Kensington Managed Correlations

KAMAX Fund

USD 9.92 0.03 0.30%

The current 90-days correlation between Kensington Managed Income and Spectrum Advisors Preferred is -0.06 (i.e., Good diversification). The correlation of Kensington Managed 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 Managed Correlation With Market

Modest diversification

The correlation between Kensington Managed Income and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kensington Managed Income 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 Managed Income. 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

0.61	QMLAX	Quantified Market Leaders	Pair Corr
0.82	SFHYX	Hundredfold Select	Pair Corr
0.77	QRDTX	Quantified Rising	Pair Corr
0.72	QSPMX	Quantified Pattern	Pair Corr
0.72	QCGDX	Quantified Common Ground	Pair Corr
0.89	KAMCX	Kensington Managed Income	Pair Corr
0.99	KAMIX	Kensington Managed Income	Pair Corr
0.61	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.62	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.72	FTYPX	Fidelity Freedom Index	Pair Corr
0.71	FFBTX	Fidelity Freedom Blend	Pair Corr

Moving against Kensington Mutual Fund

0.45	GAAVX	Gmo Alternative Allo	Pair Corr
0.32	GABFX	Gmo Asset Allocation	Pair Corr

Related Correlations Analysis

	SAPEX	OTRFX	OTRGX	SUNBX	QMLAX	QMLFX	SVARX	SFHYX	QRDTX	QALAX
SAPEX		0.19	0.19	0.37	0.5	0.59	0.2	0.69	0.69	0.72	SAPEX
OTRFX	0.19		1.0	0.82	-0.47	-0.48	0.95	0.26	-0.07	0.19	OTRFX
OTRGX	0.19	1.0		0.82	-0.48	-0.49	0.95	0.24	-0.09	0.19	OTRGX
SUNBX	0.37	0.82	0.82		-0.2	-0.24	0.81	0.6	0.24	0.3	SUNBX
QMLAX	0.5	-0.47	-0.48	-0.2		0.95	-0.34	0.6	0.88	0.65	QMLAX
QMLFX	0.59	-0.48	-0.49	-0.24	0.95		-0.36	0.55	0.81	0.6	QMLFX
SVARX	0.2	0.95	0.95	0.81	-0.34	-0.36		0.36	0.02	0.24	SVARX
SFHYX	0.69	0.26	0.24	0.6	0.6	0.55	0.36		0.84	0.63	SFHYX
QRDTX	0.69	-0.07	-0.09	0.24	0.88	0.81	0.02	0.84		0.79	QRDTX
QALAX	0.72	0.19	0.19	0.3	0.65	0.6	0.24	0.63	0.79		QALAX
	SAPEX	OTRFX	OTRGX	SUNBX	QMLAX	QMLFX	SVARX	SFHYX	QRDTX	QALAX

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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

OTRGX	+ 1.0	OTRFX
SVARX	+ 0.95	OTRFX
SVARX	+ 0.95	OTRGX
QMLFX	+ 0.95	QMLAX
QRDTX	+ 0.88	QMLAX
QRDTX	+ 0.84	SFHYX

High negative correlations

QMLFX	- 0.49	OTRGX
QMLAX	- 0.48	OTRGX
QMLFX	- 0.48	OTRFX
QMLAX	- 0.47	OTRFX
SVARX	- 0.36	QMLFX
SVARX	- 0.34	QMLAX

Risk-Adjusted Indicators

There is a big difference between Kensington Mutual Fund performing well and Kensington Managed 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 Managed'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
SAPEX	0.61	0.02	(0.10)	(0.65)	0.91	(0.60)	1.14	(1.58)	5.02
OTRFX	0.14	(0.02)	0.00	(0.12)	0.00	0.00	0.30	(0.33)	1.19
OTRGX	0.14	(0.02)	0.00	(0.15)	0.00	0.00	0.33	(0.39)	0.82
SUNBX	0.16	(0.01)	(0.43)	(0.05)	0.20	(0.21)	0.42	(0.37)	1.16
QMLAX	1.00	(0.05)	0.02	0.09	1.34	(1.06)	2.02	(2.01)	7.40
QMLFX	1.00	0.14	0.02	2.69	1.33	(1.05)	1.97	(2.13)	7.48
SVARX	0.11	(0.01)	(0.61)	(0.14)	0.14	(0.14)	0.25	(0.29)	0.98
SFHYX	0.22	0.00	(0.21)	0.10	0.27	(0.24)	0.48	(0.43)	1.75
QRDTX	0.71	(0.03)	(0.03)	0.08	0.77	(0.77)	1.42	(1.22)	3.78
QALAX	0.31	(0.03)	(0.22)	0.03	0.33	(0.43)	0.87	(0.65)	2.24

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