Kensington Active Correlations

KADAX Fund

USD 10.11 0.06 0.59%

The current 90-days correlation between Kensington Active and Tortoise Energy Independence is 0.07 (i.e., Significant diversification). The correlation of Kensington Active 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.

Kensington Active Correlation With Market

Significant diversification

The correlation between Kensington Active Advantage and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kensington Active Advantage 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 Kensington Active Advantage. 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 Kensington Mutual Fund

0.94	KADCX	Kensington Active	Pair Corr
0.95	KADIX	Kensington Active	Pair Corr
0.92	KAGAX	Kensington Dynamic Growth	Pair Corr
0.92	KAGCX	Kensington Dynamic Growth	Pair Corr
0.92	KAGIX	Kensington Dynamic Growth	Pair Corr
0.67	FEMDX	Franklin Emerging Market	Pair Corr
0.91	CGRGX	American Funds Growth	Pair Corr
0.85	JIIOX	Lifestyle Ii Aggressive	Pair Corr
0.92	CPOAX	Morgan Stanley Multi	Pair Corr
0.78	VSIAX	Vanguard Small Cap	Pair Corr
0.99	RYNHX	Nova Fund Class	Pair Corr
0.68	SNWAX	Snow Capital Small	Pair Corr
0.81	TBDAX	Prudential Jennison	Pair Corr
0.85	GAB	Gabelli Equity Trust	Pair Corr
0.9	VMGRX	Vanguard Mid Cap	Pair Corr
0.92	VAFAX	Invesco American Fra	Pair Corr
0.9	WESRX	Teton Vertible Securities	Pair Corr
0.95	VFTAX	Vanguard Ftse Social	Pair Corr
0.9	AMAJX	Small Cap Dividend	Pair Corr
0.91	CGQGX	American Funds Growth	Pair Corr
0.83	OASDX	Oakhurst Strategic	Pair Corr

Moving against Kensington Mutual Fund

0.55	PFHCX	Pacific Funds Small	Pair Corr
0.39	ABRIX	Invesco Balanced Risk	Pair Corr
0.34	PAUPX	Pimco All Asset	Pair Corr
0.34	PAUIX	Pimco All Asset	Pair Corr
0.64	NHS	Neuberger Berman High	Pair Corr

Related Correlations Analysis

	XNDPX	DLDCX	CGAEX	FRNRX	ENPSX	APWEX
XNDPX		0.37	-0.54	0.5	0.83	0.95	XNDPX
DLDCX	0.37		0.48	0.93	0.78	0.22	DLDCX
CGAEX	-0.54	0.48		0.43	-0.04	-0.62	CGAEX
FRNRX	0.5	0.93	0.43		0.87	0.36	FRNRX
ENPSX	0.83	0.78	-0.04	0.87		0.69	ENPSX
APWEX	0.95	0.22	-0.62	0.36	0.69		APWEX
	XNDPX	DLDCX	CGAEX	FRNRX	ENPSX	APWEX

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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	+ 0.95	XNDPX
FRNRX	+ 0.93	DLDCX
ENPSX	+ 0.87	FRNRX
ENPSX	+ 0.83	XNDPX
ENPSX	+ 0.78	DLDCX
APWEX	+ 0.69	ENPSX

High negative correlations

APWEX	- 0.62	CGAEX
CGAEX	- 0.54	XNDPX
ENPSX	- 0.04	CGAEX

Risk-Adjusted Indicators

There is a big difference between Kensington Mutual Fund performing well and Kensington Active 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 Kensington Active'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
XNDPX	0.95	0.01	0.00	0.04	1.42	(0.91)	1.83	(2.48)	7.22
DLDCX	1.02	(0.23)	0.00	(0.26)	0.00	0.00	1.26	(2.66)	11.02
CGAEX	0.70	(0.16)	0.00	(0.45)	0.00	0.00	1.06	(1.47)	4.70
FRNRX	0.79	(0.16)	0.00	(0.29)	0.00	0.00	1.16	(1.86)	5.21
ENPSX	1.33	(0.17)	0.00	(0.17)	0.00	0.00	2.58	(3.55)	9.91
APWEX	0.90	0.06	0.05	0.09	1.05	(0.99)	2.04	(1.67)	7.37

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