Kinetics Multi-disciplina Correlations

KMDNX Fund

USD 9.94 0.16 1.58%

The current 90-days correlation between Kinetics Multi-disciplina and Kinetics Market Opportunities is 0.1 (i.e., Average diversification). The correlation of Kinetics Multi-disciplina 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 Multi-disciplina Correlation With Market

Average diversification

The correlation between Kinetics Multi Disciplinary In and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Multi Disciplinary In 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 Multi Disciplinary Income. 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 board of governors.

Moving together with Kinetics Mutual Fund

0.68	UGPIX	Ultrachina Profund	Pair Corr
0.61	UGPSX	Ultrachina Profund	Pair Corr
0.72	EMSLX	Shelton Emerging Markets	Pair Corr

Moving against Kinetics Mutual Fund

0.34

KINCX

Kinetics Internet

Pair Corr

Related Correlations Analysis

	KMKNX	KSCOX	WWWEX	WWNPX	DLENX
KMKNX		0.74	0.7	0.99	0.17	KMKNX
KSCOX	0.74		0.82	0.74	0.01	KSCOX
WWWEX	0.7	0.82		0.64	-0.34	WWWEX
WWNPX	0.99	0.74	0.64		0.23	WWNPX
DLENX	0.17	0.01	-0.34	0.23		DLENX
	KMKNX	KSCOX	WWWEX	WWNPX	DLENX

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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

WWNPX	+ 0.99	KMKNX
WWWEX	+ 0.82	KSCOX
KSCOX	+ 0.74	KMKNX
WWNPX	+ 0.74	KSCOX
WWWEX	+ 0.7	KMKNX
WWNPX	+ 0.64	WWWEX

High negative correlations

DLENX

- 0.34

WWWEX

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Multi-disciplina 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 Multi-disciplina'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
KMKNX	1.46	0.21	0.10	0.15	2.08	(1.47)	3.20	(3.35)	10.14
KSCOX	1.57	0.21	0.08	0.13	2.27	(1.52)	3.83	(4.31)	9.10
WWWEX	0.96	0.03	0.06	(0.23)	1.30	(0.98)	2.03	(2.07)	5.71
WWNPX	1.88	0.27	0.08	0.14	2.69	(1.79)	4.22	(5.17)	11.55
DLENX	0.11	0.04	0.71	0.92	0.00	(0.17)	0.23	(0.11)	0.67

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