Kinetics Paradigm Correlations

Mutual Funds . USA . 
Fund . Kinetics Paradigm Fund
KNPCX Fund  USD 157.70  5.74  3.78%   
The current 90-days correlation between Kinetics Paradigm and Fidelity Series Government is -0.32 (i.e., Very good diversification). The correlation of Kinetics Paradigm 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 Paradigm Correlation With Market

Weak diversification

The correlation between Kinetics Paradigm Fund and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Paradigm 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 Paradigm 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 main economic indicators.

Moving together with Kinetics Mutual Fund

  1.0WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.99WWWEX Kinetics GlobalPairCorr
  0.99KINCX Kinetics InternetPairCorr
  1.0KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  1.0KNPAX Kinetics Paradigm Steady GrowthPairCorr
  1.0LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.79KSCYX Kinetics Small Cap Steady GrowthPairCorr
  1.0KSCOX Kinetics Small Cap Steady GrowthPairCorr
  1.0KSOCX Kinetics Small Cap Steady GrowthPairCorr
  0.86PAMCX T Rowe PricePairCorr
  0.86RRMGX T Rowe PricePairCorr
  0.87TRQZX T Rowe PricePairCorr
  0.86RPMGX T Rowe PricePairCorr
  0.94PRJIX T Rowe PricePairCorr
  0.76PRNHX T Rowe PricePairCorr
  0.94TRUZX T Rowe PricePairCorr
  0.93PCBIX Midcap Fund InstitutionalPairCorr
  0.93PEMGX Midcap Fund ClassPairCorr
  0.93PMBCX Midcap Fund ClassPairCorr
  0.74TEGYX Mid Cap GrowthPairCorr
  0.66TRLCX Tiaa-cref Large-capPairCorr
  0.83PRDSX T Rowe PricePairCorr
  0.83GAB Gabelli Equity TrustPairCorr
  0.78FSRBX Banking Portfolio BankingPairCorr
  0.77BAC Bank of America Aggressive PushPairCorr
  0.65AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.82JPM JPMorgan Chase Sell-off TrendPairCorr

Moving against Kinetics Mutual Fund

  0.69LIIAX Columbia Porate IncomePairCorr
  0.69CIFRX Columbia Porate IncomePairCorr
  0.68SRINX Columbia Porate IncomePairCorr
  0.74PFE Pfizer Inc Aggressive PushPairCorr
  0.72KO Coca Cola Sell-off TrendPairCorr
  0.71JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.68MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.33VZ Verizon Communications Aggressive PushPairCorr

Related Correlations Analysis

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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   
JGIFX
+ 1.0
FHNFX
CGTCX
+ 1.0
USGFX
JGIFX
+ 1.0
USGFX
USGFX
+ 0.99
FHNFX
CGTCX
+ 0.99
FHNFX
JGIFX
+ 0.99
CGTCX
  
High negative correlations   
LCCXX
- 0.0
SMAAX
LCCXX
- 0.0
JGIFX
LCCXX
- 0.0
CGTCX
LCCXX
- 0.0
USGFX
LCCXX
- 0.0
FHNFX

Risk-Adjusted Indicators

There is a big difference between Kinetics Mutual Fund performing well and Kinetics Paradigm 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 Paradigm'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.

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