Kensington Dynamic Correlations

KAGCX Fund

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The current 90-days correlation between Kensington Dynamic Growth and Principal Lifetime Hybrid is 0.04 (i.e., Significant diversification). The correlation of Kensington Dynamic 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 Dynamic Correlation With Market

Significant diversification

The correlation between Kensington Dynamic Growth and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kensington Dynamic Growth 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 Dynamic Growth. 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

1.0	KAGAX	Kensington Dynamic Growth	Pair Corr
1.0	KAGIX	Kensington Dynamic Growth	Pair Corr

Moving against Kensington Mutual Fund

0.38	GPMFX	Guidepath Managed Futures	Pair Corr
0.36	SHYMX	Stet Short Duration	Pair Corr
0.36	MSHYX	High Yield Portfolio	Pair Corr

Related Correlations Analysis

	PHTTX	QDARX	CDBCX	DLTZX	OIDAX	FZABX	LIGFX
PHTTX		0.26	0.35	0.35	0.73	0.65	0.91	PHTTX
QDARX	0.26		0.9	0.87	0.67	0.5	0.34	QDARX
CDBCX	0.35	0.9		0.91	0.66	0.57	0.45	CDBCX
DLTZX	0.35	0.87	0.91		0.63	0.6	0.38	DLTZX
OIDAX	0.73	0.67	0.66	0.63		0.69	0.84	OIDAX
FZABX	0.65	0.5	0.57	0.6	0.69		0.57	FZABX
LIGFX	0.91	0.34	0.45	0.38	0.84	0.57		LIGFX
	PHTTX	QDARX	CDBCX	DLTZX	OIDAX	FZABX	LIGFX

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Risk-Adjusted Indicators

There is a big difference between Kensington Mutual Fund performing well and Kensington Dynamic 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 Dynamic'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
PHTTX	0.33	0.00	0.00	(0.01)	0.42	(0.33)	0.67	(0.58)	1.95
QDARX	0.09	0.03	0.32	(4.43)	0.00	(0.13)	0.25	(0.08)	0.49
CDBCX	0.24	0.02	0.09	(0.49)	0.17	(0.30)	0.56	(0.44)	1.34
DLTZX	0.09	0.01	0.10	2.68	0.00	(0.18)	0.26	(0.13)	0.64
OIDAX	0.66	0.05	0.06	(0.35)	0.89	(0.63)	1.42	(1.13)	5.03
FZABX	0.72	0.10	0.10	0.14	0.94	(0.72)	1.45	(1.37)	6.16
LIGFX	0.31	0.01	0.04	(0.17)	0.33	(0.34)	0.55	(0.55)	1.75

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