K2 Alternative Correlations

FSKKX Fund

USD 12.07 0.04 0.33%

The current 90-days correlation between K2 Alternative Strategies and Gabelli Global Financial is 0.57 (i.e., Very weak diversification). The correlation of K2 Alternative 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.

K2 Alternative Correlation With Market

Significant diversification

The correlation between K2 Alternative Strategies and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding K2 Alternative Strategies and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in K2 Alternative Strategies. 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 industry.

Moving together with FSKKX Mutual Fund

0.67	TEDMX	Templeton Developing	Pair Corr
0.78	TEMWX	Templeton World	Pair Corr
0.79	TEMTX	Franklin Mutual Shares	Pair Corr
0.87	SAIFX	Clearbridge Large Cap	Pair Corr
0.9	SAGYX	Clearbridge Aggressive	Pair Corr
0.79	TWDAX	Templeton World	Pair Corr
0.82	TESIX	Franklin Mutual Shares	Pair Corr
0.82	TESRX	Franklin Mutual Shares	Pair Corr
0.77	TEWTX	Templeton World	Pair Corr
0.89	SAPYX	Clearbridge Appreciation	Pair Corr
0.8	SASMX	Clearbridge Small Cap	Pair Corr
0.94	WAADX	Western Asset Smash	Pair Corr

Moving against FSKKX Mutual Fund

0.65	TEGBX	Templeton Global Bond	Pair Corr
0.48	LGIEX	Qs International Equity	Pair Corr
0.38	TEURX	Franklin Mutual European	Pair Corr
0.36	TEMIX	Franklin Mutual European	Pair Corr
0.32	LGGAX	Clearbridge International	Pair Corr
0.71	WAPAX	Western Asset E	Pair Corr
0.7	WACPX	Western Asset E	Pair Corr
0.64	WABAX	Western Asset E	Pair Corr
0.52	WAFAX	Western Asset Inflation	Pair Corr
0.43	WAIIX	Western Asset Inflation	Pair Corr
0.32	TFESX	International Equity	Pair Corr
0.31	TFEQX	International Equity	Pair Corr

Related Correlations Analysis

	GCFSX	FNPIX	ICFAX	BTO	MCBXX	MSVIX
GCFSX		0.95	0.92	0.92	0.41	0.78	GCFSX
FNPIX	0.95		0.9	0.95	0.4	0.65	FNPIX
ICFAX	0.92	0.9		0.83	0.37	0.71	ICFAX
BTO	0.92	0.95	0.83		0.32	0.75	BTO
MCBXX	0.41	0.4	0.37	0.32		0.12	MCBXX
MSVIX	0.78	0.65	0.71	0.75	0.12		MSVIX
	GCFSX	FNPIX	ICFAX	BTO	MCBXX	MSVIX

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Risk-Adjusted Indicators

There is a big difference between FSKKX Mutual Fund performing well and K2 Alternative 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 K2 Alternative'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
GCFSX	0.71	0.15	0.08	(1.58)	0.51	(0.95)	1.52	(1.41)	4.94
FNPIX	1.06	0.28	0.15	(1.21)	0.90	(1.14)	2.09	(1.83)	11.72
ICFAX	0.70	0.09	(0.01)	(0.74)	0.79	(0.86)	1.25	(1.21)	4.73
BTO	0.95	0.16	0.19	0.19	0.72	(1.08)	2.02	(1.32)	9.88
MCBXX	0.03	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	1.01
MSVIX	0.79	(0.06)	(0.03)	0.04	0.90	(0.91)	2.14	(1.41)	5.71

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