Kinetics Paradigm Correlations

KNPCX Fund

USD 109.72 0.01 0.01%

The current 90-days correlation between Kinetics Paradigm and Kinetics Global Fund is 0.83 (i.e., Very poor diversification). 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

Weak diversification

The correlation between Kinetics Paradigm Fund and DJI is 0.36 (i.e., 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 Correlation Analysis 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 main economic indicators.

Moving together with Kinetics Mutual Fund

0.94	WWNPX	Kinetics Paradigm	Pair Corr
0.93	KMKCX	Kinetics Market Oppo	Pair Corr
0.91	KMKAX	Kinetics Market Oppo	Pair Corr
0.92	KMKNX	Kinetics Market Oppo	Pair Corr
0.92	KMKYX	Kinetics Market Oppo	Pair Corr
1.0	KNPAX	Kinetics Paradigm	Pair Corr
1.0	KNPYX	Kinetics Paradigm	Pair Corr
0.97	LSHEX	Kinetics Spin Off	Pair Corr
0.99	LSHUX	Horizon Spin Off	Pair Corr
0.99	LSHCX	Horizon Spin Off	Pair Corr
0.99	LSHAX	Horizon Spin Off	Pair Corr
1.0	KSCYX	Kinetics Small Cap	Pair Corr
0.93	KSCOX	Kinetics Small Cap	Pair Corr
1.0	KSOAX	Kinetics Small Cap	Pair Corr
0.96	KSOCX	Kinetics Small Cap	Pair Corr

Moving against Kinetics Mutual Fund

0.76	KMDNX	Kinetics Multi-disciplina	Pair Corr
0.77	LIIAX	Columbia Porate Income	Pair Corr
0.77	SRINX	Columbia Porate Income	Pair Corr
0.66	IHIFX	Ivy High Income	Pair Corr
0.65	IVHIX	Ivy High Income	Pair Corr
0.64	WHIAX	Ivy High Income	Pair Corr
0.64	FRCYX	Fidelity Sustainable	Pair Corr
0.63	MURMX	Mutual Of America	Pair Corr
0.62	WRHIX	Ivy High Income	Pair Corr
0.6	VFINX	Vanguard 500 Index	Pair Corr
0.59	TRQZX	T Rowe Price	Pair Corr
0.59	LRAGX	Lord Abbett International	Pair Corr
0.59	FCITX	Franklin Federal Int	Pair Corr
0.58	RRMGX	T Rowe Price	Pair Corr
0.57	RPMGX	T Rowe Price	Pair Corr
0.56	PAMCX	T Rowe Price	Pair Corr
0.51	TRUZX	T Rowe Price	Pair Corr
0.49	PRJIX	T Rowe Price	Pair Corr
0.49	PRNHX	T Rowe Price	Pair Corr

Related Correlations Analysis

	KGLCX	KGLAX	WWNPX	WWWFX	WWWEX	KINCX	KMDNX	KMKCX	KMKAX	KMKNX
KGLCX		0.55	0.28	0.96	0.78	0.61	0.17	0.3	0.39	0.31	KGLCX
KGLAX	0.55		0.31	0.48	0.59	0.93	0.52	0.29	0.44	0.3	KGLAX
WWNPX	0.28	0.31		0.12	0.31	0.29	-0.58	0.96	0.93	0.96	WWNPX
WWWFX	0.96	0.48	0.12		0.73	0.58	0.23	0.17	0.24	0.18	WWWFX
WWWEX	0.78	0.59	0.31	0.73		0.64	0.24	0.4	0.36	0.41	WWWEX
KINCX	0.61	0.93	0.29	0.58	0.64		0.53	0.29	0.35	0.3	KINCX
KMDNX	0.17	0.52	-0.58	0.23	0.24	0.53		-0.57	-0.52	-0.56	KMDNX
KMKCX	0.3	0.29	0.96	0.17	0.4	0.29	-0.57		0.91	1.0	KMKCX
KMKAX	0.39	0.44	0.93	0.24	0.36	0.35	-0.52	0.91		0.91	KMKAX
KMKNX	0.31	0.3	0.96	0.18	0.41	0.3	-0.56	1.0	0.91		KMKNX
	KGLCX	KGLAX	WWNPX	WWWFX	WWWEX	KINCX	KMDNX	KMKCX	KMKAX	KMKNX

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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

KMKNX	+ 1.0	KMKCX
WWWFX	+ 0.96	KGLCX
KMKCX	+ 0.96	WWNPX
KMKNX	+ 0.96	WWNPX
KINCX	+ 0.93	KGLAX
KMKAX	+ 0.93	WWNPX

High negative correlations

KMDNX	- 0.58	WWNPX
KMKCX	- 0.57	KMDNX
KMKNX	- 0.56	KMDNX
KMKAX	- 0.52	KMDNX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
KGLCX	0.56	0.06	(0.04)	0.35	0.59	(0.60)	1.16	(1.07)	4.03
KGLAX	0.56	0.12	(0.01)	3.15	0.52	(0.60)	1.19	(1.04)	4.01
WWNPX	1.24	(0.22)	0.00	(0.27)	0.00	0.00	2.58	(2.98)	9.15
WWWFX	1.07	0.22	0.06	(2.69)	1.08	(1.20)	2.34	(2.15)	6.81
WWWEX	0.56	0.10	(0.04)	(3.35)	0.58	(0.61)	1.24	(1.09)	3.98
KINCX	1.05	0.16	0.07	0.53	1.08	(1.15)	2.34	(2.14)	6.81
KMDNX	0.04	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.20
KMKCX	0.78	(0.03)	0.00	0.61	0.00	0.00	1.42	(2.02)	6.00
KMKAX	0.80	(0.02)	0.00	(0.18)	0.00	0.00	1.42	(2.01)	5.99
KMKNX	0.78	(0.02)	0.00	0.56	0.00	0.00	1.43	(2.02)	5.99

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