Knights Of Correlations

KCLIX Fund

USD 9.82 0.01 0.10%

The current 90-days correlation between Knights Of Columbus and Jennison Natural Resources is 0.16 (i.e., Average diversification). The correlation of Knights Of 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.

Knights Of Correlation With Market

Significant diversification

The correlation between Knights Of Columbus and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knights Of Columbus 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 Knights Of Columbus. 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 gross domestic product.

Moving together with Knights Mutual Fund

0.9	VBIRX	Vanguard Short Term	Pair Corr
0.91	VFSUX	Vanguard Short Term	Pair Corr
0.94	VFSIX	Vanguard Short Term	Pair Corr
0.94	VFSTX	Vanguard Short Term	Pair Corr
0.95	VBITX	Vanguard Short Term	Pair Corr
0.94	VBISX	Vanguard Short Term	Pair Corr
0.88	VSCSX	Vanguard Short Term	Pair Corr
0.74	LALDX	Lord Abbett Short	Pair Corr
0.67	LDLAX	Lord Abbett Short	Pair Corr
0.67	LDLRX	Lord Abbett Short	Pair Corr
0.71	FGPMX	Franklin Gold And	Pair Corr
0.62	FRGOX	Franklin Gold Precious	Pair Corr
0.71	MIDSX	Midas Fund Midas	Pair Corr
0.63	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.65	FLRYX	Nuveen Large Cap	Pair Corr
0.86	JNJ	Johnson Johnson	Pair Corr
0.69	MMM	3M Company	Pair Corr
0.78	CAT	Caterpillar	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr

Moving against Knights Mutual Fund

0.77	HD	Home Depot	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.66	MSFT	Microsoft	Pair Corr
0.62	DIS	Walt Disney	Pair Corr
0.58	BA	Boeing	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.48	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	PNRCX	GMOWX	SMAPX	IGNAX	FIKAX	PSPFX	FRNRX
PNRCX		0.86	0.25	0.89	0.45	0.94	0.88	PNRCX
GMOWX	0.86		0.09	0.77	0.61	0.8	0.77	GMOWX
SMAPX	0.25	0.09		0.23	0.55	0.16	0.45	SMAPX
IGNAX	0.89	0.77	0.23		0.4	0.86	0.95	IGNAX
FIKAX	0.45	0.61	0.55	0.4		0.45	0.58	FIKAX
PSPFX	0.94	0.8	0.16	0.86	0.45		0.83	PSPFX
FRNRX	0.88	0.77	0.45	0.95	0.58	0.83		FRNRX
	PNRCX	GMOWX	SMAPX	IGNAX	FIKAX	PSPFX	FRNRX

Risk-Adjusted Indicators

There is a big difference between Knights Mutual Fund performing well and Knights Of 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 Knights Of'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
PNRCX	1.03	0.11	0.07	0.17	1.33	(1.03)	2.24	(2.62)	6.80
GMOWX	0.97	0.08	0.06	0.15	1.06	(1.12)	2.02	(1.83)	5.52
SMAPX	0.60	0.03	(0.06)	(0.08)	0.80	(0.63)	1.19	(1.33)	3.11
IGNAX	0.84	0.18	0.08	2.49	1.11	(0.86)	1.62	(2.10)	5.41
FIKAX	0.63	0.05	(0.01)	0.62	0.79	(0.83)	1.60	(1.32)	4.65
PSPFX	1.29	0.25	0.14	0.32	1.42	(1.53)	3.08	(3.00)	7.71
FRNRX	0.78	0.14	0.07	1.03	1.04	(0.80)	1.60	(1.93)	4.74

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