Kennedy Capital Correlations

KVALX Fund

USD 12.11 0.52 4.12%

The current 90-days correlation between Kennedy Capital Small and Aig Government Money is 0.22 (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

Average diversification

The correlation between Kennedy Capital Small and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kennedy Capital Small 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 Small. 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 bureau of economic analysis.

Moving together with Kennedy Mutual Fund

0.95	KESGX	Kennedy Capital Esg Potential Growth	Pair Corr
0.92	KGROX	Kennedy Capital Small	Pair Corr
0.9	VSIIX	Vanguard Small Cap	Pair Corr
0.96	VISVX	Vanguard Small Cap	Pair Corr
0.97	DFSVX	Us Small Cap	Pair Corr
0.96	DFFVX	Us Targeted Value	Pair Corr
0.91	UBVCX	Undiscovered Managers	Pair Corr
0.92	UBVAX	Undiscovered Managers	Pair Corr
0.98	UBVSX	Undiscovered Managers	Pair Corr
0.96	AVFIX	American Beacon Small	Pair Corr
0.75	FTCAX	Templeton Strained Bond	Pair Corr
0.65	PYARX	Payden Absolute Return	Pair Corr
0.66	BCAAX	Brandywineglobal C	Pair Corr
0.75	FBALX	Fidelity Balanced	Pair Corr
0.81	TFOAX	Touchstone Focused	Pair Corr
0.69	VFIAX	Vanguard 500 Index	Pair Corr
0.69	CMCGX	Columbia Moderate 529	Pair Corr
0.8	JQLGX	Multimanager Lifestyle	Pair Corr
0.62	FATTX	American Funds 2045	Pair Corr
0.96	ASVNX	Small Cap Value	Pair Corr
0.88	STENX	Northern Lights	Pair Corr
0.9	FSSNX	Fidelity Small Cap Potential Growth	Pair Corr
0.66	AMRFX	American Mutual	Pair Corr
0.63	ISGLX	Columbia Integrated Small	Pair Corr
0.65	AMRMX	American Mutual	Pair Corr
0.91	OPOCX	Oppenheimer Discovery	Pair Corr
0.8	ILESX	Fisher Large Cap	Pair Corr

Moving against Kennedy Mutual Fund

0.95	UIPIX	Ultrashort Mid Cap Steady Growth	Pair Corr
0.68	USPSX	Profunds Ultrashort	Pair Corr
0.68	USPIX	Profunds Ultrashort	Pair Corr
0.39	PDI	Pimco Dynamic Income	Pair Corr
0.4	VEIEX	Vanguard Emerging Markets	Pair Corr

Related Correlations Analysis

	SMAAX	ELMXX	DPIGX	TWACX	HUMXX	SIGVX
SMAAX		0.0	0.64	0.75	0.0	-0.19	SMAAX
ELMXX	0.0		0.0	0.0	0.0	0.0	ELMXX
DPIGX	0.64	0.0		0.35	0.0	0.48	DPIGX
TWACX	0.75	0.0	0.35		0.0	-0.58	TWACX
HUMXX	0.0	0.0	0.0	0.0		0.0	HUMXX
SIGVX	-0.19	0.0	0.48	-0.58	0.0		SIGVX
	SMAAX	ELMXX	DPIGX	TWACX	HUMXX	SIGVX

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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

TWACX	+ 0.75	SMAAX
DPIGX	+ 0.64	SMAAX
SIGVX	+ 0.48	DPIGX
TWACX	+ 0.35	DPIGX
ELMXX	+ 0.0	SMAAX
HUMXX	+ 0.0	SMAAX

High negative correlations

SIGVX	- 0.58	TWACX
SIGVX	- 0.19	SMAAX
SIGVX	- 0.0	HUMXX
HUMXX	- 0.0	TWACX
HUMXX	- 0.0	DPIGX
SIGVX	- 0.0	ELMXX

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
SMAAX	0.13	(0.02)	0.00	(0.94)	0.00	0.00	0.20	(0.39)	0.99
ELMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DPIGX	0.04	(0.01)	(0.23)	6.23	0.05	(0.14)	0.11	(0.11)	0.42
TWACX	0.07	(0.02)	0.00	2.04	0.00	0.00	0.11	(0.11)	0.56
HUMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SIGVX	0.04	0.00	(0.18)	(1.82)	0.00	(0.16)	0.10	(0.10)	0.51

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