Knights Of Correlations

KCLSX Fund  USD 9.76  0.01  0.10%   
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 0.12 (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

  0.94KCCIX Knights Of ColumbusPairCorr
  0.93KCCSX Knights Of UmbusPairCorr
  0.89KCISX Knights Of UmbusPairCorr
  0.89KCIIX Kngt Clb EqyPairCorr
  0.99KCLIX Knights Of ColumbusPairCorr
  0.76VBIRX Vanguard Short TermPairCorr
  0.74VFSUX Vanguard Short TermPairCorr
  0.79VFSIX Vanguard Short TermPairCorr
  0.78VFSTX Vanguard Short TermPairCorr
  0.79VBITX Vanguard Short TermPairCorr
  0.79VBISX Vanguard Short TermPairCorr
  0.68LALDX Lord Abbett ShortPairCorr
  0.78VSCSX Vanguard Short TermPairCorr
  0.96LDLAX Lord Abbett ShortPairCorr
  0.69LDLRX Lord Abbett ShortPairCorr
  0.67UGPIX Ultrachina ProfundPairCorr
  0.67UGPSX Ultrachina ProfundPairCorr
  0.76NAIGX Nuveen Nwq InternationalPairCorr
  0.86CPXZX Cohen Steers PreferredPairCorr
  0.99GILFX Guggenheim LimitedPairCorr
  0.92LGIEX Qs International EquityPairCorr
  0.61PRIJX T Rowe PricePairCorr
  0.87HRLTX Hartford GlobalPairCorr
  0.82LCDTX Lord Abbett EmergingPairCorr
  0.95GIOCX Guggenheim Macro OppPairCorr
  0.75TSWIX Transamerica InternationalPairCorr
  0.95PMACX Pioneer Multi AssetPairCorr

Moving against Knights Mutual Fund

  0.74KCSIX Kngt Clb SmlPairCorr
  0.74KCSSX Knights Of UmbusPairCorr
  0.65KCGIX Kngt Clb LargPairCorr
  0.54KCXIX Knights Of ColumbusPairCorr
  0.41KCGSX Knights Of UmbusPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
BBINXBMBSX
BMBSXRGVAX
BBINXRGVAX
RGVAXFCSCX
MMZQXBBINX
MMZQXBMBSX
  
High negative correlations   
MMZQXTUGXX
TUGXXBBINX
TUGXXBMBSX
TUGXXRGVAX
TUGXXFCSCX
MMZQXGFAXX

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.