Kopernik Global Correlations

KGGIX Fund

USD 12.06 0.09 0.74%

The current 90-days correlation between Kopernik Global All and Kopernik International Fund is 0.97 (i.e., Almost no diversification). The correlation of Kopernik 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.

Kopernik Global Correlation With Market

Average diversification

The correlation between Kopernik Global All Cap and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kopernik Global All 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 Kopernik Global All 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 gross domestic product.

Moving together with Kopernik Mutual Fund

1.0	KGGAX	Kopernik Global All	Pair Corr
0.98	KGIIX	Kopernik International	Pair Corr
0.98	KGIRX	Kopernik International	Pair Corr
0.62	DISVX	Dfa International Small	Pair Corr
0.64	FMNEX	Free Market International	Pair Corr
0.7	OANEX	Oakmark International	Pair Corr
0.7	OAZEX	Oakmark International	Pair Corr
0.7	OAYEX	Oakmark International	Pair Corr
0.7	OAKEX	Oakmark International	Pair Corr

Moving against Kopernik Mutual Fund

0.54	KMKCX	Kinetics Market Oppo	Pair Corr
0.54	KMKAX	Kinetics Market Oppo	Pair Corr
0.51	KNPYX	Kinetics Paradigm	Pair Corr
0.51	WWNPX	Kinetics Paradigm	Pair Corr
0.51	KNPCX	Kinetics Paradigm	Pair Corr
0.49	LSHUX	Horizon Spin Off	Pair Corr
0.49	LSHCX	Horizon Spin Off	Pair Corr
0.67	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.59	CLM	Cornerstone Strategic	Pair Corr
0.51	KNPAX	Kinetics Paradigm	Pair Corr
0.5	FZROX	Fidelity Zero Total	Pair Corr
0.48	VFINX	Vanguard 500 Index	Pair Corr
0.46	ELFNX	Elfun Trusts Elfun	Pair Corr
0.45	FIVUX	First Investors Oppo	Pair Corr
0.34	GVCAX	Gabelli Value	Pair Corr
0.34	AHYDX	High Yield Fund	Pair Corr

Related Correlations Analysis

	KGGIX	KGIIX	KGIRX	VWEAX	AIVSX	FDTRX	CUBA	FAGOX	REGTX
KGGIX		0.98	0.98	-0.38	-0.39	-0.52	-0.34	-0.42	-0.2	KGGIX
KGIIX	0.98		1.0	-0.44	-0.53	-0.65	-0.44	-0.56	-0.35	KGIIX
KGIRX	0.98	1.0		-0.44	-0.54	-0.66	-0.44	-0.57	-0.35	KGIRX
VWEAX	-0.38	-0.44	-0.44		0.42	0.4	0.0	0.34	0.56	VWEAX
AIVSX	-0.39	-0.53	-0.54	0.42		0.96	0.79	0.97	0.93	AIVSX
FDTRX	-0.52	-0.65	-0.66	0.4	0.96		0.8	0.98	0.85	FDTRX
CUBA	-0.34	-0.44	-0.44	0.0	0.79	0.8		0.84	0.57	CUBA
FAGOX	-0.42	-0.56	-0.57	0.34	0.97	0.98	0.84		0.85	FAGOX
REGTX	-0.2	-0.35	-0.35	0.56	0.93	0.85	0.57	0.85		REGTX
	KGGIX	KGIIX	KGIRX	VWEAX	AIVSX	FDTRX	CUBA	FAGOX	REGTX

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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

KGIRX	+ 1.0	KGIIX
KGIIX	+ 0.98	KGGIX
KGIRX	+ 0.98	KGGIX
FAGOX	+ 0.98	FDTRX
FAGOX	+ 0.97	AIVSX
FDTRX	+ 0.96	AIVSX

High negative correlations

FDTRX	- 0.66	KGIRX
FDTRX	- 0.65	KGIIX
FAGOX	- 0.57	KGIRX
FAGOX	- 0.56	KGIIX
AIVSX	- 0.54	KGIRX
AIVSX	- 0.53	KGIIX

Risk-Adjusted Indicators

There is a big difference between Kopernik Mutual Fund performing well and Kopernik 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 Kopernik 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
KGGIX	0.59	(0.02)	(0.13)	(0.09)	0.75	(0.59)	1.44	(1.25)	3.03
KGIIX	0.56	(0.03)	0.00	(1.21)	0.00	0.00	1.29	(1.28)	2.91
KGIRX	0.56	(0.03)	0.00	(1.23)	0.00	0.00	1.31	(1.29)	2.86
VWEAX	0.09	(0.01)	(0.43)	(0.03)	0.04	(0.22)	0.18	(0.18)	0.73
AIVSX	0.48	0.05	0.04	0.16	0.43	(0.54)	0.96	(0.84)	3.71
FDTRX	0.81	0.09	0.07	0.20	0.98	(0.92)	1.89	(1.62)	6.08
CUBA	0.80	0.09	0.04	0.24	0.92	(0.95)	1.72	(1.63)	5.56
FAGOX	0.72	0.15	0.12	0.27	0.74	(0.75)	1.97	(1.32)	5.65
REGTX	0.40	0.01	(0.05)	0.11	0.42	(0.41)	0.70	(0.82)	2.67

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