K2 Alternative Correlations

Mutual Funds . USA . 
Fund . K2 Alternative Strategies
FASRX Fund  USD 11.37  0.03  0.26%   
The current 90-days correlation between K2 Alternative Strategies and Franklin Mutual Beacon is 0.51 (i.e., Very weak diversification). The correlation of K2 Alternative 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.

K2 Alternative Correlation With Market

Very weak diversification

The correlation between K2 Alternative Strategies and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding K2 Alternative Strategies 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 K2 Alternative Strategies. 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 metropolitan statistical area.

Moving together with FASRX Mutual Fund

  0.97TEBIX Franklin Mutual BeaconPairCorr
  0.98TEDMX Templeton DevelopingPairCorr
  0.97TEDIX Franklin Mutual GlobalPairCorr
  0.97TEDSX Franklin Mutual GlobalPairCorr
  0.97TEDRX Franklin Mutual GlobalPairCorr
  0.97TEFRX Templeton ForeignPairCorr
  0.97TEFTX Templeton ForeignPairCorr
  0.93TEGBX Templeton Global BondPairCorr
  0.99TEGRX Templeton GrowthPairCorr
  0.97TEMFX Templeton ForeignPairCorr
  0.96TEMGX Templeton Global SmallerPairCorr
  0.97TEMEX Franklin Mutual BeaconPairCorr
  0.98TEMMX Templeton EmergingPairCorr
  0.97TEMIX Franklin Mutual EuropeanPairCorr
  0.98TEMWX Templeton WorldPairCorr
  0.97TEMTX Franklin Mutual SharesPairCorr
  0.97TEMQX Mutual QuestPairCorr
  0.96SAIFX Clearbridge Large CapPairCorr
  0.96SAGYX Clearbridge AggressivePairCorr
  0.98TEMZX Templeton EmergingPairCorr
  0.99TEPLX Templeton GrowthPairCorr
  0.98TWDAX Templeton WorldPairCorr
  0.97TESIX Franklin Mutual SharesPairCorr
  0.97TESRX Franklin Mutual SharesPairCorr
  0.92LGGAX Clearbridge InternationalPairCorr
  0.96TEURX Franklin Mutual EuropeanPairCorr
  0.98TEWTX Templeton WorldPairCorr
  0.98SAPYX Clearbridge AppreciationPairCorr
  0.92WAADX Western Asset SmashPairCorr
  0.87WAARX Western Asset TotalPairCorr
  0.72WACPX Western Asset EPairCorr
  0.75WABAX Western Asset EPairCorr
  0.97LGVAX Clearbridge Value TrustPairCorr
  0.96TFEQX International EquityPairCorr
  0.76WAFAX Western Asset InflationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between FASRX Mutual Fund performing well and K2 Alternative 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 K2 Alternative'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TEBIX  0.56  0.09  0.06  0.26  0.43 
(0.63)
 1.43 
(1.12)
 3.58 
TEDMX  0.58  0.22  0.22  0.58  0.15 
(0.73)
 1.58 
(1.27)
 4.48 
TEDIX  0.51  0.07  0.02  0.24  0.50 
(0.53)
 1.12 
(1.33)
 3.32 
TEDSX  0.51  0.06  0.02  0.23  0.52 
(0.53)
 1.15 
(1.32)
 3.37 
TEDRX  0.51  0.07  0.02  0.24  0.51 
(0.53)
 1.12 
(1.33)
 3.36 
TEFRX  0.66  0.14  0.11  0.37  0.46 
(0.82)
 1.76 
(1.39)
 4.25 
TEFTX  0.65  0.14  0.11  0.37  0.48 
(0.81)
 1.71 
(1.35)
 4.24 
TEGBX  0.33  0.08 (0.13)(1.16) 0.19 
(0.44)
 0.87 
(0.43)
 2.11 
TEGRX  0.54  0.16  0.16  0.35  0.25 
(0.62)
 1.83 
(1.01)
 3.53 
TEMFX  0.66  0.14  0.11  0.38  0.44 
(0.80)
 1.72 
(1.35)
 4.14 

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