Kensington Defender Correlations

Mutual Funds . USA . 
Fund . Kensington Defender Institutional
DFNDX Fund   10.33  0.05  0.48%   
The current 90-days correlation between Kensington Defender and Kensington Active Advantage is 0.37 (i.e., Weak 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

Good diversification

The correlation between Kensington Defender Institutio and DJI is -0.18 (i.e., Good 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

  0.94KADAX Kensington ActivePairCorr
  0.92KADCX Kensington ActivePairCorr
  0.93KADIX Kensington ActivePairCorr
  0.97KAGAX Kensington Dynamic GrowthPairCorr
  0.97KAGCX Kensington Dynamic GrowthPairCorr
  0.97KAGIX Kensington Dynamic GrowthPairCorr
  0.98RIRAX Capital Income BuilderPairCorr
  0.98RIREX Capital Income BuilderPairCorr
  0.98RIRCX Capital Income BuilderPairCorr
  0.98RIRFX Capital Income BuilderPairCorr
  0.98CIRCX Capital Income BuilderPairCorr
  0.98CIREX Capital Income BuilderPairCorr
  0.98RIRBX Capital Income BuilderPairCorr
  0.98CAIFX Capital Income BuilderPairCorr
  0.98CIRFX Capital Income BuilderPairCorr
  0.99CIRAX Capital Income BuilderPairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr
  0.98VTSMX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.96VITSX Vanguard Total StockPairCorr
  0.97VFINX Vanguard 500 IndexPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.97VGTSX Vanguard Total InterPairCorr
  0.97VTIAX Vanguard Total InterPairCorr
  0.89MVEIX Monteagle Select ValuePairCorr
  0.66INFXX Institutional FiduciaryPairCorr
  0.93WABACX WabacxPairCorr
  0.92MSACX Active InternationalPairCorr
  0.99FRTCX Franklin LifesmartPairCorr
  0.95BGGIX William Blair GlobalPairCorr
  0.97CTHRX Columbia Global TechPairCorr
  0.96QGIAX Pear Tree QualityPairCorr
  0.8XMSDX Morgan Stanley EmergingPairCorr
  0.96CHUSX Alger Global GrowthPairCorr
  0.96PNSIX T Rowe PricePairCorr
  0.86AEGSX Invesco European GrowthPairCorr
  0.92SFPIX Financial ServicesPairCorr

Related Correlations Analysis

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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.

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