Kinetics Small Correlations

KSCOX Fund  USD 167.29  0.23  0.14%   
The current 90-days correlation between Kinetics Small Cap and Kinetics Paradigm Fund is 0.99 (i.e., No risk reduction). 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

Weak diversification

The correlation between Kinetics Small Cap and DJI is 0.39 (i.e., Weak 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 persons.

Moving together with Kinetics Mutual Fund

  1.0WWNPX Kinetics ParadigmPairCorr
  0.98KMKCX Kinetics Market OppoPairCorr
  0.98KMKAX Kinetics Market OppoPairCorr
  0.98KMKNX Kinetics Market OppoPairCorr
  0.98KMKYX Kinetics Market OppoPairCorr
  1.0KNPAX Kinetics ParadigmPairCorr
  1.0KNPCX Kinetics ParadigmPairCorr
  1.0KNPYX Kinetics ParadigmPairCorr
  0.98LSHEX Kinetics Spin OffPairCorr
  0.98LSHUX Horizon Spin OffPairCorr
  0.98LSHCX Horizon Spin OffPairCorr
  0.98LSHAX Horizon Spin OffPairCorr
  1.0KSCYX Kinetics Small CapPairCorr
  1.0KSOAX Kinetics Small CapPairCorr
  1.0KSOCX Kinetics Small CapPairCorr

Moving against Kinetics Mutual Fund

  0.72KMDNX Kinetics Multi-disciplinaPairCorr
  0.49VSGAX Vanguard Small CapPairCorr
  0.66SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.66SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.64FIKGX Fidelity Advisor SemPairCorr
  0.64ONERX One Rock Fund Steady GrowthPairCorr
  0.64FELIX Fidelity Advisor SemPairCorr
  0.64FELAX Fidelity Advisor SemPairCorr
  0.64AMHYX Invesco High YieldPairCorr
  0.63FELCX Fidelity Advisor SemPairCorr
  0.63FSELX Fidelity Select SemiPairCorr
  0.6TTEEX T Rowe PricePairCorr
  0.6TREMX T Rowe PricePairCorr
  0.56AAAGX Thrivent Large CapPairCorr
  0.53JGMIX Janus TritonPairCorr
  0.53JGMRX Janus TritonPairCorr
  0.53JGMAX Janus TritonPairCorr
  0.53JGMCX Janus TritonPairCorr
  0.53JGMNX Janus TritonPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
KMKNXWWNPX
RYVPXQFVOX
MGFIXQFVOX
RYVPXMGFIX
  
High negative correlations   
MGFIXWWNPX
QFVOXWWNPX
MGFIXKMKNX
RYVPXWWNPX
QFVOXKMKNX
RYVPXKMKNX

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.