Kensington Active Correlations

Mutual Funds . USA . 
Fund . Kensington Active Advantage
KADIX Fund  USD 10.13  0.07  0.69%   
The current 90-days correlation between Kensington Active and Kensington Defender Institutional is -0.03 (i.e., Good 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 gross domestic product.

Moving together with Kensington Mutual Fund

  1.0KADAX Kensington ActivePairCorr
  0.94KADCX Kensington ActivePairCorr
  0.95KAGAX Kensington Dynamic GrowthPairCorr
  0.95KAGCX Kensington Dynamic GrowthPairCorr
  0.95KAGIX Kensington Dynamic GrowthPairCorr
  0.67FEMDX Franklin Emerging MarketPairCorr
  0.97CGRGX American Funds GrowthPairCorr
  0.85JIIOX Lifestyle Ii AggressivePairCorr
  0.92CPOAX Morgan Stanley MultiPairCorr
  0.89VSIAX Vanguard Small CapPairCorr
  0.99RYNHX Nova Fund ClassPairCorr
  0.68SNWAX Snow Capital SmallPairCorr
  0.81TBDAX Prudential JennisonPairCorr
  0.85GAB Gabelli Equity TrustPairCorr
  0.9VMGRX Vanguard Mid CapPairCorr
  0.92VAFAX Invesco American FraPairCorr
  0.9WESRX Teton Vertible SecuritiesPairCorr
  0.95VFTAX Vanguard Ftse SocialPairCorr
  0.9AMAJX Small Cap DividendPairCorr
  0.97CGQGX American Funds GrowthPairCorr
  0.83OASDX Oakhurst StrategicPairCorr

Moving against Kensington Mutual Fund

  0.56PFHCX Pacific Funds SmallPairCorr
  0.39ABRIX Invesco Balanced RiskPairCorr
  0.35PAUPX Pimco All AssetPairCorr
  0.35PAUIX Pimco All AssetPairCorr
  0.65NHS 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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