Power Floating Correlations

FLOAX Fund

USD 9.57 0.01 0.10%

The current 90-days correlation between Power Floating Rate and Deutsche Health And is 0.06 (i.e., Significant diversification). 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

Poor diversification

The correlation between Power Floating Rate and DJI is 0.7 (i.e., 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

0.98	FLOCX	Power Floating Rate	Pair Corr
0.82	RNPBX	New Perspective	Pair Corr
0.86	RYVLX	Nasdaq 100 2x	Pair Corr
0.63	AWTAX	Allianzgi Global Water	Pair Corr
0.72	RWBEX	Capital World Growth	Pair Corr
0.78	FXAIX	Fidelity 500 Index	Pair Corr
0.7	VIMSX	Vanguard Mid Cap	Pair Corr
0.67	FPUKX	Fidelity Puritan	Pair Corr

Related Correlations Analysis

	THQ	GGHYX	RYHCX	SBHIX	SCHLX	DLHAX	XXGRX	SUHIX
THQ		0.47	0.9	0.64	0.86	0.74	-0.13	0.47	THQ
GGHYX	0.47		0.54	0.51	0.58	0.15	0.14	0.77	GGHYX
RYHCX	0.9	0.54		0.58	0.85	0.74	-0.24	0.44	RYHCX
SBHIX	0.64	0.51	0.58		0.6	0.38	0.53	0.37	SBHIX
SCHLX	0.86	0.58	0.85	0.6		0.73	-0.18	0.67	SCHLX
DLHAX	0.74	0.15	0.74	0.38	0.73		-0.3	0.27	DLHAX
XXGRX	-0.13	0.14	-0.24	0.53	-0.18	-0.3		0.03	XXGRX
SUHIX	0.47	0.77	0.44	0.37	0.67	0.27	0.03		SUHIX
	THQ	GGHYX	RYHCX	SBHIX	SCHLX	DLHAX	XXGRX	SUHIX

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

RYHCX	+ 0.9	THQ
SCHLX	+ 0.86	THQ
SCHLX	+ 0.85	RYHCX
SUHIX	+ 0.77	GGHYX
DLHAX	+ 0.74	THQ
DLHAX	+ 0.74	RYHCX

High negative correlations

XXGRX	- 0.3	DLHAX
XXGRX	- 0.24	RYHCX
XXGRX	- 0.18	SCHLX
XXGRX	- 0.13	THQ

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
THQ	0.77	0.08	0.05	0.18	0.90	(0.82)	1.90	(1.42)	5.79
GGHYX	0.65	0.01	(0.09)	0.00	0.65	(0.91)	1.19	(1.27)	7.14
RYHCX	0.70	0.09	0.03	(1.45)	0.62	(0.95)	1.98	(1.10)	4.37
SBHIX	0.68	0.05	0.01	0.18	0.74	(0.73)	1.57	(1.44)	4.10
SCHLX	0.76	0.06	0.06	0.15	0.60	(0.93)	1.93	(1.15)	7.36
DLHAX	0.94	0.22	0.20	1.44	0.58	(1.22)	2.06	(1.46)	10.20
XXGRX	0.40	(0.02)	(0.11)	0.02	0.45	(0.54)	1.01	(0.75)	2.54
SUHIX	0.72	0.05	(0.03)	(0.39)	0.68	(0.87)	1.63	(1.14)	7.01

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