Kensington Dynamic Correlations

KAGAX Fund

USD 13.62 0.09 0.67%

The current 90-days correlation between Kensington Dynamic Growth and Angel Oak Financial is 0.21 (i.e., Modest diversification). The correlation of Kensington Dynamic 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 Dynamic Correlation With Market

Poor diversification

The correlation between Kensington Dynamic Growth and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kensington Dynamic Growth 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 Dynamic Growth. 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

0.98	DFNDX	Kensington Defender	Pair Corr
0.95	KADAX	Kensington Active Downward Rally	Pair Corr
0.95	KADCX	Kensington Active Downward Rally	Pair Corr
0.95	KADIX	Kensington Active Downward Rally	Pair Corr
1.0	KAGCX	Kensington Dynamic Growth	Pair Corr
1.0	KAGIX	Kensington Dynamic Growth	Pair Corr
0.94	PAALX	All Asset Fund	Pair Corr
0.94	PATRX	Pimco All Asset	Pair Corr
0.94	PAAIX	All Asset Fund	Pair Corr
0.94	PALPX	Pimco All Asset	Pair Corr
0.9	PASAX	All Asset Fund	Pair Corr
0.94	PASCX	All Asset Fund	Pair Corr
0.94	PAANX	Pimco All Asset	Pair Corr
0.91	PAUPX	Pimco All Asset	Pair Corr
0.91	PAUIX	Pimco All Asset	Pair Corr
0.98	VSTSX	Vanguard Total Stock	Pair Corr
0.98	VSMPX	Vanguard Total Stock	Pair Corr
0.98	VITSX	Vanguard Total Stock	Pair Corr
0.98	VFFSX	Vanguard 500 Index	Pair Corr
0.98	VFIAX	Vanguard 500 Index	Pair Corr
0.96	VTISX	Vanguard Total Inter	Pair Corr
0.96	VTSNX	Vanguard Total Inter	Pair Corr
0.96	VTPSX	Vanguard Total Inter	Pair Corr
0.98	VINIX	Vanguard Institutional	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.8	AAAQX	Deutsche Real Assets	Pair Corr
0.94	MOORX	Massmutual Premier Small	Pair Corr
0.93	VVPLX	Vulcan Value Partners	Pair Corr
0.81	BGY	Blackrock International	Pair Corr
0.97	NWALX	Nationwide Bny Mellon	Pair Corr
0.83	MMCFX	Amg Managers Emerging Steady Growth	Pair Corr
0.83	RAAIX	Altegrisaaca Opportunistic	Pair Corr
0.98	PGWAX	Allianzgi Focused Growth	Pair Corr
0.97	VSRAX	Invesco Small Cap	Pair Corr
0.96	FISMX	Fidelity International	Pair Corr
0.95	TNMRX	1290 Multi Alternative	Pair Corr
0.98	VFINX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	XFINX	MSVIX	MCBXX	FIDAX	FIKBX	FTIXX	IAAEX
XFINX		-0.49	-0.31	-0.43	-0.45	-0.19	-0.47	XFINX
MSVIX	-0.49		0.75	0.97	0.99	0.7	0.99	MSVIX
MCBXX	-0.31	0.75		0.81	0.78	0.83	0.74	MCBXX
FIDAX	-0.43	0.97	0.81		0.99	0.75	0.96	FIDAX
FIKBX	-0.45	0.99	0.78	0.99		0.72	0.98	FIKBX
FTIXX	-0.19	0.7	0.83	0.75	0.72		0.7	FTIXX
IAAEX	-0.47	0.99	0.74	0.96	0.98	0.7		IAAEX
	XFINX	MSVIX	MCBXX	FIDAX	FIKBX	FTIXX	IAAEX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FIKBX	+ 0.99	MSVIX
IAAEX	+ 0.99	MSVIX
FIKBX	+ 0.99	FIDAX
IAAEX	+ 0.98	FIKBX
FIDAX	+ 0.97	MSVIX
IAAEX	+ 0.96	FIDAX

High negative correlations

MSVIX	- 0.49	XFINX
IAAEX	- 0.47	XFINX
FIKBX	- 0.45	XFINX
FIDAX	- 0.43	XFINX
MCBXX	- 0.31	XFINX
FTIXX	- 0.19	XFINX

Risk-Adjusted Indicators

There is a big difference between Kensington Mutual Fund performing well and Kensington Dynamic 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 Dynamic'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
XFINX	0.41	(0.03)	0.00	2.26	0.00	0.00	0.77	(1.41)	4.64
MSVIX	0.80	0.09	0.08	0.22	0.77	(0.93)	2.01	(1.73)	5.72
MCBXX	0.03	0.00	0.00	1.43	0.00	0.00	0.00	0.00	1.01
FIDAX	0.72	0.08	0.07	0.22	0.73	(0.78)	1.86	(1.82)	5.18
FIKBX	0.80	0.12	0.11	0.25	0.71	(0.87)	2.01	(1.79)	5.93
FTIXX	0.03	0.01	0.00	(3.32)	0.00	0.00	0.00	0.00	1.01
IAAEX	0.69	0.02	0.00	0.16	0.66	(0.83)	1.97	(1.27)	4.55

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