Kinetics Multi-disciplina Correlations

KMDNX Fund

USD 10.02 0.01 0.1%

The current 90-days correlation between Kinetics Multi-disciplina and ProShares Ultra NVDA is -0.01 (i.e., Good diversification). The correlation of Kinetics Multi-disciplina 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 Multi-disciplina Correlation With Market

Very poor diversification

The correlation between Kinetics Multi Disciplinary In and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Multi Disciplinary In 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 Kinetics Multi Disciplinary Income. 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 employment.

Moving together with KINETICS Mutual Fund

0.65	LSHEX	Kinetics Spin Off	Pair Corr
0.66	LSHUX	Horizon Spin Off	Pair Corr
0.68	LSHCX	Horizon Spin Off	Pair Corr
0.63	LSHAX	Horizon Spin Off	Pair Corr
0.91	PONAX	Pimco Income	Pair Corr
0.9	PONCX	Pimco Income	Pair Corr
0.91	PIPNX	Pimco Income	Pair Corr
0.91	PONRX	Pimco Income	Pair Corr
0.91	PONPX	Pimco Incme Fund	Pair Corr
0.91	PIINX	Pimco Income	Pair Corr
0.91	PIMIX	Pimco Income	Pair Corr
0.86	LBNDX	Lord Abbett Bond	Pair Corr
0.79	FSTAX	Fidelity Advisor Str	Pair Corr
0.8	FSRIX	Fidelity Advisor Str	Pair Corr
0.64	RYMEX	Commodities Strategy	Pair Corr
0.65	RYMJX	Commodities Strategy	Pair Corr
0.67	RYMBX	Commodities Strategy	Pair Corr
0.95	BRUFX	Bruce Fund Bruce	Pair Corr
0.81	SPGSX	State Street Premier	Pair Corr
0.85	KF	Korea Closed	Pair Corr
0.85	JAAYX	Jpmorgan Smartretirement	Pair Corr
0.87	TAAKX	Transamerica Asset	Pair Corr

Moving against KINETICS Mutual Fund

0.49	WWWFX	Kinetics Internet	Pair Corr
0.33	KINCX	Kinetics Internet	Pair Corr

Related Correlations Analysis

	STARX	GTRFX	HEQCX	EQCHX	PLTA	HIIIX	DFII	RMNY	GOPIX	NVDB
STARX		0.82	0.92	0.85	-0.04	0.89	-0.12	0.49	0.71	-0.05	STARX
GTRFX	0.82		0.87	0.89	-0.3	0.83	-0.35	0.64	0.85	-0.23	GTRFX
HEQCX	0.92	0.87		0.88	-0.27	0.89	-0.3	0.54	0.81	-0.29	HEQCX
EQCHX	0.85	0.89	0.88		-0.21	0.75	-0.4	0.47	0.88	-0.28	EQCHX
PLTA	-0.04	-0.3	-0.27	-0.21		-0.12	0.64	-0.22	-0.39	0.62	PLTA
HIIIX	0.89	0.83	0.89	0.75	-0.12		-0.01	0.67	0.66	-0.03	HIIIX
DFII	-0.12	-0.35	-0.3	-0.4	0.64	-0.01		0.06	-0.66	0.79	DFII
RMNY	0.49	0.64	0.54	0.47	-0.22	0.67	0.06		0.47	-0.09	RMNY
GOPIX	0.71	0.85	0.81	0.88	-0.39	0.66	-0.66	0.47		-0.59	GOPIX
NVDB	-0.05	-0.23	-0.29	-0.28	0.62	-0.03	0.79	-0.09	-0.59		NVDB
	STARX	GTRFX	HEQCX	EQCHX	PLTA	HIIIX	DFII	RMNY	GOPIX	NVDB

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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

HEQCX	+ 0.92	STARX
HIIIX	+ 0.89	STARX
EQCHX	+ 0.89	GTRFX
HIIIX	+ 0.89	HEQCX
EQCHX	+ 0.88	HEQCX
GOPIX	+ 0.88	EQCHX

High negative correlations

GOPIX	- 0.66	DFII
NVDB	- 0.59	GOPIX
DFII	- 0.4	EQCHX
GOPIX	- 0.39	PLTA
DFII	- 0.35	GTRFX
DFII	- 0.3	HEQCX

Risk-Adjusted Indicators

There is a big difference between KINETICS Mutual Fund performing well and Kinetics Multi-disciplina 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 Multi-disciplina'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
STARX	0.38	0.04	(0.02)	0.49	0.50	(0.38)	0.79	(0.85)	2.22
GTRFX	0.98	0.23	0.12	0.41	1.37	(1.26)	1.19	(1.22)	23.39
HEQCX	0.62	0.08	0.05	0.46	0.66	(0.71)	1.68	(1.31)	3.58
EQCHX	0.70	0.11	0.06	0.59	0.79	(0.96)	1.94	(1.31)	5.35
PLTA	4.67	(0.72)	0.00	(0.18)	0.00	0.00	9.37	(12.13)	30.51
HIIIX	0.26	0.00	(0.09)	0.04	0.26	(0.37)	0.50	(0.50)	1.74
DFII	2.21	(0.42)	0.00	(0.32)	0.00	0.00	3.55	(5.43)	12.24
RMNY	0.14	(0.01)	0.00	(0.25)	0.00	0.00	0.29	(0.25)	1.18
GOPIX	0.63	0.17	0.14	0.95	0.43	(0.80)	1.86	(1.41)	4.22
NVDB	3.47	0.01	0.01	0.06	4.30	(3.56)	6.21	(6.95)	21.21

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