Knights Of Correlations

KCCIX Fund

USD 8.79 0.02 0.23%

The current 90-days correlation between Knights Of Columbus and Maryland Tax Free Bond is 0.55 (i.e., Very weak diversification). The correlation of Knights Of 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.

Knights Of Correlation With Market

Good diversification

The correlation between Knights Of Columbus and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knights Of Columbus 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 Knights Of Columbus. 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 gross domestic product.

Moving together with Knights Mutual Fund

1.0	KCCSX	Knights Of Umbus	Pair Corr
1.0	VBTLX	Vanguard Total Bond	Pair Corr
1.0	VBMFX	Vanguard Total Bond	Pair Corr
1.0	VBTIX	Vanguard Total Bond	Pair Corr
1.0	VTBSX	Vanguard Total Bond	Pair Corr
0.99	VTBIX	Vanguard Total Bond	Pair Corr
0.99	VTBNX	Vanguard Total Bond	Pair Corr
0.99	BFAFX	Bond Fund	Pair Corr
0.99	ABNDX	Bond Fund	Pair Corr
0.99	BFACX	Bond Fund	Pair Corr
0.99	FFBOX	American Funds	Pair Corr

Moving against Knights Mutual Fund

0.84	LETRX	Voya Russia Fund	Pair Corr
0.81	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.8	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.79	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.77	KCXIX	Knights Of Columbus	Pair Corr
0.74	KCGSX	Knights Of Umbus	Pair Corr
0.72	KCVSX	Knights Of Umbus	Pair Corr
0.62	KCSIX	Kngt Clb Sml	Pair Corr
0.81	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.81	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.8	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.8	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.8	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.79	MLMAX	Global E Portfolio	Pair Corr
0.77	KINCX	Kinetics Internet	Pair Corr
0.77	AMEIX	Equity Growth	Pair Corr
0.76	TLCYX	Touchstone Large Cap	Pair Corr
0.74	VFIAX	Vanguard 500 Index	Pair Corr
0.74	VFINX	Vanguard 500 Index	Pair Corr
0.71	SAGAX	Ridgeworth Innovative	Pair Corr
0.69	AMGIX	Income Growth	Pair Corr
0.67	DFMAX	Davidson Multi Cap	Pair Corr
0.64	WWLAX	Westwood Largecap Value	Pair Corr
0.63	VWELX	Vanguard Wellington	Pair Corr
0.54	GAPIX	Goldman Sachs Equity	Pair Corr
0.44	GAB	Gabelli Equity Trust	Pair Corr
0.34	PGAIX	Pimco Global Multi	Pair Corr

Related Correlations Analysis

	TFBIX	TPYYX	ABNTX	PBXIX	CCD	FZNQEX	TTRBX
TFBIX		0.42	0.64	0.0	0.27	0.53	0.7	TFBIX
TPYYX	0.42		0.6	0.12	0.57	0.43	0.37	TPYYX
ABNTX	0.64	0.6		-0.33	0.41	0.94	0.89	ABNTX
PBXIX	0.0	0.12	-0.33		0.41	-0.48	-0.52	PBXIX
CCD	0.27	0.57	0.41	0.41		0.27	0.11	CCD
FZNQEX	0.53	0.43	0.94	-0.48	0.27		0.91	FZNQEX
TTRBX	0.7	0.37	0.89	-0.52	0.11	0.91		TTRBX
	TFBIX	TPYYX	ABNTX	PBXIX	CCD	FZNQEX	TTRBX

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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

FZNQEX	+ 0.94	ABNTX
TTRBX	+ 0.91	FZNQEX
TTRBX	+ 0.89	ABNTX
TTRBX	+ 0.7	TFBIX
ABNTX	+ 0.64	TFBIX
ABNTX	+ 0.6	TPYYX

High negative correlations

TTRBX	- 0.52	PBXIX
FZNQEX	- 0.48	PBXIX
PBXIX	- 0.33	ABNTX
PBXIX	- 0.0	TFBIX

Risk-Adjusted Indicators

There is a big difference between Knights Mutual Fund performing well and Knights Of 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 Knights Of'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
TFBIX	0.16	0.02	(0.26)	(0.11)	0.19	(0.23)	0.40	(0.39)	1.58
TPYYX	0.70	(0.10)	0.00	(0.02)	0.00	0.00	1.40	(1.71)	5.39
ABNTX	0.14	(0.01)	(0.49)	(0.75)	0.19	(0.17)	0.29	(0.30)	0.88
PBXIX	0.31	0.04	(0.07)	0.21	0.00	(0.41)	0.87	(0.55)	1.94
CCD	0.75	(0.01)	(0.08)	0.08	0.90	(0.82)	1.88	(1.68)	4.88
FZNQEX	0.11	(0.01)	0.00	0.41	0.00	0.00	0.29	(0.17)	0.93
TTRBX	0.13	0.00	(0.59)	0.28	0.16	(0.17)	0.30	(0.30)	0.70

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