Kinetics Market Correlations

KMKCX Fund

USD 94.35 7.79 9.00%

The current 90-days correlation between Kinetics Market Oppo and Touchstone Ultra Short is -0.17 (i.e., Good diversification). The correlation of Kinetics Market 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 Market Correlation With Market

Very weak diversification

The correlation between Kinetics Market Opportunities and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Market Opportunities 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 Market Opportunities. 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 main economic indicators.

Moving together with Kinetics Mutual Fund

1.0	KGLCX	Kinetics Global Steady Growth	Pair Corr
1.0	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.99	WWWFX	Kinetics Internet Steady Growth	Pair Corr
0.99	KINCX	Kinetics Internet Steady Growth	Pair Corr
1.0	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
1.0	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
1.0	KMKYX	Kinetics Market Oppo Steady Growth	Pair Corr
1.0	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
1.0	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
1.0	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
1.0	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
1.0	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
1.0	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
1.0	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
1.0	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.82	PAMCX	T Rowe Price	Pair Corr
0.82	RRMGX	T Rowe Price	Pair Corr
0.83	TRQZX	T Rowe Price	Pair Corr
0.82	RPMGX	T Rowe Price	Pair Corr
0.92	PRJIX	T Rowe Price	Pair Corr
0.92	PRNHX	T Rowe Price	Pair Corr
0.92	TRUZX	T Rowe Price	Pair Corr
0.91	PCBIX	Midcap Fund Institutional	Pair Corr
0.91	PEMGX	Midcap Fund Class	Pair Corr
0.91	PMBCX	Midcap Fund Class	Pair Corr
0.9	VTSMX	Vanguard Total Stock	Pair Corr

Moving against Kinetics Mutual Fund

0.72	GAAGX	Gmo Alternative Allo	Pair Corr
0.71	GAAKX	Gmo Alternative Allo	Pair Corr
0.93	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.91	KO	Coca Cola Aggressive Push	Pair Corr
0.86	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.83	GPBFX	Gmo E Plus	Pair Corr
0.62	GPMFX	Guidepath Managed Futures	Pair Corr
0.4	PG	Procter Gamble	Pair Corr
0.34	PQTAX	Pimco Trends Managed	Pair Corr
0.32	PQTNX	Pimco Trends Managed	Pair Corr
0.32	PQTIX	Aa Pimco Tr	Pair Corr

Related Correlations Analysis

	TSDCX	VISTX	ASTIX	AOUNX	CDICX	SWSFX	TSDUX
TSDCX		0.25	0.76	0.96	0.07	0.86	0.9	TSDCX
VISTX	0.25		0.0	0.31	0.92	0.32	0.01	VISTX
ASTIX	0.76	0.0		0.75	-0.25	0.71	0.9	ASTIX
AOUNX	0.96	0.31	0.75		0.13	0.88	0.89	AOUNX
CDICX	0.07	0.92	-0.25	0.13		0.08	-0.26	CDICX
SWSFX	0.86	0.32	0.71	0.88	0.08		0.84	SWSFX
TSDUX	0.9	0.01	0.9	0.89	-0.26	0.84		TSDUX
	TSDCX	VISTX	ASTIX	AOUNX	CDICX	SWSFX	TSDUX

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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

AOUNX	+ 0.96	TSDCX
CDICX	+ 0.92	VISTX
TSDUX	+ 0.9	TSDCX
TSDUX	+ 0.9	ASTIX
TSDUX	+ 0.89	AOUNX
SWSFX	+ 0.88	AOUNX

High negative correlations

TSDUX	- 0.26	CDICX
CDICX	- 0.25	ASTIX
ASTIX	- 0.0	VISTX

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Market 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 Market'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
TSDCX	0.06	0.01	(0.96)	(0.60)	0.00	(0.16)	0.11	(0.11)	0.55
VISTX	0.08	0.00	(0.98)	0.04	0.00	(0.10)	0.15	(0.15)	0.61
ASTIX	0.28	0.01	(0.15)	0.14	0.25	(0.33)	0.65	(0.64)	1.79
AOUNX	0.05	0.01	(1.02)	(5.43)	0.00	(0.22)	0.10	(0.10)	0.61
CDICX	0.09	0.00	(0.98)	0.32	0.07	(0.12)	0.19	(0.13)	0.64
SWSFX	0.05	0.01	(1.06)	(0.31)	0.00	(0.22)	0.10	(0.10)	0.59
TSDUX	0.04	0.01	0.00	1.16	0.00	0.00	0.10	0.00	0.10

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