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

0.94	KCCIX	Knights Of Columbus	Pair Corr
0.93	KCCSX	Knights Of Umbus	Pair Corr
0.89	KCISX	Knights Of Umbus	Pair Corr
0.89	KCIIX	Kngt Clb Eqy	Pair Corr
0.99	KCLIX	Knights Of Columbus	Pair Corr
0.76	VBIRX	Vanguard Short Term	Pair Corr
0.95	VFSUX	Vanguard Short Term	Pair Corr
0.98	VFSIX	Vanguard Short Term	Pair Corr
0.78	VFSTX	Vanguard Short Term	Pair Corr
0.98	VBITX	Vanguard Short Term	Pair Corr
0.99	VBISX	Vanguard Short Term	Pair Corr
0.96	LALDX	Lord Abbett Short	Pair Corr
0.78	VSCSX	Vanguard Short Term	Pair Corr
0.96	LDLAX	Lord Abbett Short	Pair Corr
0.96	LDLRX	Lord Abbett Short	Pair Corr
0.67	UGPIX	Ultrachina Profund	Pair Corr
0.67	UGPSX	Ultrachina Profund	Pair Corr
0.84	GFSZX	Strategic Alternatives	Pair Corr
0.76	NAIGX	Nuveen Nwq International	Pair Corr
0.86	CPXZX	Cohen Steers Preferred	Pair Corr
0.99	GILFX	Guggenheim Limited	Pair Corr
0.92	LGIEX	Qs International Equity	Pair Corr
0.71	PRIJX	T Rowe Price	Pair Corr
0.87	HRLTX	Hartford Global	Pair Corr
0.82	LCDTX	Lord Abbett Emerging	Pair Corr
0.95	GIOCX	Guggenheim Macro Opp	Pair Corr
0.75	TSWIX	Transamerica International	Pair Corr
0.95	PMACX	Pioneer Multi Asset	Pair Corr

Moving against Knights Mutual Fund

0.74	KCSIX	Kngt Clb Sml	Pair Corr
0.74	KCSSX	Knights Of Umbus	Pair Corr
0.65	KCGIX	Kngt Clb Larg	Pair Corr
0.54	KCXIX	Knights Of Columbus	Pair Corr
0.41	KCGSX	Knights Of Umbus	Pair Corr

Related Correlations Analysis

	GFAXX	FCSCX	RGVAX	BMBSX	BBINX	TUGXX	MMZQX
GFAXX		0.0	0.0	0.0	0.0	0.0	0.0	GFAXX
FCSCX	0.0		0.78	0.61	0.61	0.0	0.71	FCSCX
RGVAX	0.0	0.78		0.91	0.87	0.0	0.71	RGVAX
BMBSX	0.0	0.61	0.91		0.95	0.0	0.76	BMBSX
BBINX	0.0	0.61	0.87	0.95		0.0	0.77	BBINX
TUGXX	0.0	0.0	0.0	0.0	0.0		0.0	TUGXX
MMZQX	0.0	0.71	0.71	0.76	0.77	0.0		MMZQX
	GFAXX	FCSCX	RGVAX	BMBSX	BBINX	TUGXX	MMZQX

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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

BBINX	+ 0.95	BMBSX
BMBSX	+ 0.91	RGVAX
BBINX	+ 0.87	RGVAX
RGVAX	+ 0.78	FCSCX
MMZQX	+ 0.77	BBINX
MMZQX	+ 0.76	BMBSX

High negative correlations

MMZQX	- 0.0	TUGXX
TUGXX	- 0.0	BBINX
TUGXX	- 0.0	BMBSX
TUGXX	- 0.0	RGVAX
TUGXX	- 0.0	FCSCX
MMZQX	- 0.0	GFAXX

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
GFAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FCSCX	0.06	0.01	1.06	0.37	0.00	(0.19)	0.13	(0.13)	0.66
RGVAX	0.26	0.01	0.44	0.11	0.27	(0.32)	0.60	(0.43)	1.56
BMBSX	0.11	(0.01)	0.00	(0.53)	0.00	0.00	0.18	(0.27)	0.71
BBINX	0.14	(0.02)	0.00	0.84	0.00	0.00	0.29	(0.30)	0.78
TUGXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MMZQX	0.08	(0.01)	0.66	(1.57)	0.11	(0.12)	0.20	(0.30)	0.51

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