Kinetics Global Correlations

Mutual Funds . USA . 
Fund . Kinetics Global Fund
KGLCX Fund  USD 15.08  0.28  1.82%   
The current 90-days correlation between Kinetics Global and T Rowe Price is 0.03 (i.e., Significant 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

Good diversification

The correlation between Kinetics Global Fund and DJI is -0.13 (i.e., Good 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

  1.0KGLAX Kinetics GlobalPairCorr
  0.94WWNPX Kinetics ParadigmPairCorr
  0.86WWWFX Kinetics InternetPairCorr
  1.0WWWEX Kinetics GlobalPairCorr
  0.64KINCX Kinetics InternetPairCorr
  0.97KMKCX Kinetics Market OppoPairCorr
  0.97KMKAX Kinetics Market OppoPairCorr
  0.76KMKNX Kinetics Market OppoPairCorr
  0.76KMKYX Kinetics Market OppoPairCorr
  0.93KNPAX Kinetics ParadigmPairCorr
  0.71KNPCX Kinetics ParadigmPairCorr
  0.72KNPYX Kinetics ParadigmPairCorr
  0.91LSHEX Kinetics Spin OffPairCorr
  0.91LSHUX Horizon Spin OffPairCorr
  0.68LSHCX Horizon Spin OffPairCorr
  0.91LSHAX Horizon Spin OffPairCorr
  0.71KSCYX Kinetics Small CapPairCorr
  0.71KSCOX Kinetics Small CapPairCorr
  0.93KSOAX Kinetics Small CapPairCorr
  0.63FBONX American Funds AmericanPairCorr
  0.63ABALX American BalancedPairCorr
  0.62BALCX American BalancedPairCorr
  0.64BALFX American BalancedPairCorr
  0.62RLBBX American BalancedPairCorr
  0.62CLBAX American BalancedPairCorr
  0.63RLBFX American BalancedPairCorr
  0.69VTSAX Vanguard Total StockPairCorr
  0.65VFIAX Vanguard 500 IndexPairCorr
  0.7VTSMX Vanguard Total StockPairCorr
  0.64VSMPX Vanguard Total StockPairCorr
  0.7VSTSX Vanguard Total StockPairCorr
  0.7VITSX Vanguard Total StockPairCorr
  0.65VFINX Vanguard 500 IndexPairCorr
  0.63VFFSX Vanguard 500 IndexPairCorr

Related Correlations Analysis

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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   
TRSZX
+ 1.0
TRMNX
TRSZX
+ 0.69
TRMIX
TRMNX
+ 0.68
TRMIX
TRZZX
+ 0.56
TRMIX
TRSZX
+ 0.53
TRZZX
TRZZX
+ 0.52
TRMNX
  
High negative correlations   
RYAGX
- 0.57
TRMIX
TRSZX
- 0.42
RYAGX
RYAGX
- 0.42
TRMNX
TRZZX
- 0.14
RYAGX

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.

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