Kinetics Paradigm Correlations

Mutual Funds . USA . 
Fund . Kinetics Paradigm Fund
KNPYX Fund  USD 196.96  19.52  11.00%   
The current 90-days correlation between Kinetics Paradigm and Kinetics Global Fund is 0.85 (i.e., Very poor diversification). The correlation of Kinetics Paradigm 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 Paradigm Correlation With Market

Very weak diversification

The correlation between Kinetics Paradigm Fund and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Paradigm Fund 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 Paradigm Fund. 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 manufacturing.

Moving together with Kinetics Mutual Fund

  0.99KGLCX Kinetics Global Steady GrowthPairCorr
  1.0WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.99WWWFX Kinetics Internet Steady GrowthPairCorr
  0.99KINCX Kinetics Internet Steady GrowthPairCorr
  1.0KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KMKAX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KMKNX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KMKYX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KNPAX Kinetics Paradigm Steady GrowthPairCorr
  1.0KNPCX Kinetics Paradigm Steady GrowthPairCorr
  1.0LSHEX Kinetics Spin Off Steady GrowthPairCorr
  1.0LSHUX Horizon Spin Off Steady GrowthPairCorr
  1.0LSHCX Horizon Spin Off Steady GrowthPairCorr
  1.0LSHAX Horizon Spin Off Steady GrowthPairCorr
  1.0KSCYX Kinetics Small Cap Steady GrowthPairCorr
  0.71PAMCX T Rowe PricePairCorr
  0.71RRMGX T Rowe PricePairCorr
  0.83RPMGX T Rowe PricePairCorr
  0.8PRJIX T Rowe PricePairCorr
  0.93PRNHX T Rowe PricePairCorr
  0.93TRUZX T Rowe PricePairCorr
  0.91PMBCX Midcap Fund ClassPairCorr
  0.9VTSMX Vanguard Total StockPairCorr
  0.75T ATT Inc Aggressive PushPairCorr
  0.9AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against Kinetics Mutual Fund

  0.84GPBFX Gmo E PlusPairCorr
  0.71GAAGX Gmo Alternative AlloPairCorr
  0.7GAAKX Gmo Alternative AlloPairCorr
  0.93MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.91KO Coca Cola Aggressive PushPairCorr
  0.86JNJ Johnson Johnson Sell-off TrendPairCorr
  0.63GPMFX Guidepath Managed FuturesPairCorr
  0.42PG Procter GamblePairCorr
  0.36PQTAX Pimco Trends ManagedPairCorr
  0.34PQTNX Pimco Trends ManagedPairCorr
  0.34PQTIX Aa Pimco TrPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Paradigm 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 Paradigm'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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