Power Floating Correlations

FLOAX Fund

USD 9.58 0.02 0.21%

The correlation of Power Floating 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.

Power Floating Correlation With Market

Very poor diversification

The correlation between Power Floating Rate and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Power Floating Rate. 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 Power Mutual Fund

0.87	GLACX	Power Global Tactical	Pair Corr
0.99	FLOCX	Power Floating Rate	Pair Corr
0.89	BSICX	Blackrock Strategic Opps	Pair Corr
0.9	BASIX	Blackrock Strategic Opps	Pair Corr
0.89	BSIIX	Blackrock Strategic	Pair Corr
0.9	BSIKX	Blackrock Strategic	Pair Corr
0.97	JSORX	Jpmorgan Strategic Income	Pair Corr
0.93	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.91	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.91	PMZAX	Pimco Mortgage Oppor	Pair Corr
0.97	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.98	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.95	EKWDX	Wells Fargo Advantage	Pair Corr
0.84	PMPIX	Precious Metals Ultr	Pair Corr
0.84	PMPSX	Precious Metals Ultr	Pair Corr
0.95	DAMDX	Dunham Monthly Distr	Pair Corr
0.8	WEIMX	Teton Westwood Mighty	Pair Corr
0.91	JFFCX	Jpmorgan Smartretirement	Pair Corr
0.78	BITSX	Blackrock Total Stock	Pair Corr
0.88	DFISX	International Small Pany	Pair Corr
0.84	CBMZX	Columbia Capital All	Pair Corr
0.9	PLKTX	Principal Lifetime Hybrid	Pair Corr
0.9	THRLX	Thornburg Limited Term	Pair Corr
0.89	CWSWX	Carillon Chartwell Small	Pair Corr
0.92	EAGCX	Eaton Vance Atlant	Pair Corr
0.92	SBMCX	Moderate Balanced	Pair Corr
0.91	MOGLX	Gabelli Media Mogul	Pair Corr
0.71	MKINX	Mainstay Tax Free	Pair Corr
0.91	PTLCX	Low Duration	Pair Corr
0.92	FSILX	Federated Short Term	Pair Corr
0.9	SBRAX	Segall Bryant Hamill	Pair Corr
0.86	JSGCX	John Hancock Strategic	Pair Corr
0.84	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.9	RNCCX	American Funds Income	Pair Corr
0.9	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.88	DRILX	Dimensional 2060 Target	Pair Corr
0.86	RBOFX	Intermediate Bond	Pair Corr
0.86	CGVYX	American Funds Global	Pair Corr

Moving against Power Mutual Fund

0.31

CISGX

Touchstone Sands Capital

Pair Corr

Related Correlations Analysis

	GSSSX	WMCVX	QDARX	DTICX	PASVX	JDJRX	FZABX
GSSSX		0.89	0.82	0.83	0.99	0.03	0.97	GSSSX
WMCVX	0.89		0.88	0.75	0.92	0.32	0.92	WMCVX
QDARX	0.82	0.88		0.69	0.86	0.4	0.86	QDARX
DTICX	0.83	0.75	0.69		0.84	-0.12	0.82	DTICX
PASVX	0.99	0.92	0.86	0.84		0.07	0.97	PASVX
JDJRX	0.03	0.32	0.4	-0.12	0.07		0.15	JDJRX
FZABX	0.97	0.92	0.86	0.82	0.97	0.15		FZABX
	GSSSX	WMCVX	QDARX	DTICX	PASVX	JDJRX	FZABX

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

PASVX	+ 0.99	GSSSX
FZABX	+ 0.97	GSSSX
FZABX	+ 0.97	PASVX
PASVX	+ 0.92	WMCVX
FZABX	+ 0.92	WMCVX
WMCVX	+ 0.89	GSSSX

High negative correlations

JDJRX

- 0.12

DTICX

Risk-Adjusted Indicators

There is a big difference between Power Mutual Fund performing well and Power Floating 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 Power Floating'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
GSSSX	1.41	0.52	0.59	0.26	0.00	(1.85)	2.30	(1.62)	34.40
WMCVX	0.98	0.08	0.09	0.10	0.87	(1.15)	2.32	(1.80)	8.98
QDARX	0.06	0.01	(0.20)	1.51	0.00	(0.11)	0.16	(0.08)	0.31
DTICX	0.05	0.00	(0.23)	(0.14)	0.00	(0.15)	0.13	(0.13)	0.38
PASVX	0.96	0.21	0.25	0.18	0.60	(1.17)	2.24	(1.48)	14.45
JDJRX	0.37	(0.02)	(0.09)	(0.03)	0.43	(0.49)	0.94	(0.81)	2.24
FZABX	0.79	0.29	0.31	0.54	0.40	(0.93)	1.39	(1.42)	14.27

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