Power Floating Correlations

FLOCX Fund

USD 9.05 0.01 0.11%

The current 90-days correlation between Power Floating Rate and Vanguard Market Neutral is -0.12 (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

Average diversification

The correlation between Power Floating Rate and DJI is 0.13 (i.e., Average 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

0.98

FLOAX

Power Floating Rate

Pair Corr

Moving against Power Mutual Fund

0.4	PMZAX	Pimco Mortgage Oppor	Pair Corr
0.39	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.39	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.38	JSORX	Jpmorgan Strategic Income	Pair Corr
0.37	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.35	MGGYX	Mirova Global Green	Pair Corr
0.32	GLACX	Power Global Tactical	Pair Corr
0.67	VLGSX	Vanguard Long Term	Pair Corr
0.66	PJEQX	Prudential Real Estate	Pair Corr
0.35	HLDAX	Hartford Emerging	Pair Corr
0.34	HLDCX	Hartford Emerging	Pair Corr
0.34	SEKAX	Deutsche Emerging Markets	Pair Corr
0.33	HLDIX	Hartford Emerging	Pair Corr
0.33	HLDTX	Hartford Emerging	Pair Corr
0.71	IPAYX	Integrity Dividend Summit	Pair Corr
0.47	RYESX	Energy Services	Pair Corr
0.45	DNJYX	Dreyfus New Jersey	Pair Corr
0.44	MMNWX	Mmnwx	Pair Corr

Related Correlations Analysis

	GLACX	FLOCX	FLOAX	VIPSX	NSCOX	MSDEX	PGRNX	PQSAX	FKQTX	VMNIX
GLACX		-0.32	-0.17	0.58	0.9	0.67	0.97	0.9	0.95	0.28	GLACX
FLOCX	-0.32		0.98	-0.71	-0.49	0.27	-0.26	-0.06	-0.47	-0.82	FLOCX
FLOAX	-0.17	0.98		-0.65	-0.35	0.41	-0.12	0.1	-0.32	-0.81	FLOAX
VIPSX	0.58	-0.71	-0.65		0.75	0.12	0.63	0.38	0.72	0.77	VIPSX
NSCOX	0.9	-0.49	-0.35	0.75		0.53	0.91	0.78	0.99	0.48	NSCOX
MSDEX	0.67	0.27	0.41	0.12	0.53		0.73	0.82	0.58	-0.19	MSDEX
PGRNX	0.97	-0.26	-0.12	0.63	0.91	0.73		0.86	0.93	0.27	PGRNX
PQSAX	0.9	-0.06	0.1	0.38	0.78	0.82	0.86		0.84	0.08	PQSAX
FKQTX	0.95	-0.47	-0.32	0.72	0.99	0.58	0.93	0.84		0.44	FKQTX
VMNIX	0.28	-0.82	-0.81	0.77	0.48	-0.19	0.27	0.08	0.44		VMNIX
	GLACX	FLOCX	FLOAX	VIPSX	NSCOX	MSDEX	PGRNX	PQSAX	FKQTX	VMNIX

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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

FKQTX	+ 0.99	NSCOX
FLOAX	+ 0.98	FLOCX
PGRNX	+ 0.97	GLACX
FKQTX	+ 0.95	GLACX
FKQTX	+ 0.93	PGRNX
PGRNX	+ 0.91	NSCOX

High negative correlations

VMNIX	- 0.82	FLOCX
VMNIX	- 0.81	FLOAX
VIPSX	- 0.71	FLOCX
VIPSX	- 0.65	FLOAX
NSCOX	- 0.49	FLOCX
FKQTX	- 0.47	FLOCX

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
GLACX	0.43	0.08	0.07	(1.56)	0.40	(0.50)	0.88	(0.92)	2.89
FLOCX	0.08	(0.02)	0.00	1.51	0.00	0.00	0.11	(0.22)	0.55
FLOAX	0.07	(0.02)	0.00	3.51	0.00	0.00	0.10	(0.21)	0.52
VIPSX	0.14	0.00	(0.17)	(0.31)	0.08	(0.18)	0.26	(0.26)	0.68
NSCOX	0.08	0.01	(0.11)	(1.22)	0.00	(0.14)	0.20	(0.20)	0.61
MSDEX	0.64	0.07	0.03	(0.49)	0.98	(0.61)	1.24	(1.55)	5.57
PGRNX	0.67	0.08	0.04	(0.36)	0.79	(0.70)	1.23	(1.34)	3.38
PQSAX	0.80	0.22	0.22	(1.90)	0.54	(1.04)	2.24	(1.38)	6.96
FKQTX	0.08	0.01	(0.09)	2.33	0.00	(0.14)	0.18	(0.18)	0.62
VMNIX	0.41	0.08	0.09	0.77	0.35	(0.46)	0.89	(0.89)	2.65

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