Kinetics Paradigm Correlations

Mutual Funds . USA . 
Fund . Kinetics Paradigm Fund
WWNPX Fund  USD 155.33  1.12  0.73%   
The current 90-days correlation between Kinetics Paradigm and Kinetics Small Cap is 1.0 (i.e., No risk reduction). The correlation of Kinetics Paradigm 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 Paradigm Correlation With Market

Very weak diversification

The correlation between Kinetics Paradigm Fund and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Paradigm Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Kinetics Paradigm 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 american community survey.

Moving together with Kinetics Mutual Fund

  0.69KGLCX Kinetics GlobalPairCorr
  0.85KGLAX Kinetics GlobalPairCorr
  0.86WWWEX Kinetics GlobalPairCorr
  0.99KMKCX Kinetics Market OppoPairCorr
  0.99KMKAX Kinetics Market OppoPairCorr
  0.99KMKNX Kinetics Market OppoPairCorr
  0.99KMKYX Kinetics Market OppoPairCorr
  1.0KNPAX Kinetics ParadigmPairCorr
  1.0KNPCX Kinetics ParadigmPairCorr
  1.0KNPYX Kinetics ParadigmPairCorr
  0.99LSHEX Kinetics Spin OffPairCorr
  0.83LSHUX Horizon Spin OffPairCorr
  0.99LSHCX Horizon Spin OffPairCorr
  0.83LSHAX Horizon Spin OffPairCorr
  1.0KSCYX Kinetics Small CapPairCorr
  1.0KSCOX Kinetics Small CapPairCorr
  1.0KSOAX Kinetics Small CapPairCorr
  1.0KSOCX Kinetics Small CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Paradigm 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 Paradigm'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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