Dunham Large Correlations

DCLVX Fund

USD 20.78 0.12 0.58%

The current 90-days correlation between Dunham Large Cap and Gabelli Global Financial is 0.04 (i.e., Significant 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

Almost no diversification

The correlation between Dunham Large Cap and DJI is 0.94 (i.e., Almost no 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 population.

Moving together with Dunham Mutual Fund

0.86	DNAVX	Dunham Dynamic Macro	Pair Corr
0.85	DNAIX	Dunham Appreciation	Pair Corr
0.74	DNCGX	Dunham Porategovernment	Pair Corr
0.95	DNDGX	Dunham Small Cap	Pair Corr
0.85	DNEMX	Dunham Emerging Markets	Pair Corr
0.64	DNFGX	Dunham Focused Large	Pair Corr
0.71	DNFRX	Dunham Floating Rate	Pair Corr
0.61	DNIOX	Dunham International	Pair Corr
0.95	DNHYX	Dunham High Yield	Pair Corr
0.97	DNLVX	Dunham Large Cap	Pair Corr
0.87	DNMDX	Dunham Monthly Distr	Pair Corr
0.97	DNSVX	Dunham Small Cap	Pair Corr
0.87	DNSPX	Dunham Enhanced Market	Pair Corr
0.79	DAAIX	Dunham Appreciation	Pair Corr
0.85	DAAVX	Dunham Dynamic Macro	Pair Corr
0.71	DACGX	Dunham Porategovernment	Pair Corr
0.94	DADGX	Dunham Small Cap	Pair Corr
0.81	DAEMX	Dunham Emerging Markets	Pair Corr
0.66	DAFRX	Dunham Floating Rate	Pair Corr
0.63	DAFGX	Dunham Focused Large	Pair Corr
0.94	DAHYX	Dunham High Yield	Pair Corr
0.64	DAIOX	Dunham International	Pair Corr
0.95	DALVX	Dunham Large Cap	Pair Corr
0.88	DAMDX	Dunham Monthly Distr	Pair Corr
0.96	DASVX	Dunham Small Cap	Pair Corr
0.85	DCAVX	Dunham Dynamic Macro	Pair Corr
0.77	DCAIX	Dunham Appreciation	Pair Corr
0.63	DCCGX	Dunham Porategovernment	Pair Corr
0.95	DCDGX	Dunham Small Cap	Pair Corr
0.84	DCEMX	Dunham Emerging Markets	Pair Corr
0.71	DCFGX	Dunham Focused Large	Pair Corr
0.95	DCHYX	Dunham High Yield	Pair Corr

Moving against Dunham Mutual Fund

0.8	DASPX	Dunham Enhanced Market	Pair Corr
0.51	AMRMX	American Mutual	Pair Corr

Related Correlations Analysis

	IAAEX	FIKBX	PFSQX	PRISX	MCBXX	HILFX	FTIXX	GCFSX
IAAEX		0.93	0.94	0.87	0.0	0.71	0.0	0.89	IAAEX
FIKBX	0.93		1.0	0.97	0.0	0.87	0.0	0.94	FIKBX
PFSQX	0.94	1.0		0.96	0.0	0.85	0.0	0.92	PFSQX
PRISX	0.87	0.97	0.96		0.0	0.91	0.0	0.94	PRISX
MCBXX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MCBXX
HILFX	0.71	0.87	0.85	0.91	0.0		0.0	0.85	HILFX
FTIXX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FTIXX
GCFSX	0.89	0.94	0.92	0.94	0.0	0.85	0.0		GCFSX
	IAAEX	FIKBX	PFSQX	PRISX	MCBXX	HILFX	FTIXX	GCFSX

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

PFSQX	+ 1.0	FIKBX
PRISX	+ 0.97	FIKBX
PRISX	+ 0.96	PFSQX
PFSQX	+ 0.94	IAAEX
GCFSX	+ 0.94	FIKBX
GCFSX	+ 0.94	PRISX

High negative correlations

GCFSX	- 0.0	FTIXX
FTIXX	- 0.0	HILFX
GCFSX	- 0.0	MCBXX
FTIXX	- 0.0	MCBXX
HILFX	- 0.0	MCBXX
FTIXX	- 0.0	PRISX

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
IAAEX	0.95	0.32	0.39	0.70	0.29	(1.25)	1.85	(1.17)	19.44
FIKBX	0.76	0.14	0.15	0.19	0.69	(0.86)	1.70	(1.63)	8.31
PFSQX	0.88	0.17	0.17	0.19	0.72	(1.01)	1.93	(1.75)	12.00
PRISX	0.81	0.14	0.14	0.19	0.77	(0.90)	1.66	(1.67)	8.41
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HILFX	1.05	0.05	0.05	0.09	1.09	(1.27)	1.71	(2.06)	12.15
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GCFSX	0.51	0.14	0.13	1.21	0.52	(0.58)	1.15	(1.04)	3.77

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