Knights Of Correlations

KCCSX Fund

USD 8.58 0.01 0.12%

The current 90-days correlation between Knights Of Umbus and Alliancebernstein Global Highome is 0.38 (i.e., Weak 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

Average diversification

The correlation between Knights Of Umbus and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knights Of Umbus 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 Umbus. 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 state.

Moving together with Knights Mutual Fund

1.0	KCCIX	Knights Of Columbus	Pair Corr
0.74	KCISX	Knights Of Umbus	Pair Corr
0.74	KCIIX	Kngt Clb Eqy	Pair Corr
0.64	KCLIX	Knights Of Columbus	Pair Corr
0.65	KCLSX	Knights Of Umbus	Pair Corr
0.69	KCRIX	Knights Of Columbus	Pair Corr
0.97	VBTLX	Vanguard Total Bond	Pair Corr
0.97	VBMFX	Vanguard Total Bond	Pair Corr
0.97	VBTIX	Vanguard Total Bond	Pair Corr
0.97	VTBSX	Vanguard Total Bond	Pair Corr
0.97	VTBIX	Vanguard Total Bond	Pair Corr
0.97	VTBNX	Vanguard Total Bond	Pair Corr
0.95	BFAFX	Bond Fund	Pair Corr
0.95	ABNDX	Bond Fund	Pair Corr
0.95	BFACX	Bond Fund	Pair Corr
0.95	FFBOX	American Funds	Pair Corr
0.67	PDI	Pimco Dynamic Income	Pair Corr

Moving against Knights Mutual Fund

0.42	KCEIX	Knights Of Columbus	Pair Corr
0.9	RPIEX	T Rowe Price	Pair Corr
0.76	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.62	CREMX	Redwood Real Estate	Pair Corr
0.52	IGOIX	Rational Inflation Growth	Pair Corr
0.44	PYARX	Payden Absolute Return	Pair Corr
0.4	FOCPX	Fidelity Otc Portfolio	Pair Corr
0.37	PYAIX	Payden Absolute Return	Pair Corr
0.36	OOSYX	Oppenheimer Senior	Pair Corr
0.36	MUIIX	Ultra Short Income	Pair Corr
0.35	VIGAX	Vanguard Growth Index	Pair Corr
0.34	DRGTX	Allianzgi Technology	Pair Corr

Related Correlations Analysis

	XAWFX	RGELX	ANAGX	ANAZX	ZGFIX	GAFAX	WRLDX	SMYIX
XAWFX		0.63	0.8	0.81	0.52	0.73	0.72	0.7	XAWFX
RGELX	0.63		0.26	0.34	0.83	0.79	0.58	0.93	RGELX
ANAGX	0.8	0.26		0.97	0.25	0.56	0.58	0.38	ANAGX
ANAZX	0.81	0.34	0.97		0.42	0.66	0.47	0.42	ANAZX
ZGFIX	0.52	0.83	0.25	0.42		0.84	0.23	0.72	ZGFIX
GAFAX	0.73	0.79	0.56	0.66	0.84		0.5	0.77	GAFAX
WRLDX	0.72	0.58	0.58	0.47	0.23	0.5		0.75	WRLDX
SMYIX	0.7	0.93	0.38	0.42	0.72	0.77	0.75		SMYIX
	XAWFX	RGELX	ANAGX	ANAZX	ZGFIX	GAFAX	WRLDX	SMYIX

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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
XAWFX	0.13	(0.03)	0.00	5.59	0.00	0.00	0.18	(0.44)	0.88
RGELX	0.53	0.00	(0.02)	(0.02)	0.83	(0.54)	1.03	(1.29)	4.49
ANAGX	0.17	(0.05)	0.00	(1.86)	0.00	0.00	0.29	(0.29)	1.01
ANAZX	0.19	(0.04)	0.00	(1.68)	0.00	0.00	0.29	(0.44)	1.16
ZGFIX	0.45	0.00	(0.02)	(0.21)	0.71	(0.43)	0.78	(1.01)	3.74
GAFAX	0.26	(0.02)	0.00	(0.22)	0.00	0.00	0.57	(0.57)	1.90
WRLDX	0.51	(0.10)	0.00	(0.33)	0.00	0.00	0.86	(1.04)	5.22
SMYIX	0.62	(0.02)	0.00	(0.03)	0.00	0.00	1.07	(1.30)	5.78

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