Knights Of Correlations

KCSSX Fund

USD 11.91 0.27 2.32%

The current 90-days correlation between Knights Of Umbus and Qs International Equity is 0.47 (i.e., Very 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

Very weak diversification

The correlation between Knights Of Umbus and DJI is 0.43 (i.e., Very weak 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

0.81	KCGSX	Knights Of Umbus	Pair Corr
0.81	KCGIX	Kngt Clb Larg	Pair Corr
1.0	KCSIX	Kngt Clb Sml	Pair Corr
0.89	KCVSX	Knights Of Umbus	Pair Corr
0.89	KCVIX	Kngt Clb Larg	Pair Corr
0.82	KCXIX	Knights Of Columbus	Pair Corr
0.88	VSMAX	Vanguard Small Cap	Pair Corr
0.88	VSCIX	Vanguard Small Cap	Pair Corr
0.88	VSCPX	Vanguard Small Cap	Pair Corr
0.88	NAESX	Vanguard Small Cap	Pair Corr
0.93	FSSNX	Fidelity Small Cap	Pair Corr
0.91	DFSTX	Us Small Cap	Pair Corr
0.89	PASVX	T Rowe Price	Pair Corr
0.89	PRVIX	T Rowe Price	Pair Corr
0.89	TRZVX	T Rowe Price	Pair Corr
0.89	PRSVX	T Rowe Price	Pair Corr
0.85	WHIYX	Ivy High Income	Pair Corr
0.83	IVHIX	Ivy High Income	Pair Corr
0.83	IHIFX	Ivy High Income	Pair Corr
0.88	WRHIX	Ivy High Income	Pair Corr
0.85	WHIAX	Ivy High Income	Pair Corr

Moving against Knights Mutual Fund

0.72	KCLSX	Knights Of Umbus	Pair Corr
0.71	KCLIX	Knights Of Columbus	Pair Corr
0.4	KCISX	Knights Of Umbus	Pair Corr
0.4	KCIIX	Kngt Clb Eqy	Pair Corr
0.78	NUSAX	Nationwide Government	Pair Corr
0.76	AOUNX	Angel Oak Ultrashort	Pair Corr
0.56	HILRX	Hartford Interna	Pair Corr
0.54	NMI	Nuveen Municipalome	Pair Corr
0.51	CBOCX	Intermediate Bond	Pair Corr
0.5	FPPRX	Mfs Prudent Investor	Pair Corr
0.34	PAELX	T Rowe Price	Pair Corr
0.31	SSTDX	Saat Servative Strategy	Pair Corr

Related Correlations Analysis

	LGFEX	SPRDX	MFIRX	DSDYX	EXDAX	FODJX	SMNIX
LGFEX		0.89	0.86	0.83	0.9	0.74	0.42	LGFEX
SPRDX	0.89		0.69	0.81	0.8	0.66	0.39	SPRDX
MFIRX	0.86	0.69		0.82	0.83	0.53	0.54	MFIRX
DSDYX	0.83	0.81	0.82		0.91	0.68	0.43	DSDYX
EXDAX	0.9	0.8	0.83	0.91		0.86	0.26	EXDAX
FODJX	0.74	0.66	0.53	0.68	0.86		0.06	FODJX
SMNIX	0.42	0.39	0.54	0.43	0.26	0.06		SMNIX
	LGFEX	SPRDX	MFIRX	DSDYX	EXDAX	FODJX	SMNIX

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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
LGFEX	0.70	0.11	0.12	0.00	1.17	(0.67)	1.16	(1.61)	5.04
SPRDX	0.67	(0.02)	0.12	0.03	1.16	(0.62)	1.35	(1.59)	5.00
MFIRX	0.11	0.01	0.56	(0.35)	0.00	(0.21)	0.19	(0.19)	0.77
DSDYX	0.18	(0.01)	0.00	(0.32)	0.00	0.00	0.34	(0.39)	1.48
EXDAX	0.21	0.01	0.00	(0.11)	0.00	0.00	0.39	(0.38)	1.46
FODJX	0.55	0.00	0.00	(0.14)	0.00	0.00	1.11	(1.17)	2.80
SMNIX	0.44	0.01	0.34	(0.29)	0.41	(0.59)	1.00	(0.85)	2.62

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