Kensington Active Correlations

Mutual Funds . USA . 
Fund . Kensington Active Advantage
KADAX Fund  USD 10.11  0.02  0.20%   
The current 90-days correlation between Kensington Active and Kensington Defender Institutional is -0.04 (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

Average diversification

The correlation between Kensington Active Advantage and DJI is 0.14 (i.e., Average 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 nation.

Moving together with Kensington Mutual Fund

  0.95KADCX Kensington ActivePairCorr
  0.95KADIX Kensington ActivePairCorr
  0.99KAGAX Kensington Dynamic GrowthPairCorr
  0.99KAGCX Kensington Dynamic GrowthPairCorr
  0.99KAGIX Kensington Dynamic GrowthPairCorr
  0.87FEMDX Franklin Emerging MarketPairCorr
  0.92CGRGX American Funds GrowthPairCorr
  0.91JIIOX Lifestyle Ii AggressivePairCorr
  0.92CPOAX Morgan Stanley MultiPairCorr
  0.81VSIAX Vanguard Small CapPairCorr
  0.92RYNHX Nova Fund ClassPairCorr
  0.68CICAX Investment Of AmericaPairCorr
  0.73SNWAX Snow Capital SmallPairCorr
  0.75TBDAX Prudential JennisonPairCorr
  0.79GAB Gabelli Equity TrustPairCorr
  0.84VMGRX Vanguard Mid CapPairCorr
  0.86VAFAX Invesco American FraPairCorr
  0.91WESRX Teton Vertible SecuritiesPairCorr
  0.91MITBX Massachusetts InvestorsPairCorr
  0.96VFTAX Vanguard Ftse SocialPairCorr
  0.83AMAJX Small Cap DividendPairCorr
  0.85CGQGX American Funds GrowthPairCorr
  0.99OASDX Oakhurst StrategicPairCorr

Moving against Kensington Mutual Fund

  0.53ABRIX Invesco Balanced RiskPairCorr
  0.43PAUPX Pimco All AssetPairCorr
  0.43PAUIX Pimco All AssetPairCorr
  0.33PASCX All Asset FundPairCorr
  0.31PATRX Pimco All AssetPairCorr
  0.7NHS Neuberger Berman HighPairCorr
  0.54PFHCX Pacific Funds SmallPairCorr

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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