Kinetics Small Correlations

KSCOX Fund

USD 211.86 1.32 0.62%

The current 90-days correlation between Kinetics Small Cap and Large Cap Core is 0.06 (i.e., Significant diversification). The correlation of Kinetics Small 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 Small Correlation With Market

Poor diversification

The correlation between Kinetics Small Cap and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Small Cap 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 Small Cap. 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 metropolitan statistical area.

Moving together with Kinetics Mutual Fund

0.82	KGLCX	Kinetics Global	Pair Corr
0.78	KGLAX	Kinetics Global	Pair Corr
1.0	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.82	WWWEX	Kinetics Global	Pair Corr
0.85	KMDNX	Kinetics Multi-disciplina	Pair Corr
0.99	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.95	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
0.99	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.99	KMKYX	Kinetics Market Oppo Steady Growth	Pair Corr
0.96	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.97	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.98	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.98	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.98	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.98	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.97	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
1.0	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.98	KSOAX	Kinetics Small Cap Steady Growth	Pair Corr
0.98	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.77	GAAKX	Gmo Alternative Allo	Pair Corr
0.78	GAAGX	Gmo Alternative Allo	Pair Corr
0.77	GPMFX	Guidepath Managed Futures	Pair Corr
0.81	PQTAX	Pimco Trends Managed	Pair Corr
0.81	PQTNX	Pimco Trends Managed	Pair Corr
0.82	PQTIX	Aa Pimco Tr	Pair Corr
0.9	WARCX	Wells Fargo Advantage	Pair Corr

Related Correlations Analysis

	PHSIX	STSGX	FSCPX	MIQBX	EXHAX	FSRBX	FSRFX	AIOIX	GTLIX
PHSIX		0.78	0.68	0.9	0.83	0.87	0.89	0.86	0.84	PHSIX
STSGX	0.78		0.85	0.82	0.76	0.63	0.59	0.63	0.68	STSGX
FSCPX	0.68	0.85		0.69	0.75	0.62	0.49	0.41	0.69	FSCPX
MIQBX	0.9	0.82	0.69		0.85	0.73	0.77	0.86	0.83	MIQBX
EXHAX	0.83	0.76	0.75	0.85		0.77	0.68	0.72	0.96	EXHAX
FSRBX	0.87	0.63	0.62	0.73	0.77		0.94	0.82	0.85	FSRBX
FSRFX	0.89	0.59	0.49	0.77	0.68	0.94		0.89	0.77	FSRFX
AIOIX	0.86	0.63	0.41	0.86	0.72	0.82	0.89		0.77	AIOIX
GTLIX	0.84	0.68	0.69	0.83	0.96	0.85	0.77	0.77		GTLIX
	PHSIX	STSGX	FSCPX	MIQBX	EXHAX	FSRBX	FSRFX	AIOIX	GTLIX

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Small 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 Small'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
PHSIX	0.10	0.02	(0.34)	0.41	0.00	(0.18)	0.22	(0.11)	0.86
STSGX	0.96	0.00	0.02	0.07	1.07	(1.05)	1.98	(1.90)	6.52
FSCPX	0.79	(0.02)	(0.02)	0.04	0.99	(0.85)	1.99	(1.63)	5.30
MIQBX	0.63	0.10	0.04	(3.11)	0.68	(0.71)	1.46	(1.28)	3.88
EXHAX	0.76	0.18	0.20	0.38	0.51	(0.98)	1.26	(1.26)	12.83
FSRBX	0.95	0.13	0.11	0.17	1.08	(1.08)	2.44	(1.64)	5.70
FSRFX	0.99	0.15	0.16	0.18	0.83	(1.29)	2.45	(2.14)	5.39
AIOIX	0.84	0.18	0.15	0.27	0.85	(0.95)	1.93	(1.78)	4.97
GTLIX	1.04	0.40	0.49	0.53	0.00	(1.49)	1.85	(1.51)	22.76

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Kinetics Small Correlations

Kinetics Small Correlation With Market

Poor diversification

Moving together with Kinetics Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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