Dunham High Yield Fund Market Value
| DAHYX Fund | USD 8.57 0.04 0.46% |
| Symbol | Dunham |
Dunham High 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Dunham High's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Dunham High.
| 03/18/2024 |
| 04/17/2024 |
If you would invest 0.00 in Dunham High on March 18, 2024 and sell it all today you would earn a total of 0.00 from holding Dunham High Yield or generate 0.0% return on investment in Dunham High over 30 days. Dunham High is related to or competes with Dunham Dynamic, Dunham Appreciation, Dunham Corporate/govern, Dunham Small, Dunham Emerging, Dunham Focused, and Dunham Floating. Under normal market conditions, the fund invests at least 80 percent of its assets in debt securities and convertible securities rated below investment grade by SP or comparably rated by another nationally recognized statistical rating organization , also known as high-yield or junk bonds, and in unrated debt securities determined by the Sub-Adviser to be of comparable quality. More
Dunham High Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Dunham High's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Dunham High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2922 | |||
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 1.15 | |||
| Value At Risk | (0.46) | |||
| Potential Upside | 0.2336 |
Dunham High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dunham High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dunham High's standard deviation. In reality, there are many statistical measures that can use Dunham High historical prices to predict the future Dunham High's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.19) | |||
| Treynor Ratio | (0.05) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Dunham High's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Dunham High Yield Backtested Returns
We consider Dunham High very steady. Dunham High Yield secures Sharpe Ratio (or Efficiency) of 0.0354, which denotes the fund had a 0.0354% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Dunham High Yield, which you can use to evaluate the volatility of the entity. Please confirm Dunham High's Coefficient Of Variation of 10952.39, mean deviation of 0.1633, and Downside Deviation of 0.2922 to check if the risk estimate we provide is consistent with the expected return of 0.0077%. The fund shows a Beta (market volatility) of 0.17, which means not very significant fluctuations relative to the market. As returns on the market increase, Dunham High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Dunham High is expected to be smaller as well.
Auto-correlation | 0.20 |
Weak predictability
Dunham High Yield has weak predictability. Overlapping area represents the amount of predictability between Dunham High time series from 18th of March 2024 to 2nd of April 2024 and 2nd of April 2024 to 17th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Dunham High Yield price movement. The serial correlation of 0.2 indicates that over 20.0% of current Dunham High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | -0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Dunham High Yield lagged returns against current returns
Autocorrelation, which is Dunham High mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Dunham High's mutual fund expected returns. We can calculate the autocorrelation of Dunham High returns to help us make a trade decision. For example, suppose you find that Dunham High has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Dunham High regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Dunham High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dunham High mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dunham High mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Dunham High Lagged Returns
When evaluating Dunham High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dunham High mutual fund have on its future price. Dunham High autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Dunham High autocorrelation shows the relationship between Dunham High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Dunham High Yield.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Dunham High in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Dunham High's short interest history, or implied volatility extrapolated from Dunham High options trading.
Pair Trading with Dunham High
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Dunham High position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Dunham High will appreciate offsetting losses from the drop in the long position's value.Moving together with Dunham Mutual Fund
| 0.9 | DNAVX | Dunham Dynamic Macro | PairCorr |
| 0.73 | DNAIX | Dunham Appreciation | PairCorr |
| 0.8 | DNDGX | Dunham Small Cap | PairCorr |
| 0.81 | DNEMX | Dunham Emerging Markets | PairCorr |
The ability to find closely correlated positions to Dunham High 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 High 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 High - 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 High Yield to buy it.
The correlation of Dunham High 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 High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dunham High Yield 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.
Correlation analysis and pair trading evaluation for Dunham High can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Dunham High Correlation, Dunham High Volatility and Dunham High Alpha and Beta module to complement your research on Dunham High. You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Dunham High technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.