pair Corr
1.0	DADGX	Dunham Small Cap	Pair Corr
0.65	DAEMX	Dunham Emerging Markets	Pair Corr
0.68	DAINX	Dunham International	Pair Corr
0.75	DALVX	Dunham Large Cap	Pair Corr
0.83	DASPX	Dunham Enhanced Market	Pair Corr
0.73	DASVX	Dunham Small Cap	Pair Corr
0.64	DCCGX	Dunham Porategovernment	Pair Corr
1.0	DCDGX	Dunham Small Cap	Pair Corr
0.65	DCEMX	Dunham Emerging Markets	Pair Corr
0.68	DCINX	Dunham International	Pair Corr
0.75	DCLVX	Dunham Large Cap	Pair Corr

Related Correlations Analysis

	DNAVX	DNAIX	DNCGX	DNDGX	DNEMX	DNFGX	DNFRX	DNIOX	DNINX	DNHYX
DNAVX		-0.1	0.21	0.07	-0.19	0.21	-0.36	-0.22	-0.24	0.07	DNAVX
DNAIX	-0.1		0.59	0.43	0.66	0.14	0.24	0.85	0.64	0.01	DNAIX
DNCGX	0.21	0.59		0.63	0.54	-0.05	-0.11	0.7	0.6	0.27	DNCGX
DNDGX	0.07	0.43	0.63		0.65	0.31	-0.08	0.49	0.68	0.62	DNDGX
DNEMX	-0.19	0.66	0.54	0.65		0.46	0.05	0.72	0.83	0.2	DNEMX
DNFGX	0.21	0.14	-0.05	0.31	0.46		-0.25	0.01	0.06	0.05	DNFGX
DNFRX	-0.36	0.24	-0.11	-0.08	0.05	-0.25		0.42	0.39	0.18	DNFRX
DNIOX	-0.22	0.85	0.7	0.49	0.72	0.01	0.42		0.8	0.11	DNIOX
DNINX	-0.24	0.64	0.6	0.68	0.83	0.06	0.39	0.8		0.37	DNINX
DNHYX	0.07	0.01	0.27	0.62	0.2	0.05	0.18	0.11	0.37		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

DNIOX	+ 0.85	DNAIX
DNINX	+ 0.83	DNEMX
DNINX	+ 0.8	DNIOX
DNIOX	+ 0.72	DNEMX
DNIOX	+ 0.7	DNCGX
DNINX	+ 0.68	DNDGX

High negative correlations

DNFRX	- 0.36	DNAVX
DNFRX	- 0.25	DNFGX
DNINX	- 0.24	DNAVX
DNIOX	- 0.22	DNAVX
DNEMX	- 0.19	DNAVX
DNFRX	- 0.11	DNCGX

Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Small 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 Small'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)	(0.38)	0.32	0.15	(0.15)	0.24	(0.24)	0.80
DNAIX	0.03	0.00	0.00	(0.24)	0.00	0.00	0.11	(0.11)	0.57
DNCGX	0.15	0.01	(0.30)	0.69	0.02	(0.18)	0.32	(0.24)	0.88
DNDGX	1.02	0.03	0.04	0.09	1.36	(1.00)	2.16	(1.89)	6.63
DNEMX	0.83	0.07	0.05	0.15	1.00	(0.91)	1.53	(1.39)	5.45
DNFGX	0.86	(0.10)	0.00	(0.02)	0.00	0.00	1.58	(2.45)	5.55
DNFRX	0.06	(0.01)	(0.43)	(0.21)	0.07	(0.15)	0.12	(0.12)	0.71
DNIOX	0.10	0.00	(0.40)	0.09	0.00	(0.16)	0.25	(0.13)	0.75
DNINX	0.61	0.06	0.06	0.15	0.75	(0.65)	1.07	(1.21)	3.58
DNHYX	0.12	0.00	(0.28)	0.04	0.07	(0.16)	0.23	(0.23)	0.69

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