Knights Of Correlations

Mutual Funds . USA . 
Fund . Knights Of Columbus
KCCIX Fund  USD 8.60  0.02  0.23%   
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

Average diversification

The correlation between Knights Of Columbus and DJI is 0.1 (i.e., Average 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

  0.75KCCSX Knights Of UmbusPairCorr
  0.63KCIIX Kngt Clb EqyPairCorr
  0.66KCRIX Knights Of ColumbusPairCorr
  0.72KCSIX Kngt Clb SmlPairCorr
  0.72KCSSX Knights Of UmbusPairCorr
  0.73KCVSX Knights Of UmbusPairCorr
  0.73KCVIX Kngt Clb LargPairCorr
  0.64KCXIX Knights Of ColumbusPairCorr
  0.74VBTLX Vanguard Total BondPairCorr
  0.74VBMFX Vanguard Total BondPairCorr
  0.74VBTIX Vanguard Total BondPairCorr
  0.98VTBSX Vanguard Total BondPairCorr
  0.98VTBIX Vanguard Total BondPairCorr
  0.98VTBNX Vanguard Total BondPairCorr
  0.97BFAFX Bond FundPairCorr
  0.97ABNDX Bond FundPairCorr
  0.97BFACX Bond FundPairCorr
  0.98FFBOX American FundsPairCorr
  0.99GPBFX Gmo E PlusPairCorr
  0.88WARCX Wells Fargo AdvantagePairCorr

Moving against Knights Mutual Fund

  0.41PQTAX Pimco Trends ManagedPairCorr
  0.41PQTNX Pimco Trends ManagedPairCorr
  0.4PQTIX Aa Pimco TrPairCorr
  0.32GPMFX Guidepath Managed FuturesPairCorr
  0.31QMNRX Aqr Equity MarketPairCorr

Related Correlations Analysis

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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   
RFBAX
+ 0.36
RYAQX
ICAXX
+ 0.0
LCCXX
RYAQX
+ 0.0
LCCXX
RFBAX
+ 0.0
LCCXX
ELMXX
+ 0.0
LCCXX
RYAQX
+ 0.0
ICAXX
  
High negative correlations   
ELMXX
- 0.0
RFBAX
ELMXX
- 0.0
RYAQX
ELMXX
- 0.0
ICAXX
RFBAX
- 0.0
ICAXX
RYAQX
- 0.0
ICAXX
ELMXX
- 0.0
LCCXX

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.

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