Kensington Active Correlations

Mutual Funds . USA . 
Fund . Kensington Active Advantage
KADCX Fund  USD 10.51  0.67  6.81%   
The current 90-days correlation between Kensington Active and Kensington Defender Institutional is 0.38 (i.e., Weak 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

Weak diversification

The correlation between Kensington Active Advantage and DJI is 0.36 (i.e., Weak 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 main economic indicators.

Moving together with Kensington Mutual Fund

  0.93DFNDX Kensington DefenderPairCorr
  1.0KADAX Kensington Active Downward RallyPairCorr
  1.0KADIX Kensington ActivePairCorr
  0.95KAGAX Kensington Dynamic GrowthPairCorr
  0.95KAGCX Kensington Dynamic GrowthPairCorr
  0.95KAGIX Kensington Dynamic GrowthPairCorr
  0.91PAALX All Asset FundPairCorr
  0.91PATRX Pimco All AssetPairCorr
  0.91PAAIX All Asset FundPairCorr
  0.91PALPX Pimco All AssetPairCorr
  0.87PASAX All Asset FundPairCorr
  0.91PASCX All Asset FundPairCorr
  0.91PAANX Pimco All AssetPairCorr
  0.89PAUPX Pimco All AssetPairCorr
  0.89PAUIX Pimco All AssetPairCorr
  0.89PFN Pimco Income StrategyPairCorr
  0.89CIF Mfs Intermediate HighPairCorr
  0.69NXJ Nuveen New JerseyPairCorr
  0.85PCF Putnam High IncomePairCorr
  0.65TMBTX Transamerica IntermediatePairCorr
  0.92ICMBX Intrepid CapitalPairCorr
  0.66GCFUX Goldman Sachs EPairCorr
  0.91TEFQX Firsthand TechnologyPairCorr
  0.88FCENX Franklin InternationalPairCorr
  0.92PRIJX T Rowe PricePairCorr
  0.93MDAAX Mainstay Moderate EtfPairCorr
  0.94CDDYX Columbia Dividend IncomePairCorr
  0.86RMBMX Rmb Smid CapPairCorr
  0.91YOVIX Yorktown Small CapPairCorr
  0.94FWGIX Capital World GrowthPairCorr
  0.91COICX Calvert InternationalPairCorr
  0.78POSAX Global Real EstatePairCorr
  0.78LNGZX Columbia Greater China Steady GrowthPairCorr
  0.92MMIUX Massmutual SelectPairCorr

Moving against Kensington Mutual Fund

  0.45XDSMX Dreyfus StrategicPairCorr
  0.51XNBHX Neuberger Berman IntPairCorr
  0.85GPSCX Victory Rs 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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