Dunham Emerging Correlations

DCEMX Fund

USD 12.94 0.09 0.70%

The current 90-days correlation between Dunham Emerging Markets and New World Fund is 0.87 (i.e., Very poor 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

Very weak diversification

The correlation between Dunham Emerging Markets and NYA is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Emerging Markets 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 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

0.83	DNAVX	Dunham Dynamic Macro	Pair Corr
0.66	DNAIX	Dunham Appreciation	Pair Corr
0.71	DNCGX	Dunham Porategovernment	Pair Corr
0.67	DNDGX	Dunham Small Cap	Pair Corr
1.0	DNEMX	Dunham Emerging Markets	Pair Corr
0.78	DNFRX	Dunham Floating Rate	Pair Corr
0.75	DNIOX	Dunham International	Pair Corr
0.86	DNINX	Dunham International	Pair Corr
0.83	DNHYX	Dunham High Yield	Pair Corr
0.66	DNREX	Dunham Real Estate	Pair Corr
0.67	DAAIX	Dunham Appreciation	Pair Corr
0.82	DAAVX	Dunham Dynamic Macro	Pair Corr
0.71	DACGX	Dunham Porategovernment	Pair Corr
0.67	DADGX	Dunham Small Cap	Pair Corr
1.0	DAEMX	Dunham Emerging Markets	Pair Corr
0.78	DAFRX	Dunham Floating Rate	Pair Corr
0.81	DAHYX	Dunham High Yield	Pair Corr
0.75	DAIOX	Dunham International	Pair Corr
0.86	DAINX	Dunham International	Pair Corr
0.66	DAREX	Dunham Real Estate	Pair Corr
0.8	DCAVX	Dunham Dynamic Macro	Pair Corr
0.64	DCAIX	Dunham Appreciation	Pair Corr
0.68	DCCGX	Dunham Porategovernment	Pair Corr
0.66	DCDGX	Dunham Small Cap	Pair Corr
0.79	DCFRX	Dunham Floating Rate	Pair Corr
0.68	DCIOX	Dunham International	Pair Corr
0.86	DCINX	Dunham International	Pair Corr
0.79	DCHYX	Dunham High Yield	Pair Corr
0.64	DCREX	Dunham Real Estate	Pair Corr

Related Correlations Analysis

	NWFFX	SCRYY	AQUI	MSTSX	VIASP	KNF	ARGGY	AMPL	IO	TTNDF
NWFFX		0.05	0.0	0.94	0.81	-0.47	-0.25	-0.18	0.17	0.78	NWFFX
SCRYY	0.05		0.0	0.21	-0.36	0.59	0.03	-0.08	-0.38	-0.28	SCRYY
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.94	0.21	0.0		0.74	-0.39	-0.18	-0.13	0.09	0.69	MSTSX
VIASP	0.81	-0.36	0.0	0.74		-0.77	-0.32	0.03	0.27	0.85	VIASP
KNF	-0.47	0.59	0.0	-0.39	-0.77		0.26	-0.3	-0.2	-0.7	KNF
ARGGY	-0.25	0.03	0.0	-0.18	-0.32	0.26		-0.26	-0.13	-0.26	ARGGY
AMPL	-0.18	-0.08	0.0	-0.13	0.03	-0.3	-0.26		-0.3	-0.08	AMPL
IO	0.17	-0.38	0.0	0.09	0.27	-0.2	-0.13	-0.3		0.23	IO
TTNDF	0.78	-0.28	0.0	0.69	0.85	-0.7	-0.26	-0.08	0.23		TTNDF
	NWFFX	SCRYY	AQUI	MSTSX	VIASP	KNF	ARGGY	AMPL	IO	TTNDF

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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

MSTSX	+ 0.94	NWFFX
TTNDF	+ 0.85	VIASP
VIASP	+ 0.81	NWFFX
TTNDF	+ 0.78	NWFFX
VIASP	+ 0.74	MSTSX
TTNDF	+ 0.69	MSTSX

High negative correlations

KNF	- 0.77	VIASP
TTNDF	- 0.7	KNF
KNF	- 0.47	NWFFX
KNF	- 0.39	MSTSX
IO	- 0.38	SCRYY
VIASP	- 0.36	SCRYY

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
NWFFX	0.48	0.04	0.05	0.05	0.62	(0.48)	1.04	(1.06)	2.91
SCRYY	2.11	(0.09)	0.00	(0.05)	0.00	0.00	4.01	(4.72)	15.76
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.48	0.03	0.03	0.03	0.73	(0.45)	0.92	(1.29)	3.08
VIASP	1.32	0.29	0.13	0.21	1.79	(1.39)	3.96	(2.61)	13.41
KNF	1.45	(0.08)	0.00	(0.05)	0.00	0.00	2.47	(2.91)	8.13
ARGGY	2.07	(0.16)	0.00	(0.09)	0.00	0.00	4.40	(4.09)	10.12
AMPL	3.37	0.04	0.01	0.99	5.51	(3.42)	7.08	(9.32)	34.55
IO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TTNDF	2.73	0.41	0.10	(1.90)	2.63	(4.91)	9.12	(4.58)	28.51

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