Kinetics Small Correlations

KSOCX Fund

USD 163.38 7.36 4.31%

The current 90-days correlation between Kinetics Small Cap and Upright Growth Income is -0.15 (i.e., Good diversification). The correlation of Kinetics Small 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 Small Correlation With Market

Good diversification

The correlation between Kinetics Small Cap and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Small Cap 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 Small Cap. 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

0.69	KGLCX	Kinetics Global	Pair Corr
0.84	KGLAX	Kinetics Global	Pair Corr
0.81	WWNPX	Kinetics Paradigm Downward Rally	Pair Corr
0.84	WWWEX	Kinetics Global	Pair Corr
0.81	KMKCX	Kinetics Market Oppo	Pair Corr
0.81	KMKAX	Kinetics Market Oppo	Pair Corr
0.96	KMKNX	Kinetics Market Oppo	Pair Corr
0.98	KMKYX	Kinetics Market Oppo	Pair Corr
0.81	KNPAX	Kinetics Paradigm Downward Rally	Pair Corr
0.99	KNPCX	Kinetics Paradigm Downward Rally	Pair Corr
0.81	KNPYX	Kinetics Paradigm Downward Rally	Pair Corr
0.98	LSHEX	Kinetics Spin Off Downward Rally	Pair Corr
0.79	LSHUX	Horizon Spin Off Downward Rally	Pair Corr
0.98	LSHCX	Horizon Spin Off Downward Rally	Pair Corr
0.79	LSHAX	Horizon Spin Off Downward Rally	Pair Corr
0.99	KSCYX	Kinetics Small Cap	Pair Corr
0.81	KSCOX	Kinetics Small Cap	Pair Corr
1.0	KSOAX	Kinetics Small Cap	Pair Corr

Moving against Kinetics Mutual Fund

0.34

IIF

Morgan Stanley India

Pair Corr

Related Correlations Analysis

	UPDDX	EIPFX	GGRYX	NSBCX	VDIGX	AUERX
UPDDX		0.37	0.68	0.83	0.45	0.8	UPDDX
EIPFX	0.37		0.69	0.37	0.35	0.33	EIPFX
GGRYX	0.68	0.69		0.71	0.78	0.43	GGRYX
NSBCX	0.83	0.37	0.71		0.68	0.74	NSBCX
VDIGX	0.45	0.35	0.78	0.68		0.16	VDIGX
AUERX	0.8	0.33	0.43	0.74	0.16		AUERX
	UPDDX	EIPFX	GGRYX	NSBCX	VDIGX	AUERX

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Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Small 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 Small'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
UPDDX	2.00	(0.01)	(0.07)	3.22	(5.01)	15.30
EIPFX	0.83	0.01	(0.04)	1.69	(1.72)	7.28
GGRYX	0.53	0.02	(0.04)	1.01	(1.15)	3.13
NSBCX	0.74	(0.11)	(0.21)	1.03	(1.54)	5.00
VDIGX	0.60	(0.01)	(0.09)	0.95	(1.44)	3.57
AUERX	0.84	(0.06)	(0.15)	1.57	(2.24)	4.19

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