Dunham International Correlations

DNIOX Fund

USD 7.74 0.03 0.39%

The correlation of Dunham International 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dunham International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dunham International Opportunity moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Average diversification

The correlation between Dunham International Opportuni and NYA is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham International Opportuni and NYA 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 International Opportunity. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in persons.

The ability to find closely correlated positions to Dunham International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dunham International when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Dunham International - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Dunham International Opportunity to buy it.

Moving together with Dunham Mutual Fund

0.78	DNAVX	Dunham Dynamic Macro	Pair Corr
0.64	DNCGX	Dunham Porategovernment	Pair Corr
0.63	DNDGX	Dunham Small Cap	Pair Corr
0.65	DNEMX	Dunham Emerging Markets	Pair Corr
0.62	DNINX	Dunham International	Pair Corr
0.69	DNHYX	Dunham High Yield	Pair Corr
0.8	DNLVX	Dunham Large Cap	Pair Corr
0.69	DNREX	Dunham Real Estate	Pair Corr
0.7	DNSVX	Dunham Small Cap	Pair Corr
0.79	DAAVX	Dunham Dynamic Macro	Pair Corr
0.7	DADGX	Dunham Small Cap	Pair Corr
0.7	DAEMX	Dunham Emerging Markets	Pair Corr

Related Correlations Analysis

	APDPX	AQGRX	DHGCX	SMYIX	KGLCX	AGAZX	SGMAX	DSDYX
APDPX		0.63	-0.52	0.3	0.44	0.43	0.33	-0.43	APDPX
AQGRX	0.63		0.25	0.91	0.61	0.85	0.88	0.35	AQGRX
DHGCX	-0.52	0.25		0.53	0.15	0.4	0.54	0.99	DHGCX
SMYIX	0.3	0.91	0.53		0.6	0.83	0.89	0.61	SMYIX
KGLCX	0.44	0.61	0.15	0.6		0.69	0.58	0.18	KGLCX
AGAZX	0.43	0.85	0.4	0.83	0.69		0.88	0.47	AGAZX
SGMAX	0.33	0.88	0.54	0.89	0.58	0.88		0.63	SGMAX
DSDYX	-0.43	0.35	0.99	0.61	0.18	0.47	0.63		DSDYX
	APDPX	AQGRX	DHGCX	SMYIX	KGLCX	AGAZX	SGMAX	DSDYX

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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

DSDYX	+ 0.99	DHGCX
SMYIX	+ 0.91	AQGRX
SGMAX	+ 0.89	SMYIX
SGMAX	+ 0.88	AQGRX
SGMAX	+ 0.88	AGAZX
AGAZX	+ 0.85	AQGRX

High negative correlations

DHGCX	- 0.52	APDPX
DSDYX	- 0.43	APDPX

Risk-Adjusted Indicators

There is a big difference between Dunham Mutual Fund performing well and Dunham International 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 International'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
APDPX	0.13	0.03	0.11	(0.56)	0.00	(0.19)	0.30	(0.29)	1.07
AQGRX	0.56	0.08	0.12	0.10	0.50	(0.68)	1.04	(1.03)	2.83
DHGCX	0.23	0.00	(0.03)	(0.01)	0.27	(0.24)	0.42	(0.42)	1.21
SMYIX	0.59	0.05	0.07	0.06	0.55	(0.74)	1.18	(0.99)	3.14
KGLCX	1.33	0.14	0.08	0.98	1.55	(1.48)	2.45	(2.27)	8.92
AGAZX	0.34	0.04	0.08	0.11	0.31	(0.39)	0.73	(0.73)	1.87
SGMAX	0.32	0.04	0.06	0.07	0.33	(0.38)	0.62	(0.78)	1.68
DSDYX	0.23	0.00	(0.02)	0.02	0.24	(0.25)	0.40	(0.40)	1.25

Other Information on Investing in Dunham Mutual Fund

Dunham International financial ratios help investors to determine whether Dunham Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Dunham with respect to the benefits of owning Dunham International security.

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