Knights Of Correlations

KCVSX Fund

USD 17.02 0.13 0.77%

The current 90-days correlation between Knights Of Umbus and Pgim High Yield is 0.2 (i.e., Modest 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

Significant diversification

The correlation between Knights Of Umbus and DJI is 0.05 (i.e., Significant 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	KCRIX	Knights Of Columbus	Pair Corr
0.95	KCSIX	Kngt Clb Sml	Pair Corr
0.95	KCSSX	Knights Of Umbus	Pair Corr
1.0	KCVIX	Kngt Clb Larg	Pair Corr
0.87	VVIAX	Vanguard Value Index	Pair Corr
0.92	DOXGX	Dodge Cox Stock	Pair Corr
0.85	AFMFX	American Mutual	Pair Corr
0.86	FFMMX	American Funds American	Pair Corr
0.86	FFFMX	American Funds American	Pair Corr
0.85	AMRMX	American Mutual	Pair Corr
0.86	AMFFX	American Mutual	Pair Corr
0.85	AMFCX	American Mutual	Pair Corr
0.83	DODGX	Dodge Stock Fund	Pair Corr
0.89	VIVAX	Vanguard Value Index	Pair Corr

Related Correlations Analysis

	ISD	PAHIX	CYBAX	NHCCX	MRHYX	SHYIX
ISD		0.39	0.36	0.27	0.32	0.48	ISD
PAHIX	0.39		0.91	0.77	0.74	0.69	PAHIX
CYBAX	0.36	0.91		0.8	0.84	0.84	CYBAX
NHCCX	0.27	0.77	0.8		0.63	0.74	NHCCX
MRHYX	0.32	0.74	0.84	0.63		0.74	MRHYX
SHYIX	0.48	0.69	0.84	0.74	0.74		SHYIX
	ISD	PAHIX	CYBAX	NHCCX	MRHYX	SHYIX

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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
ISD	0.62	0.00	(0.01)	0.05	0.83	(0.58)	1.08	(1.30)	3.04
PAHIX	0.11	(0.02)	0.00	(3.83)	0.00	0.00	0.17	(0.17)	1.19
CYBAX	0.10	(0.02)	0.00	(6.78)	0.00	0.00	0.20	(0.24)	0.81
NHCCX	0.26	(0.03)	0.00	(3.20)	0.00	0.00	0.60	(0.66)	2.24
MRHYX	0.11	(0.01)	(0.09)	(0.17)	0.14	(0.14)	0.23	(0.24)	0.82
SHYIX	0.10	(0.01)	0.00	(2.00)	0.00	0.00	0.25	(0.25)	1.23

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Knights Of Correlations

Knights Of Correlation With Market

Significant diversification

Moving together with Knights Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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