Kensington Managed Correlations

KAMIX Fund

USD 9.70 0.02 0.21%

The current 90-days correlation between Kensington Managed Income and Dividend Opportunities Fund is 0.23 (i.e., Modest 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 0.27 (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 gross domestic product.

Moving together with Kensington Mutual Fund

0.7	SAPEX	Spectrum Advisors	Pair Corr
0.68	SUNBX	Spectrum Unconstrained	Pair Corr
0.63	SVARX	Spectrum Low Volatility	Pair Corr
0.77	SFHYX	Hundredfold Select	Pair Corr
0.76	QRDTX	Quantified Rising	Pair Corr
0.7	QCGDX	Quantified Common Ground	Pair Corr
0.99	KAMAX	Kensington Managed Income	Pair Corr
0.99	KAMCX	Kensington Managed Income	Pair Corr
0.63	BSICX	Blackrock Strategic Opps	Pair Corr
0.67	BASIX	Blackrock Strategic Opps	Pair Corr
0.61	JSOCX	Jpmorgan Strategic Income	Pair Corr

Moving against Kensington Mutual Fund

0.39	XNXJX	Nuveen New Jersey	Pair Corr
0.37	XNBHX	Neuberger Berman Int	Pair Corr
0.35	XDSMX	Dreyfus Strategic	Pair Corr

Related Correlations Analysis

	FLDOX	ATESX	NWKEX	NWGPX	FLC	TBCUX	HOOSX	SCURX	SCUIX	SIHPX
FLDOX		-0.34	0.81	0.8	0.28	0.86	0.95	0.72	0.95	0.77	FLDOX
ATESX	-0.34		-0.47	-0.48	0.07	-0.46	-0.56	-0.41	-0.56	-0.41	ATESX
NWKEX	0.81	-0.47		1.0	0.5	0.7	0.8	0.5	0.8	0.56	NWKEX
NWGPX	0.8	-0.48	1.0		0.5	0.7	0.8	0.49	0.8	0.56	NWGPX
FLC	0.28	0.07	0.5	0.5		0.22	0.21	0.0	0.21	0.1	FLC
TBCUX	0.86	-0.46	0.7	0.7	0.22		0.87	0.6	0.87	0.62	TBCUX
HOOSX	0.95	-0.56	0.8	0.8	0.21	0.87		0.7	1.0	0.73	HOOSX
SCURX	0.72	-0.41	0.5	0.49	0.0	0.6	0.7		0.7	0.91	SCURX
SCUIX	0.95	-0.56	0.8	0.8	0.21	0.87	1.0	0.7		0.74	SCUIX
SIHPX	0.77	-0.41	0.56	0.56	0.1	0.62	0.73	0.91	0.74		SIHPX
	FLDOX	ATESX	NWKEX	NWGPX	FLC	TBCUX	HOOSX	SCURX	SCUIX	SIHPX

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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

NWGPX	+ 1.0	NWKEX
SCUIX	+ 1.0	HOOSX
HOOSX	+ 0.95	FLDOX
SCUIX	+ 0.95	FLDOX
SIHPX	+ 0.91	SCURX
HOOSX	+ 0.87	TBCUX

High negative correlations

SCUIX	- 0.56	ATESX
HOOSX	- 0.56	ATESX
NWGPX	- 0.48	ATESX
NWKEX	- 0.47	ATESX
TBCUX	- 0.46	ATESX
SIHPX	- 0.41	ATESX

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
FLDOX	0.37	0.00	(0.06)	0.08	0.36	(0.45)	0.72	(0.64)	3.03
ATESX	0.59	(0.11)	0.00	(0.06)	0.00	0.00	1.00	(1.64)	4.07
NWKEX	1.53	0.46	0.48	0.49	0.31	(2.17)	2.22	(1.47)	34.92
NWGPX	1.65	0.54	0.56	0.56	0.11	(2.44)	2.15	(1.49)	39.83
FLC	0.32	(0.01)	(0.19)	0.26	0.40	(0.32)	0.58	(0.68)	1.56
TBCUX	0.59	0.08	0.10	0.17	0.47	(0.70)	1.08	(1.06)	7.68
HOOSX	1.11	0.20	0.22	0.19	0.71	(1.28)	1.98	(1.77)	18.08
SCURX	0.82	0.11	0.02	(2.07)	0.93	(0.82)	1.73	(1.76)	5.06
SCUIX	1.10	0.20	0.22	0.19	0.71	(1.27)	1.93	(1.77)	17.73
SIHPX	0.11	0.00	(0.37)	0.11	0.00	(0.19)	0.20	(0.20)	0.81

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