Kennedy Capital Correlations

KESGX Fund

USD 16.02 0.12 0.75%

The current 90-days correlation between Kennedy Capital Esg and Alpsalerian Energy Infrastructure is 0.25 (i.e., Modest diversification). The correlation of Kennedy Capital 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.

Kennedy Capital Correlation With Market

Almost no diversification

The correlation between Kennedy Capital Esg and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kennedy Capital Esg 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 Kennedy Capital Esg. 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 price.

Moving together with Kennedy Mutual Fund

0.92	KVALX	Kennedy Capital Small	Pair Corr
0.98	KGROX	Kennedy Capital Small	Pair Corr
0.9	VSMAX	Vanguard Small Cap	Pair Corr
0.9	VSCIX	Vanguard Small Cap	Pair Corr
0.9	VSCPX	Vanguard Small Cap	Pair Corr
0.97	NAESX	Vanguard Small Cap	Pair Corr
0.91	FSSNX	Fidelity Small Cap	Pair Corr
0.99	DFSTX	Us Small Cap	Pair Corr
0.82	PASVX	T Rowe Price	Pair Corr
0.81	PRVIX	T Rowe Price	Pair Corr
0.8	TRZVX	T Rowe Price	Pair Corr
0.81	PRSVX	T Rowe Price	Pair Corr
0.79	FAJTX	American Funds 2055	Pair Corr
0.87	GSTIX	Goldman Sachs Strategic	Pair Corr
0.79	AANTX	American Funds 2060	Pair Corr
0.85	JHRDX	Retirement Living Through	Pair Corr
0.88	ADX	Adams Diversified Equity	Pair Corr
0.94	ASTAX	Strategic Allocation	Pair Corr
0.72	PGGAX	American Funds Global	Pair Corr
0.86	VFTAX	Vanguard Ftse Social	Pair Corr
0.79	ETIEX	Eventide Exponential	Pair Corr
0.97	STSIX	American Beacon Stephens	Pair Corr
0.8	ALZFX	Alger Capital Apprec	Pair Corr
0.82	GWSVX	Gabelli Focus	Pair Corr
0.91	GMSRX	Nationwide Small Cap	Pair Corr
0.86	ASCFX	Allianzgi Small Cap	Pair Corr
0.82	PTY	Pimco Corporate Income	Pair Corr
0.89	ONAIX	Oppenheimer Aggrssv	Pair Corr
0.94	GNSRX	Aberdeen Small Cap	Pair Corr

Moving against Kennedy Mutual Fund

0.64	GAAKX	Gmo Alternative Allo	Pair Corr
0.63	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	ALEFX	FIKAX	HNRGX	PEO	APWEX	GMOWX
ALEFX		0.71	0.83	0.76	0.91	-0.29	ALEFX
FIKAX	0.71		0.84	0.84	0.65	0.27	FIKAX
HNRGX	0.83	0.84		0.64	0.87	-0.17	HNRGX
PEO	0.76	0.84	0.64		0.65	0.25	PEO
APWEX	0.91	0.65	0.87	0.65		-0.4	APWEX
GMOWX	-0.29	0.27	-0.17	0.25	-0.4		GMOWX
	ALEFX	FIKAX	HNRGX	PEO	APWEX	GMOWX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

APWEX	+ 0.91	ALEFX
APWEX	+ 0.87	HNRGX
HNRGX	+ 0.84	FIKAX
PEO	+ 0.84	FIKAX
HNRGX	+ 0.83	ALEFX
PEO	+ 0.76	ALEFX

High negative correlations

GMOWX	- 0.4	APWEX
GMOWX	- 0.29	ALEFX
GMOWX	- 0.17	HNRGX

Risk-Adjusted Indicators

There is a big difference between Kennedy Mutual Fund performing well and Kennedy Capital 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 Kennedy Capital'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
ALEFX	0.86	0.00	(0.01)	0.03	1.66	(0.81)	1.37	(2.29)	9.49
FIKAX	0.93	(0.07)	0.00	(0.31)	0.00	0.00	2.07	(2.13)	5.82
HNRGX	0.93	0.01	(0.01)	0.08	1.27	(0.93)	1.80	(2.32)	6.94
PEO	0.72	(0.07)	0.00	(0.13)	0.00	0.00	1.63	(1.72)	4.73
APWEX	0.91	0.07	0.06	0.10	1.04	(1.01)	2.04	(1.67)	7.37
GMOWX	1.07	(0.15)	0.00	(10.31)	0.00	0.00	1.80	(2.79)	5.33

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