Power Floating Correlations

Mutual Funds . USA . 
Fund . Power Floating Rate
FLOCX Fund  USD 9.19  0.01  0.11%   
The current 90-days correlation between Power Floating Rate and Eip Growth And is -0.11 (i.e., Good 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

Very weak diversification

The correlation between Power Floating Rate and DJI is 0.59 (i.e., Very weak 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 unemployment.

Moving together with Power Mutual Fund

  0.95GLACX Power Global TacticalPairCorr
  0.99FLOAX Power Floating RatePairCorr
  0.86BSICX Blackrock Strategic OppsPairCorr
  0.88BASIX Blackrock Strategic OppsPairCorr
  0.9BSIIX Blackrock StrategicPairCorr
  0.89BSIKX Blackrock StrategicPairCorr
  0.98JSORX Jpmorgan Strategic IncomePairCorr
  0.92PMZNX Pimco Mortgage OpporPairCorr
  0.9PMZCX Pimco Mortgage OpporPairCorr
  0.91PMZAX Pimco Mortgage OpporPairCorr
  0.98JSOZX Jpmorgan Strategic IncomePairCorr
  0.98JSOCX Jpmorgan Strategic IncomePairCorr
  0.75SMPIX Semiconductor Ultrasector Downward RallyPairCorr
  0.79SMPSX Semiconductor Ultrasector Downward RallyPairCorr
  0.84RMQAX Monthly RebalancePairCorr
  0.85RMQHX Monthly RebalancePairCorr
  0.84UJPIX Ultrajapan ProfundPairCorr
  0.86PMPIX Precious Metals Ultr Steady GrowthPairCorr
  0.86PMPSX Precious Metals Ultr Steady GrowthPairCorr
  0.9OSIYX Oppenheimer StrategicPairCorr
  0.79FSPTX Technology PortfolioPairCorr
  0.9FFFFX Fidelity Freedom 2040PairCorr
  0.91DIFFX Mfs Diversified IncomePairCorr
  0.84AGTHX Growth FundPairCorr
  0.89ODIYX Oppenheimer DiscoveryPairCorr
  0.86FFBPX Fidelity Freedom BlendPairCorr
  0.83FSELX Fidelity Select SemiPairCorr
  0.92BXHCX Barings High YieldPairCorr
  0.83OIDCX Oppenheimer InternationalPairCorr
  0.88OGLYX Oppenheimer GlobalPairCorr
  0.87BASVX Professionally ManagedPairCorr
  0.9DTGCX Dreyfus Technology GrowthPairCorr
  0.79MXFRX Great West PutnamPairCorr
  0.87RMEAX Aspiriant Risk ManagedPairCorr

Moving against Power Mutual Fund

  0.76RMQCX Monthly RebalancePairCorr
  0.71UJPSX Ultrajapan ProfundPairCorr

Related Correlations Analysis


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.

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