Kensington Active Correlations

Mutual Funds . USA . 
Fund . Kensington Active Advantage
KADCX Fund  USD 10.11  0.07  0.70%   
The current 90-days correlation between Kensington Active and Kensington Defender Institutional is 0.88 (i.e., Very poor 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

Very poor diversification

The correlation between Kensington Active Advantage and DJI is 0.82 (i.e., Very poor 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 main economic indicators.

Moving together with Kensington Mutual Fund

  0.94KADAX Kensington ActivePairCorr
  1.0KADIX Kensington ActivePairCorr
  0.93KAGAX Kensington Dynamic GrowthPairCorr
  0.93KAGCX Kensington Dynamic GrowthPairCorr
  0.93KAGIX Kensington Dynamic GrowthPairCorr
  0.63FEMDX Franklin Emerging MarketPairCorr
  0.98CGRGX American Funds GrowthPairCorr
  0.82JIIOX Lifestyle Ii AggressivePairCorr
  0.91CPOAX Morgan Stanley MultiPairCorr
  0.87VSIAX Vanguard Small CapPairCorr
  0.94RYNHX Nova Fund ClassPairCorr
  0.68CICAX Investment Of AmericaPairCorr
  0.79SNWAX Snow Capital SmallPairCorr
  0.83TBDAX Prudential JennisonPairCorr
  0.91GAB Gabelli Equity TrustPairCorr
  0.97VMGRX Vanguard Mid CapPairCorr
  0.97VAFAX Invesco American FraPairCorr
  0.93WESRX Teton Vertible SecuritiesPairCorr
  0.62MITBX Massachusetts InvestorsPairCorr
  0.99VFTAX Vanguard Ftse SocialPairCorr
  0.9AMAJX Small Cap DividendPairCorr
  0.97CGQGX American Funds GrowthPairCorr
  0.76OASDX Oakhurst StrategicPairCorr

Moving against Kensington Mutual Fund

  0.55PFHCX Pacific Funds SmallPairCorr
  0.31ABRIX Invesco Balanced RiskPairCorr
  0.62NHS Neuberger Berman HighPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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