Kinetics Global Correlations

KGLAX Fund

16.63 0.16 0.97%

The current 90-days correlation between Kinetics Global and T Rowe Price is -0.07 (i.e., Good diversification). The correlation of Kinetics Global 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 Global Correlation With Market

Poor diversification

The correlation between Kinetics Global Fund and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Global 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 Global 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 nation.

Moving together with Kinetics Mutual Fund

1.0	KGLCX	Kinetics Global	Pair Corr
0.8	WWNPX	Kinetics Paradigm	Pair Corr
0.96	WWWFX	Kinetics Internet	Pair Corr
1.0	WWWEX	Kinetics Global	Pair Corr
0.96	KINCX	Kinetics Internet	Pair Corr
0.94	KMKCX	Kinetics Market Oppo	Pair Corr
0.94	KMKAX	Kinetics Market Oppo	Pair Corr
0.94	KMKNX	Kinetics Market Oppo	Pair Corr
0.94	KMKYX	Kinetics Market Oppo	Pair Corr
0.79	KNPAX	Kinetics Paradigm	Pair Corr
0.78	KNPCX	Kinetics Paradigm	Pair Corr
0.61	LSHUX	Horizon Spin Off	Pair Corr
0.61	LSHCX	Horizon Spin Off	Pair Corr
0.62	LSHAX	Horizon Spin Off	Pair Corr
0.76	KSCYX	Kinetics Small Cap	Pair Corr
0.76	KSCOX	Kinetics Small Cap	Pair Corr
0.76	KSOAX	Kinetics Small Cap	Pair Corr
0.77	KSOCX	Kinetics Small Cap	Pair Corr
0.8	TCTGX	Transamerica Cleartrack	Pair Corr
0.79	TDKTX	Cleartrack 2015 Class	Pair Corr
0.8	TCTJX	Transamerica Cleartrack	Pair Corr
0.85	TCSUX	Cleartrack 2020 Class	Pair Corr
0.66	PDI	Pimco Dynamic Income	Pair Corr

Moving against Kinetics Mutual Fund

0.53	KMDNX	Kinetics Multi-disciplina	Pair Corr
0.37	ABALX	American Balanced	Pair Corr
0.49	CLBEX	American Balanced	Pair Corr
0.49	RLBFX	American Balanced	Pair Corr
0.48	RLBCX	American Balanced	Pair Corr
0.48	RLBBX	American Balanced	Pair Corr
0.47	BALCX	American Balanced	Pair Corr
0.42	PEVAX	Pace Smallmedium Value	Pair Corr
0.38	BALFX	American Balanced	Pair Corr
0.38	CLBAX	American Balanced	Pair Corr
0.36	TCQPX	Tiaa Cref Lifecycle	Pair Corr

Related Correlations Analysis

	PRINX	NSIOX	CSBCX	PRFHX	PCMNX	TBGAX	JAFLX	TIMTX
PRINX		0.96	0.44	0.98	0.83	0.94	0.53	0.8	PRINX
NSIOX	0.96		0.41	0.95	0.81	0.91	0.46	0.82	NSIOX
CSBCX	0.44	0.41		0.47	0.5	0.54	0.93	0.5	CSBCX
PRFHX	0.98	0.95	0.47		0.86	0.95	0.57	0.83	PRFHX
PCMNX	0.83	0.81	0.5	0.86		0.95	0.65	0.97	PCMNX
TBGAX	0.94	0.91	0.54	0.95	0.95		0.65	0.93	TBGAX
JAFLX	0.53	0.46	0.93	0.57	0.65	0.65		0.59	JAFLX
TIMTX	0.8	0.82	0.5	0.83	0.97	0.93	0.59		TIMTX
	PRINX	NSIOX	CSBCX	PRFHX	PCMNX	TBGAX	JAFLX	TIMTX

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Global 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 Global'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
PRINX	0.07	0.01	(0.45)	(1.39)	0.00	(0.14)	0.18	(0.09)	0.71
NSIOX	0.07	0.01	(0.44)	(1.42)	0.00	(0.15)	0.20	(0.10)	0.61
CSBCX	0.13	0.00	(0.40)	(0.01)	0.14	(0.15)	0.21	(0.27)	0.75
PRFHX	0.09	0.02	(0.39)	6.99	0.00	(0.14)	0.27	(0.09)	0.81
PCMNX	0.06	0.02	(0.52)	20.03	0.00	(0.10)	0.16	(0.08)	0.33
TBGAX	0.08	0.02	(0.42)	(2.91)	0.00	(0.14)	0.19	(0.09)	0.74
JAFLX	0.12	0.00	(0.39)	0.29	0.08	(0.16)	0.20	(0.30)	0.91
TIMTX	0.07	0.02	(0.44)	(2.10)	0.00	(0.12)	0.19	(0.09)	0.56

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