Dunham Emerging Correlations

DNEMX Fund

USD 13.82 0.14 1.00%

The current 90-days correlation between Dunham Emerging Markets and Smead Value Fund is 0.23 (i.e., Modest diversification). The correlation of Dunham Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Dunham Emerging Markets and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Emerging Markets 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 Emerging Markets. 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

0.72	DNINX	Dunham International	Pair Corr
1.0	DAEMX	Dunham Emerging Markets	Pair Corr
0.72	DAINX	Dunham International	Pair Corr
1.0	DCEMX	Dunham Emerging Markets	Pair Corr
0.71	DCINX	Dunham International	Pair Corr

Moving against Dunham Mutual Fund

0.59	DNAIX	Dunham Appreciation	Pair Corr
0.58	DAAIX	Dunham Appreciation	Pair Corr
0.58	DAFRX	Dunham Floating Rate	Pair Corr
0.56	DNFRX	Dunham Floating Rate	Pair Corr
0.52	DNMDX	Dunham Monthly Distr	Pair Corr
0.51	DAMDX	Dunham Monthly Distr	Pair Corr
0.34	DNHYX	Dunham High Yield	Pair Corr
0.58	DCFRX	Dunham Floating Rate	Pair Corr
0.57	DCAIX	Dunham Appreciation	Pair Corr
0.55	DCMDX	Dunham Monthly Distr	Pair Corr
0.4	CII	Blackrock Enhanced	Pair Corr

Related Correlations Analysis

	SMVLX	LMUSX	ILESX	ALCEX	GMLGX	MKFOX	DOXGX
SMVLX		0.61	0.65	0.67	0.48	-0.2	0.87	SMVLX
LMUSX	0.61		0.96	0.87	0.91	0.48	0.74	LMUSX
ILESX	0.65	0.96		0.83	0.93	0.41	0.75	ILESX
ALCEX	0.67	0.87	0.83		0.72	0.45	0.87	ALCEX
GMLGX	0.48	0.91	0.93	0.72		0.43	0.6	GMLGX
MKFOX	-0.2	0.48	0.41	0.45	0.43		0.13	MKFOX
DOXGX	0.87	0.74	0.75	0.87	0.6	0.13		DOXGX
	SMVLX	LMUSX	ILESX	ALCEX	GMLGX	MKFOX	DOXGX

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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

ILESX	+ 0.96	LMUSX
GMLGX	+ 0.93	ILESX
GMLGX	+ 0.91	LMUSX
DOXGX	+ 0.87	SMVLX
ALCEX	+ 0.87	LMUSX
DOXGX	+ 0.87	ALCEX

High negative correlations

MKFOX

- 0.2

SMVLX

Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham Emerging 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 Emerging'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
SMVLX	0.66	(0.06)	0.00	(0.06)	0.00	0.00	1.12	(1.30)	4.73
LMUSX	0.74	0.00	(0.03)	0.09	1.19	(0.70)	1.27	(1.59)	6.30
ILESX	0.70	(0.01)	(0.06)	0.06	1.00	(0.69)	1.24	(1.84)	6.28
ALCEX	0.57	0.05	(0.01)	0.21	0.58	(0.70)	1.29	(0.87)	7.05
GMLGX	0.71	(0.01)	(0.05)	0.06	1.27	(0.67)	1.22	(1.47)	7.56
MKFOX	0.97	0.09	0.00	(1.31)	1.42	(0.98)	1.83	(2.49)	6.74
DOXGX	0.56	0.02	(0.05)	0.15	0.66	(0.60)	1.27	(1.00)	5.95

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