Power Floating Correlations

Mutual Funds . USA . 
Fund . Power Floating Rate
FLOCX Fund  USD 9.13  0.01  0.11%   
The current 90-days correlation between Power Floating Rate and Vanguard Diversified Equity is 0.55 (i.e., Very weak 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 0.74 (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 services.

Moving together with Power Mutual Fund

  0.64GLACX Power Global TacticalPairCorr
  0.97FLOAX Power Floating RatePairCorr
  0.75BSICX Blackrock Strategic OppsPairCorr
  0.75BASIX Blackrock Strategic OppsPairCorr
  0.65BSIIX Blackrock StrategicPairCorr
  0.7BSIKX Blackrock StrategicPairCorr
  0.68JSORX Jpmorgan Strategic IncomePairCorr
  0.63PMZNX Pimco Mortgage OpporPairCorr
  0.69PMZCX Pimco Mortgage OpporPairCorr
  0.61PMZAX Pimco Mortgage OpporPairCorr
  0.68JSOZX Jpmorgan Strategic IncomePairCorr
  0.72JSOCX Jpmorgan Strategic IncomePairCorr
  0.7BRUFX Bruce Fund BrucePairCorr
  0.74SPGSX State Street PremierPairCorr
  0.73PRCCX Putnam Convertible IncmPairCorr
  0.8MPGFX Mairs Power GrowthPairCorr
  0.8FPCGX Fort Pitt CapitalPairCorr
  0.78GAONX Jpmorgan Global AlloPairCorr
  0.71CCBTX American Funds 2015PairCorr
  0.79VPMCX Vanguard PrimecapPairCorr
  0.79OPMNX Oppenheimer Main StrtPairCorr
  0.75PACEX T Rowe PricePairCorr
  0.87JAGTX Janus Global TechnologyPairCorr
  0.75OPGSX Oppenheimer Gold SpecPairCorr
  0.72SSVIX Columbia Select SmallerPairCorr
  0.7LIJIX Blackrock Lifepath IdxPairCorr
  0.8NRSCX Nexpoint Real EstatePairCorr
  0.76WMCVX Wasatch Small CapPairCorr
  0.82RLBCX American BalancedPairCorr
  0.72SWYMX Schwab Target 2050PairCorr
  0.7GRSPX Greenspring Fund RetailPairCorr

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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