Kinetics Multi-disciplina Correlations

KMDNX Fund

USD 9.97 0.01 0.10%

The current 90-days correlation between Kinetics Multi-disciplina and Kinetics Market Opportunities is -0.06 (i.e., Good diversification). The correlation of Kinetics Multi-disciplina 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.

Kinetics Multi-disciplina Correlation With Market

Good diversification

The correlation between Kinetics Multi Disciplinary In and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Multi Disciplinary In 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 Kinetics Multi Disciplinary Income. 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 board of governors.

Moving together with Kinetics Mutual Fund

0.87	PONAX	Pimco Income	Pair Corr
0.86	PONCX	Pimco Income	Pair Corr
0.87	PIPNX	Pimco Income	Pair Corr
0.86	PONRX	Pimco Income	Pair Corr
0.87	PONPX	Pimco Incme Fund	Pair Corr
0.88	PIINX	Pimco Income	Pair Corr
0.87	PIMIX	Pimco Income	Pair Corr
0.96	LBNDX	Lord Abbett Bond	Pair Corr
0.96	FSTAX	Fidelity Advisor Str	Pair Corr
0.95	FSRIX	Fidelity Advisor Str	Pair Corr
0.93	PFN	Pimco Income Strategy	Pair Corr
0.91	CIF	Mfs Intermediate High	Pair Corr
0.89	PCF	Putnam High Income	Pair Corr

Moving against Kinetics Mutual Fund

0.83	LSHEX	Kinetics Spin Off	Pair Corr
0.83	LSHCX	Horizon Spin Off	Pair Corr
0.83	LSHAX	Horizon Spin Off	Pair Corr
0.82	LSHUX	Horizon Spin Off	Pair Corr
0.76	KNPCX	Kinetics Paradigm	Pair Corr
0.75	WWNPX	Kinetics Paradigm	Pair Corr
0.75	KNPAX	Kinetics Paradigm	Pair Corr
0.75	KNPYX	Kinetics Paradigm	Pair Corr
0.72	KSCYX	Kinetics Small Cap	Pair Corr
0.72	KSCOX	Kinetics Small Cap	Pair Corr
0.72	KSOAX	Kinetics Small Cap	Pair Corr
0.72	KSOCX	Kinetics Small Cap	Pair Corr
0.59	KMKCX	Kinetics Market Oppo	Pair Corr
0.58	KMKAX	Kinetics Market Oppo	Pair Corr
0.58	KMKNX	Kinetics Market Oppo	Pair Corr
0.57	KMKYX	Kinetics Market Oppo	Pair Corr
0.67	XNBHX	Neuberger Berman Int	Pair Corr
0.61	XDSMX	Dreyfus Strategic	Pair Corr

Related Correlations Analysis

	KMKNX	KSCOX	WWWEX	WWNPX	DLENX
KMKNX		0.98	0.4	0.97	-0.52	KMKNX
KSCOX	0.98		0.21	1.0	-0.66	KSCOX
WWWEX	0.4	0.21		0.17	0.53	WWWEX
WWNPX	0.97	1.0	0.17		-0.7	WWNPX
DLENX	-0.52	-0.66	0.53	-0.7		DLENX
	KMKNX	KSCOX	WWWEX	WWNPX	DLENX

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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

WWNPX	+ 1.0	KSCOX
KSCOX	+ 0.98	KMKNX
WWNPX	+ 0.97	KMKNX
DLENX	+ 0.53	WWWEX
WWWEX	+ 0.4	KMKNX
WWWEX	+ 0.21	KSCOX

High negative correlations

DLENX	- 0.7	WWNPX
DLENX	- 0.66	KSCOX
DLENX	- 0.52	KMKNX

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Multi-disciplina 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 Kinetics Multi-disciplina'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
KMKNX	0.79	(0.08)	0.00	(0.06)	0.00	0.00	1.43	(2.02)	5.99
KSCOX	1.00	(0.17)	0.00	(0.18)	0.00	0.00	2.13	(2.49)	7.18
WWWEX	0.56	0.07	(0.03)	0.36	0.54	(0.60)	1.24	(1.09)	3.98
WWNPX	1.26	(0.22)	0.00	(0.22)	0.00	0.00	2.58	(2.98)	9.15
DLENX	0.10	0.04	(0.68)	1.01	0.00	(0.17)	0.23	(0.11)	0.57

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