Kinetics Small Correlations

Mutual Funds . USA . 
Fund . Kinetics Small Cap
KSCOX Fund  USD 233.81  19.91  9.31%   
The current 90-days correlation between Kinetics Small Cap and Kinetics Global Fund is 0.84 (i.e., Very poor 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

Very weak diversification

The correlation between Kinetics Small Cap and DJI is 0.54 (i.e., Very weak 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 persons.

Moving together with Kinetics Mutual Fund

  0.99KGLCX Kinetics Global Steady GrowthPairCorr
  0.99KGLAX Kinetics Global Steady GrowthPairCorr
  1.0WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.98WWWFX Kinetics Internet Steady GrowthPairCorr
  0.99WWWEX Kinetics Global Steady GrowthPairCorr
  0.98KINCX Kinetics Internet Steady GrowthPairCorr
  0.95KMDNX Kinetics Multi-disciplinaPairCorr
  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
  1.0KNPYX 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
  0.81KSOAX Kinetics Small Cap Steady GrowthPairCorr
  1.0KSOCX Kinetics Small Cap Steady GrowthPairCorr
  0.95VSGAX Vanguard Small CapPairCorr
  0.95VSGIX Vanguard Small CapPairCorr
  0.95VISGX Vanguard Small CapPairCorr
  0.88VEXPX Vanguard ExplorerPairCorr
  0.88VEXRX Vanguard ExplorerPairCorr
  0.9JGMIX Janus TritonPairCorr
  0.9JGMRX Janus TritonPairCorr
  0.9JGMAX Janus TritonPairCorr
  0.76JGMCX Janus TritonPairCorr
  0.9JGMNX Janus TritonPairCorr
  0.66LETRX Voya Russia FundPairCorr
  0.74SMPSX Semiconductor UltrasectorPairCorr
  0.85TAAIX Thrivent AggressivePairCorr
  0.96CRF Cornerstone StrategicPairCorr
  0.9VFINX Vanguard 500 IndexPairCorr
  0.96VEMPX Vanguard Extended MarketPairCorr
  0.74MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
KGLCX  1.03  0.40  0.48  0.46  0.00 
(1.29)
 3.14 
(1.04)
 5.72 
KGLAX  1.02  0.41  0.49  0.46  0.00 
(1.29)
 3.10 
(1.12)
 5.72 
WWNPX  1.42  0.76  0.47  0.64  0.77 
(1.78)
 3.90 
(1.72)
 8.36 
WWWFX  1.39  0.47  0.47  0.43  0.50 
(1.74)
 4.09 
(1.90)
 8.53 
WWWEX  1.02  0.41  0.47  0.46  0.00 
(1.29)
 3.15 
(1.11)
 5.79 
KINCX  1.39  0.47  0.47  0.43  0.49 
(1.74)
 4.09 
(1.90)
 8.52 
KMDNX  0.04  0.02  0.00  3.61  0.00 
 0.00 
 0.10 
 0.00 
 0.10 
KMKCX  1.29  0.67  0.54  0.60  0.48 
(1.70)
 3.57 
(1.51)
 7.58 
KMKAX  1.29  0.67  0.54  0.60  0.49 
(1.70)
 3.55 
(1.50)
 7.58 
KMKNX  1.29  0.67  0.55  0.60  0.48 
(1.70)
 3.56 
(1.50)
 7.57 

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