Kensington Dynamic Correlations

Mutual Funds . USA . 
Fund . Kensington Dynamic Growth
KAGIX Fund  USD 11.75  0.01  0.09%   
The current 90-days correlation between Kensington Dynamic Growth and Kensington Defender Institutional is 0.65 (i.e., Poor 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

Poor diversification

The correlation between Kensington Dynamic Growth and DJI is 0.63 (i.e., Poor 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 gross domestic product.

Moving together with Kensington Mutual Fund

  0.92KADAX Kensington ActivePairCorr
  0.93KADCX Kensington ActivePairCorr
  0.94KADIX Kensington ActivePairCorr
  1.0KAGAX Kensington Dynamic GrowthPairCorr
  1.0KAGCX Kensington Dynamic GrowthPairCorr
  0.93VTSAX Vanguard Total StockPairCorr
  0.94VFIAX Vanguard 500 IndexPairCorr
  0.93VTSMX Vanguard Total StockPairCorr
  0.93VSMPX Vanguard Total StockPairCorr
  0.93VSTSX Vanguard Total StockPairCorr
  0.93VITSX Vanguard Total StockPairCorr
  0.94VFINX Vanguard 500 IndexPairCorr
  0.94VFFSX Vanguard 500 IndexPairCorr
  0.7VISVX Vanguard Small CapPairCorr
  0.88VBIAX Vanguard Balanced IndexPairCorr
  0.96ADNCX American Beacon ArkPairCorr
  0.94AMEIX Equity GrowthPairCorr
  0.74QRSVX Queens Road SmallPairCorr
  0.97MMDEX Praxis Growth IndexPairCorr

Moving against Kensington Mutual Fund

  0.56ABRIX Invesco Balanced RiskPairCorr
  0.45PAUPX Pimco All AssetPairCorr
  0.45PAUIX Pimco All AssetPairCorr
  0.35PASCX All Asset FundPairCorr
  0.32PATRX Pimco All AssetPairCorr
  0.67VGTSX Vanguard Total InterPairCorr
  0.67VTIAX Vanguard Total InterPairCorr
  0.64PCEMX Pace InternationalPairCorr

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 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.

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