Kinetics Internet Correlations

WWWFX Fund

USD 103.71 3.03 2.84%

The current 90-days correlation between Kinetics Internet and Northern Large Cap is 0.53 (i.e., Very weak diversification). The correlation of Kinetics Internet 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 Internet Correlation With Market

Very weak diversification

The correlation between Kinetics Internet Fund and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Internet 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 Internet 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 price.

Moving together with Kinetics Mutual Fund

0.74	KGLCX	Kinetics Global	Pair Corr
0.73	KGLAX	Kinetics Global	Pair Corr
0.91	WWWEX	Kinetics Global	Pair Corr
1.0	KINCX	Kinetics Internet	Pair Corr
0.83	KINAX	Kinetics Internet	Pair Corr

Moving against Kinetics Mutual Fund

0.55

FAIRX

The Fairholme

Pair Corr

Related Correlations Analysis

	NOLCX	GSXIX	LSSCX	ASG	VIESX	EDD	MSGGX
NOLCX		0.01	-0.33	0.24	-0.32	0.56	0.48	NOLCX
GSXIX	0.01		0.81	0.73	0.46	0.18	0.69	GSXIX
LSSCX	-0.33	0.81		0.6	0.65	-0.03	0.47	LSSCX
ASG	0.24	0.73	0.6		0.5	0.38	0.81	ASG
VIESX	-0.32	0.46	0.65	0.5		0.29	0.21	VIESX
EDD	0.56	0.18	-0.03	0.38	0.29		0.48	EDD
MSGGX	0.48	0.69	0.47	0.81	0.21	0.48		MSGGX
	NOLCX	GSXIX	LSSCX	ASG	VIESX	EDD	MSGGX

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

LSSCX	+ 0.81	GSXIX
MSGGX	+ 0.81	ASG
ASG	+ 0.73	GSXIX
MSGGX	+ 0.69	GSXIX
VIESX	+ 0.65	LSSCX
ASG	+ 0.6	LSSCX

High negative correlations

LSSCX	- 0.33	NOLCX
VIESX	- 0.32	NOLCX
EDD	- 0.03	LSSCX

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Internet 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 Internet'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
NOLCX	0.50	0.00	(0.01)	0.08	0.69	(0.53)	1.28	(0.98)	4.26
GSXIX	0.80	(0.12)	0.00	(0.02)	0.00	0.00	1.65	(1.55)	5.61
LSSCX	0.72	(0.14)	0.00	(0.05)	0.00	0.00	1.45	(1.43)	6.25
ASG	0.71	(0.09)	0.00	(0.02)	0.00	0.00	1.45	(1.62)	4.39
VIESX	0.44	(0.08)	0.00	(0.10)	0.00	0.00	0.89	(1.10)	3.05
EDD	0.67	0.01	(0.05)	0.11	0.60	(1.01)	2.03	(1.28)	3.95
MSGGX	0.86	(0.12)	0.00	(0.01)	0.00	0.00	1.85	(1.74)	6.16

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