If you have dyno run print out on your engine, that's's your best information. Set the clutch stall speed at peak torque. The torque is transferred to the rear axle, with maximum torque at the rear axle, you have maximum HP at the axle. It's really simple. Let me show you; torque X RPM / 5252.1 = HP. The torque can be measured at the engine, or at the axle, and while the clutch is slipping, although the torque is the same at both, the RPM is different.
Put a bathroom scale between the front of your kart frame in a strong wall. Start the engine, warm it up, floor it, read the scale and the RPM. Write it down. Adjust the clutch to slip more or less, do it again. Find the point in the RPM range where the torque reads the highest, that's the point where the HP is the highest.