Knights Of Correlations

KCISX Fund

USD 12.31 0.07 0.57%

The current 90-days correlation between Knights Of Umbus and Knights Of Columbus is 0.3 (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 0.15 (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

0.74	KCCIX	Knights Of Columbus	Pair Corr
0.72	KCCSX	Knights Of Umbus	Pair Corr
1.0	KCIIX	Kngt Clb Eqy	Pair Corr
0.69	KCRIX	Knights Of Columbus	Pair Corr
0.97	VGTSX	Vanguard Total Inter	Pair Corr
0.96	VTIAX	Vanguard Total Inter	Pair Corr
0.96	VTSNX	Vanguard Total Inter	Pair Corr
0.96	VTPSX	Vanguard Total Inter	Pair Corr
0.97	VTISX	Vanguard Total Inter	Pair Corr
0.93	VTMGX	Vanguard Developed	Pair Corr
0.97	VDVIX	Vanguard Developed	Pair Corr
0.93	VTMNX	Vanguard Developed	Pair Corr
0.97	VDIPX	Vanguard Developed	Pair Corr
0.92	FSPSX	Fidelity International	Pair Corr
0.97	BTMPX	Ishares Msci Eafe	Pair Corr
0.91	BTMKX	Blackrock International	Pair Corr
0.97	MDIIX	Blackrock Intern Index	Pair Corr

Moving against Knights Mutual Fund

0.77	KCEIX	Knights Of Columbus	Pair Corr
0.63	KCGSX	Knights Of Umbus	Pair Corr
0.57	KCGIX	Kngt Clb Larg	Pair Corr
0.4	KCXIX	Knights Of Columbus	Pair Corr
0.56	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.56	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.55	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.48	COGVX	Cognios Large Cap	Pair Corr
0.76	FFRHX	Fidelity Advisor Floating	Pair Corr
0.74	MISXX	Morgan Stanley Insti	Pair Corr
0.7	FOCPX	Fidelity Otc Portfolio	Pair Corr
0.69	JUCIX	Janus Global Unconst	Pair Corr
0.69	VIGAX	Vanguard Growth Index	Pair Corr
0.56	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	KCCIX	KCCSX	KCEIX	KCGSX	KCGIX	KCISX	KCIIX	KCLIX	KCLSX	KCRIX
KCCIX		0.89	-0.41	-0.23	-0.21	0.74	0.74	0.48	0.55	0.69	KCCIX
KCCSX	0.89		-0.47	-0.26	-0.27	0.72	0.72	0.6	0.57	0.49	KCCSX
KCEIX	-0.41	-0.47		0.88	0.88	-0.77	-0.77	0.15	0.17	-0.35	KCEIX
KCGSX	-0.23	-0.26	0.88		0.94	-0.63	-0.63	0.39	0.4	-0.26	KCGSX
KCGIX	-0.21	-0.27	0.88	0.94		-0.57	-0.56	0.32	0.36	-0.21	KCGIX
KCISX	0.74	0.72	-0.77	-0.63	-0.57		1.0	0.06	0.11	0.69	KCISX
KCIIX	0.74	0.72	-0.77	-0.63	-0.56	1.0		0.06	0.11	0.69	KCIIX
KCLIX	0.48	0.6	0.15	0.39	0.32	0.06	0.06		0.84	0.03	KCLIX
KCLSX	0.55	0.57	0.17	0.4	0.36	0.11	0.11	0.84		0.16	KCLSX
KCRIX	0.69	0.49	-0.35	-0.26	-0.21	0.69	0.69	0.03	0.16		KCRIX
	KCCIX	KCCSX	KCEIX	KCGSX	KCGIX	KCISX	KCIIX	KCLIX	KCLSX	KCRIX

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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

KCIIX	+ 1.0	KCISX
KCGIX	+ 0.94	KCGSX
KCCSX	+ 0.89	KCCIX
KCGSX	+ 0.88	KCEIX
KCGIX	+ 0.88	KCEIX
KCLSX	+ 0.84	KCLIX

High negative correlations

KCIIX	- 0.77	KCEIX
KCISX	- 0.77	KCEIX
KCIIX	- 0.63	KCGSX
KCISX	- 0.63	KCGSX
KCISX	- 0.57	KCGIX
KCIIX	- 0.56	KCGIX

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
KCCIX	0.22	(0.07)	0.00	(1.21)	0.00	0.00	0.45	(0.58)	1.50
KCCSX	0.23	(0.07)	0.00	14.29	0.00	0.00	0.46	(0.58)	1.50
KCEIX	0.24	0.05	0.13	1.14	0.02	(0.31)	0.50	(0.42)	2.19
KCGSX	0.63	0.04	0.03	0.91	0.95	(0.61)	1.30	(1.26)	5.71
KCGIX	0.63	0.08	0.06	0.53	0.92	(0.62)	1.30	(1.25)	5.72
KCISX	0.50	(0.11)	0.00	(0.92)	0.00	0.00	0.84	(1.37)	3.32
KCIIX	0.49	(0.11)	0.00	(0.92)	0.00	0.00	0.84	(1.36)	3.31
KCLIX	0.08	(0.03)	0.00	(1.98)	0.00	0.00	0.10	(0.10)	1.23
KCLSX	0.08	0.00	0.00	0.00	0.00	0.00	0.10	(0.10)	1.23
KCRIX	0.75	(0.12)	0.00	(0.51)	0.00	0.00	1.25	(1.69)	5.45

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