Kensington Active Correlations

Mutual Funds . USA . 
Fund . Kensington Active Advantage
KADIX Fund  USD 10.60  0.01  0.09%   
The current 90-days correlation between Kensington Active and Kensington Defender Institutional is -0.12 (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

Significant diversification

The correlation between Kensington Active Advantage and DJI is 0.01 (i.e., Significant 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 gross domestic product.

Moving together with Kensington Mutual Fund

  0.93DFNDX Kensington DefenderPairCorr
  0.9KADAX Kensington ActivePairCorr
  1.0KADCX Kensington ActivePairCorr
  0.95KAGAX Kensington Dynamic GrowthPairCorr
  0.95KAGCX Kensington Dynamic GrowthPairCorr
  0.94KAGIX Kensington Dynamic GrowthPairCorr
  0.62PAANX Pimco All AssetPairCorr
  0.89PAUIX Pimco All AssetPairCorr
  0.89PFN Pimco Income StrategyPairCorr
  0.89CIF Mfs Intermediate HighPairCorr
  0.82PCF Putnam High IncomePairCorr
  0.65TMBTX Transamerica IntermediatePairCorr
  0.93ICMBX Intrepid CapitalPairCorr
  0.91TEFQX Firsthand TechnologyPairCorr
  0.88FCENX Franklin InternationalPairCorr
  0.64MDAAX Mainstay Moderate EtfPairCorr
  0.65CDDYX Columbia Dividend IncomePairCorr
  0.86RMBMX Rmb Smid CapPairCorr
  0.94FWGIX Capital World GrowthPairCorr
  0.68COICX Calvert InternationalPairCorr
  0.91MMIUX Massmutual SelectPairCorr
  0.93DSIBX Dreyfus Short IntermPairCorr

Moving against Kensington Mutual Fund

  0.58XDSMX Dreyfus StrategicPairCorr
  0.56XNBHX Neuberger Berman IntPairCorr
  0.83GPSCX 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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