Kinetics Paradigm Correlations

Mutual Funds . USA . 
Fund . Kinetics Paradigm Fund
WWNPX Fund  USD 160.27  3.82  2.44%   
The current 90-days correlation between Kinetics Paradigm and Kinetics Global Fund is 0.8 (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

Very weak diversification

The correlation between Kinetics Paradigm Fund and DJI is 0.51 (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

  0.99KGLCX Kinetics GlobalPairCorr
  0.99KGLAX Kinetics GlobalPairCorr
  0.99WWWFX Kinetics InternetPairCorr
  0.99WWWEX Kinetics GlobalPairCorr
  0.99KINCX Kinetics InternetPairCorr
  0.91KMDNX Kinetics Multi DisciPairCorr
  1.0KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KMKAX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KMKNX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KMKYX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KNPAX Kinetics Paradigm Steady GrowthPairCorr
  1.0KNPCX Kinetics Paradigm Steady GrowthPairCorr
  1.0KNPYX Kinetics Paradigm Steady GrowthPairCorr
  1.0LSHEX Kinetics Spin Off Steady GrowthPairCorr
  1.0LSHUX Horizon Spin Off Steady GrowthPairCorr
  1.0LSHCX Horizon Spin Off Steady GrowthPairCorr
  1.0LSHAX Horizon Spin Off Steady GrowthPairCorr
  1.0KSCYX Kinetics Small Cap Steady GrowthPairCorr
  1.0KSCOX Kinetics Small Cap Steady GrowthPairCorr
  1.0KSOAX Kinetics Small Cap Steady GrowthPairCorr
  1.0KSOCX Kinetics Small Cap Steady GrowthPairCorr
  0.78PAMCX T Rowe PricePairCorr
  0.78RRMGX T Rowe PricePairCorr
  0.79TRQZX T Rowe PricePairCorr
  0.78RPMGX T Rowe PricePairCorr
  0.91PRJIX T Rowe PricePairCorr
  0.91PRNHX T Rowe PricePairCorr
  0.91TRUZX T Rowe PricePairCorr
  0.84PCBIX Midcap Fund InstitutionalPairCorr
  0.84PEMGX Midcap Fund ClassPairCorr
  0.84PMBCX Midcap Fund ClassPairCorr
  0.77SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.65LETRX Voya Russia FundPairCorr
  0.67IIRFX Voya Russia FundPairCorr
  0.65IWRFX Voya Russia FundPairCorr
  0.73SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.84RFNGX American Funds FundaPairCorr
  0.7GCIEX Gabelli EquityPairCorr

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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