Kensington Defender Correlations

DFNDX Fund

10.34 0.24 2.27%

The current 90-days correlation between Kensington Defender and Kensington Active Advantage is -0.04 (i.e., Good diversification). The correlation of Kensington Defender 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 Defender Correlation With Market

Poor diversification

The correlation between Kensington Defender Institutio and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kensington Defender Institutio and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Kensington Defender Institutional. 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 unemployment.

Moving together with Kensington Mutual Fund

0.69	RIREX	Capital Income Builder	Pair Corr
0.67	RIRCX	Capital Income Builder	Pair Corr
0.65	CIRCX	Capital Income Builder	Pair Corr
0.68	CIREX	Capital Income Builder	Pair Corr
0.65	RIRBX	Capital Income Builder	Pair Corr
0.7	CAIFX	Capital Income Builder	Pair Corr
0.69	CIRFX	Capital Income Builder	Pair Corr
0.69	CIRAX	Capital Income Builder	Pair Corr

Moving against Kensington Mutual Fund

0.38	USPSX	Profunds Ultrashort Steady Growth	Pair Corr
0.52	UIPIX	Ultrashort Mid Cap Steady Growth	Pair Corr
0.38	USPIX	Profunds Ultrashort Steady Growth	Pair Corr

Related Correlations Analysis

	DFNDX	KADAX	KADCX	KADIX	KAGAX	KAGCX	KAGIX
DFNDX		0.28	0.47	0.45	0.22	0.22	0.22	DFNDX
KADAX	0.28		0.95	0.95	0.99	0.99	0.99	KADAX
KADCX	0.47	0.95		1.0	0.93	0.93	0.93	KADCX
KADIX	0.45	0.95	1.0		0.94	0.93	0.94	KADIX
KAGAX	0.22	0.99	0.93	0.94		1.0	1.0	KAGAX
KAGCX	0.22	0.99	0.93	0.93	1.0		1.0	KAGCX
KAGIX	0.22	0.99	0.93	0.94	1.0	1.0		KAGIX
	DFNDX	KADAX	KADCX	KADIX	KAGAX	KAGCX	KAGIX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Kensington Mutual Fund performing well and Kensington Defender 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 Defender'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
DFNDX	0.43	(0.04)	0.00	(0.05)	0.00	0.00	0.75	(0.84)	2.94
KADAX	0.27	0.05	0.09	1.74	0.17	(0.34)	0.59	(0.50)	2.08
KADCX	0.28	0.01	0.00	0.05	0.40	(0.32)	0.51	(0.60)	2.10
KADIX	0.29	0.02	0.01	0.06	0.38	(0.35)	0.60	(0.60)	2.08
KAGAX	0.45	0.10	0.08	3.00	0.49	(0.58)	1.16	(0.99)	4.32
KAGCX	0.45	0.10	0.09	2.81	0.49	(0.60)	1.18	(1.03)	4.41
KAGIX	0.44	0.10	0.09	2.49	0.49	(0.58)	1.15	(1.00)	4.38

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