Special Opportunities Correlations

SPE Fund

USD 15.35 0.07 0.45%

The current 90-days correlation between Special Opportunities and Ares Dynamic Credit is 0.01 (i.e., Significant diversification). The correlation of Special Opportunities 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.

Special Opportunities Correlation With Market

Very weak diversification

The correlation between Special Opportunities Closed and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Special Opportunities Closed and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Special Opportunities Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Special Fund

0.96	KSCYX	Kinetics Small Cap	Pair Corr
0.72	LETRX	Voya Russia Fund	Pair Corr
0.95	KNPAX	Kinetics Paradigm	Pair Corr
0.96	KSCOX	Kinetics Small Cap	Pair Corr
0.96	KSOCX	Kinetics Small Cap	Pair Corr
0.95	WWNPX	Kinetics Paradigm	Pair Corr
0.95	KNPCX	Kinetics Paradigm	Pair Corr
0.94	KINCX	Kinetics Internet	Pair Corr
0.93	KINAX	Kinetics Internet	Pair Corr
0.95	LSHUX	Horizon Spin Off	Pair Corr
0.93	BDJ	Blackrock Enhanced Equity	Pair Corr
0.89	VFIAX	Vanguard 500 Index	Pair Corr
0.89	VFINX	Vanguard 500 Index	Pair Corr
0.81	CII	Blackrock Enhanced	Pair Corr
0.86	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.89	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.78	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.93	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.9	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.88	WMT	Walmart Aggressive Push	Pair Corr
0.86	DIS	Walt Disney Aggressive Push	Pair Corr
0.89	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.94	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Special Fund

0.62

Boeing Fiscal Year End 29th of January 2025

Pair Corr

Related Correlations Analysis

	ARDC	LGI	PGZ	EXD	TPZ
ARDC		-0.03	-0.02	0.16	0.49	ARDC
LGI	-0.03		0.59	0.44	-0.46	LGI
PGZ	-0.02	0.59		0.04	-0.55	PGZ
EXD	0.16	0.44	0.04		0.13	EXD
TPZ	0.49	-0.46	-0.55	0.13		TPZ
	ARDC	LGI	PGZ	EXD	TPZ

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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

PGZ	+ 0.59	LGI
TPZ	+ 0.49	ARDC
EXD	+ 0.44	LGI
EXD	+ 0.16	ARDC
TPZ	+ 0.13	EXD
EXD	+ 0.04	PGZ

High negative correlations

TPZ	- 0.55	PGZ
TPZ	- 0.46	LGI
LGI	- 0.03	ARDC
PGZ	- 0.02	ARDC

Risk-Adjusted Indicators

There is a big difference between Special Fund performing well and Special Opportunities 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 Special Opportunities' 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
ARDC	0.40	0.04	(0.12)	0.60	0.42	(0.45)	1.08	(0.87)	2.42
LGI	0.77	(0.03)	(0.11)	0.03	0.88	(0.84)	1.55	(1.25)	5.05
PGZ	0.48	0.01	(0.17)	0.86	0.59	(0.48)	0.94	(0.85)	2.85
EXD	0.80	0.05	(0.04)	0.31	0.84	(1.00)	1.79	(1.46)	4.60
TPZ	0.70	0.13	0.08	0.36	0.71	(0.82)	1.63	(1.49)	5.57

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