Knights Of Correlations

KCSSX Fund

USD 15.36 0.05 0.32%

The current 90-days correlation between Knights Of Umbus and Scharf Global Opportunity is 0.76 (i.e., Poor 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

Very poor diversification

The correlation between Knights Of Umbus and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knights Of Umbus 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 Umbus. 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 state.

Moving together with Knights Mutual Fund

0.91	KCEIX	Knights Of Columbus	Pair Corr
0.9	KCGSX	Knights Of Umbus	Pair Corr
0.9	KCGIX	Kngt Clb Larg	Pair Corr
1.0	KCSIX	Kngt Clb Sml	Pair Corr
0.95	KCVSX	Knights Of Umbus	Pair Corr
0.95	KCVIX	Kngt Clb Larg	Pair Corr
0.93	KCXIX	Knights Of Columbus	Pair Corr
0.98	VSMAX	Vanguard Small Cap	Pair Corr
0.98	VSCIX	Vanguard Small Cap	Pair Corr
0.98	VSCPX	Vanguard Small Cap	Pair Corr
0.98	NAESX	Vanguard Small Cap	Pair Corr
0.99	FSSNX	Fidelity Small Cap	Pair Corr
0.99	DFSTX	Us Small Cap	Pair Corr
0.99	PASVX	T Rowe Price	Pair Corr
0.99	PRVIX	T Rowe Price	Pair Corr
0.99	TRZVX	T Rowe Price	Pair Corr
0.99	PRSVX	T Rowe Price	Pair Corr
0.89	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.89	LSHEX	Kinetics Spin Off	Pair Corr
0.89	LSHCX	Horizon Spin Off	Pair Corr
0.89	WWNPX	Kinetics Paradigm	Pair Corr
0.89	KNPCX	Kinetics Paradigm	Pair Corr
0.88	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.88	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.89	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.88	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.89	KNPYX	Kinetics Paradigm	Pair Corr
0.99	RYMDX	Mid Cap 15x Steady Growth	Pair Corr
0.92	SWPPX	Schwab Sp 500	Pair Corr
0.92	ILESX	Fisher Investments	Pair Corr
0.91	ARIDX	Amg River Road	Pair Corr
0.94	DFMGX	Df Dent Midcap	Pair Corr

Moving against Knights Mutual Fund

0.61	KCCIX	Knights Of Columbus	Pair Corr
0.61	KCCSX	Knights Of Umbus	Pair Corr

Related Correlations Analysis

	WRLDX	FSBCX	CNGLX	RGPAX	MFIRX	USGLX	MGKAX
WRLDX		0.87	0.7	0.84	0.35	0.78	0.86	WRLDX
FSBCX	0.87		0.76	0.86	0.49	0.75	0.7	FSBCX
CNGLX	0.7	0.76		0.49	0.19	0.43	0.77	CNGLX
RGPAX	0.84	0.86	0.49		0.31	0.92	0.64	RGPAX
MFIRX	0.35	0.49	0.19	0.31		0.18	0.19	MFIRX
USGLX	0.78	0.75	0.43	0.92	0.18		0.62	USGLX
MGKAX	0.86	0.7	0.77	0.64	0.19	0.62		MGKAX
	WRLDX	FSBCX	CNGLX	RGPAX	MFIRX	USGLX	MGKAX

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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
WRLDX	0.49	(0.02)	(0.12)	0.08	0.45	(0.56)	0.92	(0.97)	2.75
FSBCX	0.36	(0.04)	(0.19)	0.04	0.46	(0.37)	0.75	(0.85)	2.09
CNGLX	0.54	(0.10)	(0.15)	(0.01)	0.77	(0.52)	1.04	(1.18)	3.68
RGPAX	0.57	(0.01)	(0.07)	0.10	0.58	(0.70)	1.32	(1.36)	3.24
MFIRX	0.09	0.01	(0.46)	(0.83)	0.00	(0.23)	0.19	(0.19)	0.76
USGLX	0.59	(0.02)	(0.05)	0.09	0.75	(0.59)	1.25	(1.29)	4.33
MGKAX	0.73	(0.06)	(0.10)	0.02	0.90	(0.69)	1.39	(1.20)	3.63

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