Kinetics Paradigm Correlations

Mutual Funds . USA . 
Fund . Kinetics Paradigm Fund
KNPAX Fund  USD 123.87  0.02  0.02%   
The current 90-days correlation between Kinetics Paradigm and Leader Short Term Bond is -0.27 (i.e., Very good diversification). The correlation of Kinetics Paradigm 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 Paradigm Correlation With Market

Weak diversification

The correlation between Kinetics Paradigm Fund and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Paradigm Fund 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 Paradigm Fund. 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 nation.

Moving together with Kinetics Mutual Fund

  1.0WWNPX Kinetics ParadigmPairCorr
  0.97KMKCX Kinetics Market OppoPairCorr
  0.97KMKAX Kinetics Market OppoPairCorr
  0.97KMKNX Kinetics Market OppoPairCorr
  0.97KMKYX Kinetics Market OppoPairCorr
  1.0KNPCX Kinetics ParadigmPairCorr
  1.0KNPYX Kinetics ParadigmPairCorr
  0.99LSHEX Kinetics Spin OffPairCorr
  0.99LSHUX Horizon Spin OffPairCorr
  0.99LSHCX Horizon Spin OffPairCorr
  0.99LSHAX Horizon Spin OffPairCorr
  1.0KSCYX Kinetics Small CapPairCorr
  1.0KSCOX Kinetics Small CapPairCorr
  1.0KSOAX Kinetics Small CapPairCorr
  1.0KSOCX Kinetics Small CapPairCorr

Moving against Kinetics Mutual Fund

  0.75KMDNX Kinetics Multi-disciplinaPairCorr
  0.75LIIAX Columbia Porate IncomePairCorr
  0.75SRINX Columbia Porate IncomePairCorr
  0.67IHIFX Ivy High IncomePairCorr
  0.65WHIAX Ivy High IncomePairCorr
  0.65IVHIX Ivy High IncomePairCorr
  0.63WRHIX Ivy High IncomePairCorr
  0.6VFINX Vanguard 500 IndexPairCorr
  0.59MURMX Mutual Of AmericaPairCorr
  0.59LRAGX Lord Abbett InternationalPairCorr
  0.59FRCYX Fidelity SustainablePairCorr
  0.55FCITX Franklin Federal IntPairCorr
  0.54TRQZX T Rowe PricePairCorr
  0.53PAMCX T Rowe PricePairCorr
  0.53RRMGX T Rowe PricePairCorr
  0.53RPMGX T Rowe PricePairCorr
  0.5TRUZX T Rowe PricePairCorr
  0.49PRJIX T Rowe PricePairCorr
  0.49PRNHX T Rowe PricePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Paradigm 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 Paradigm'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.

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