Knights Of Correlations

KCEIX Fund

USD 12.09 0.03 0.25%

The current 90-days correlation between Knights Of Columbus and Elfun Government Money is 0.01 (i.e., Significant diversification). The correlation of Knights Of 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.

Knights Of Correlation With Market

Very weak diversification

The correlation between Knights Of Columbus and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knights Of Columbus and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Knights Of Columbus. 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 gross domestic product.

Moving together with Knights Mutual Fund

0.63	KCGSX	Knights Of Umbus	Pair Corr
0.64	KCGIX	Kngt Clb Larg	Pair Corr
0.8	KCISX	Knights Of Umbus	Pair Corr
0.81	KCIIX	Kngt Clb Eqy	Pair Corr
0.62	KCSIX	Kngt Clb Sml	Pair Corr
0.62	KCSSX	Knights Of Umbus	Pair Corr
0.67	KCVSX	Knights Of Umbus	Pair Corr
0.67	KCVIX	Kngt Clb Larg	Pair Corr
0.64	KCXIX	Knights Of Columbus	Pair Corr
0.86	NLSCX	Neuberger Berman Long	Pair Corr
0.86	NLSAX	Neuberger Berman Long	Pair Corr
0.66	DHLSX	Diamond Hill Long	Pair Corr
0.85	DIAYX	Diamond Hill Long	Pair Corr
0.66	DIAMX	Diamond Hill Long	Pair Corr
0.84	ASLAX	Ab Select Longshort	Pair Corr
0.67	FTCAX	Templeton Strained Bond	Pair Corr
0.79	CODRX	Columbia Amt Free	Pair Corr
0.91	MFAIX	International Advantage	Pair Corr
0.62	LTTKX	Mfs Lifetime 2025	Pair Corr
0.66	CRDUX	Blackrock Credit Str	Pair Corr

Moving against Knights Mutual Fund

0.6	USPIX	Profunds Ultrashort	Pair Corr
0.6	UIPIX	Ultrashort Mid Cap	Pair Corr
0.57	USPSX	Profunds Ultrashort	Pair Corr
0.55	TCTGX	Transamerica Cleartrack	Pair Corr
0.55	TDKTX	Cleartrack 2015 Class	Pair Corr
0.55	TCTJX	Transamerica Cleartrack	Pair Corr
0.55	TCSUX	Cleartrack 2020 Class	Pair Corr
0.43	PWLMX	Pimco Rae Worldwide	Pair Corr
0.41	PWLIX	Pimco Rae Worldwide	Pair Corr

Related Correlations Analysis

	ELMXX	STSEX	IVMXX	PBMXX	FMVUX	AEYXX	QCMMIX
ELMXX		0.73	0.83	0.83	0.67	0.0	0.56	ELMXX
STSEX	0.73		0.8	0.8	0.96	0.0	0.94	STSEX
IVMXX	0.83	0.8		1.0	0.73	0.0	0.63	IVMXX
PBMXX	0.83	0.8	1.0		0.73	0.0	0.63	PBMXX
FMVUX	0.67	0.96	0.73	0.73		0.0	0.93	FMVUX
AEYXX	0.0	0.0	0.0	0.0	0.0		0.0	AEYXX
QCMMIX	0.56	0.94	0.63	0.63	0.93	0.0		QCMMIX
	ELMXX	STSEX	IVMXX	PBMXX	FMVUX	AEYXX	QCMMIX

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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

PBMXX	+ 1.0	IVMXX
FMVUX	+ 0.96	STSEX
QCMMIX	+ 0.94	STSEX
QCMMIX	+ 0.93	FMVUX
IVMXX	+ 0.83	ELMXX
PBMXX	+ 0.83	ELMXX

High negative correlations

QCMMIX	- 0.0	AEYXX
AEYXX	- 0.0	FMVUX
AEYXX	- 0.0	PBMXX
AEYXX	- 0.0	IVMXX
AEYXX	- 0.0	STSEX
AEYXX	- 0.0	ELMXX

Risk-Adjusted Indicators

There is a big difference between Knights Mutual Fund performing well and Knights Of 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 Knights Of'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
ELMXX	0.03	0.00	0.00	2.12	0.00	0.00	0.00	0.00	1.01
STSEX	0.57	0.06	0.03	0.23	0.44	(0.62)	1.60	(0.93)	3.33
IVMXX	0.03	0.01	0.00	4.82	0.00	0.00	0.00	0.00	1.01
PBMXX	0.03	0.01	0.00	4.82	0.00	0.00	0.00	0.00	1.01
FMVUX	0.77	0.22	0.07	(1.58)	0.70	(0.89)	1.98	(1.37)	5.60
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QCMMIX	0.02	0.01	0.00	(4.10)	0.00	0.00	0.03	0.00	0.07

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