Kinetics Global Correlations

KGLCX Fund

USD 15.00 0.25 1.64%

The current 90-days correlation between Kinetics Global and Hartford Healthcare Hls is 0.41 (i.e., Very weak diversification). The correlation of Kinetics Global 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.

Kinetics Global Correlation With Market

Weak diversification

The correlation between Kinetics Global Fund and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Global Fund 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 Kinetics Global Fund. 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 main economic indicators.

Moving together with Kinetics Mutual Fund

1.0	KGLAX	Kinetics Global	Pair Corr
0.84	WWNPX	Kinetics Paradigm Downward Rally	Pair Corr
0.8	WWWFX	Kinetics Internet	Pair Corr
1.0	WWWEX	Kinetics Global	Pair Corr
0.79	KINCX	Kinetics Internet	Pair Corr
0.88	KMKCX	Kinetics Market Oppo	Pair Corr
0.88	KMKAX	Kinetics Market Oppo	Pair Corr
0.88	KMKNX	Kinetics Market Oppo	Pair Corr
0.88	KMKYX	Kinetics Market Oppo	Pair Corr
0.85	KNPAX	Kinetics Paradigm	Pair Corr
0.85	KNPCX	Kinetics Paradigm	Pair Corr
0.84	KNPYX	Kinetics Paradigm	Pair Corr
0.76	LSHEX	Kinetics Spin Off	Pair Corr
0.76	LSHUX	Horizon Spin Off Downward Rally	Pair Corr
0.76	LSHCX	Horizon Spin Off	Pair Corr
0.76	LSHAX	Horizon Spin Off Downward Rally	Pair Corr
0.83	KSCYX	Kinetics Small Cap	Pair Corr
0.83	KSCOX	Kinetics Small Cap	Pair Corr
0.83	KSOAX	Kinetics Small Cap	Pair Corr
0.84	KSOCX	Kinetics Small Cap	Pair Corr
0.73	FBONX	American Funds American	Pair Corr
0.73	FBAFX	American Funds American	Pair Corr
0.73	ABALX	American Balanced	Pair Corr
0.72	BALCX	American Balanced	Pair Corr
0.79	BALFX	American Balanced	Pair Corr
0.73	RLBCX	American Balanced	Pair Corr
0.72	RLBBX	American Balanced	Pair Corr
0.73	CLBAX	American Balanced	Pair Corr
0.73	CLBEX	American Balanced	Pair Corr
0.73	RLBFX	American Balanced	Pair Corr
0.74	CII	Blackrock Enhanced	Pair Corr
0.62	ETV	Eaton Vance Tax	Pair Corr
0.68	CLM	Cornerstone Strategic	Pair Corr
0.75	USA	Liberty All Star	Pair Corr

Related Correlations Analysis

	HIAHX	HGHYX	PGHAX	DLRHX	BGHDX	SUHIX	VGHCX
HIAHX		1.0	0.59	0.75	-0.02	0.85	0.39	HIAHX
HGHYX	1.0		0.59	0.75	-0.02	0.85	0.39	HGHYX
PGHAX	0.59	0.59		0.84	0.11	0.84	0.56	PGHAX
DLRHX	0.75	0.75	0.84		-0.11	0.93	0.24	DLRHX
BGHDX	-0.02	-0.02	0.11	-0.11		-0.11	0.5	BGHDX
SUHIX	0.85	0.85	0.84	0.93	-0.11		0.29	SUHIX
VGHCX	0.39	0.39	0.56	0.24	0.5	0.29		VGHCX
	HIAHX	HGHYX	PGHAX	DLRHX	BGHDX	SUHIX	VGHCX

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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

HGHYX	+ 1.0	HIAHX
SUHIX	+ 0.93	DLRHX
SUHIX	+ 0.85	HIAHX
SUHIX	+ 0.85	HGHYX
DLRHX	+ 0.84	PGHAX
SUHIX	+ 0.84	PGHAX

High negative correlations

SUHIX	- 0.11	BGHDX
BGHDX	- 0.11	DLRHX
BGHDX	- 0.02	HGHYX
BGHDX	- 0.02	HIAHX

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Global 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 Kinetics Global'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
HIAHX	0.68	0.03	0.00	(0.03)	0.00	0.00	1.39	(1.22)	4.43
HGHYX	0.69	0.02	0.00	(0.03)	0.00	0.00	1.41	(1.25)	4.37
PGHAX	0.65	0.02	0.00	(0.03)	0.00	0.00	1.33	(1.10)	4.12
DLRHX	0.63	0.06	0.12	0.06	0.75	(0.76)	1.30	(1.24)	3.41
BGHDX	0.02	(0.02)	0.00	(1.44)	0.00	0.00	0.00	0.00	0.35
SUHIX	0.64	0.06	0.12	0.05	0.70	(0.72)	1.29	(1.17)	3.73
VGHCX	0.77	(0.10)	0.00	(0.26)	0.00	0.00	1.49	(1.50)	8.17

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