Power Floating Correlations

FLOTX Fund

USD 9.23 0.02 0.22%

The current 90-days correlation between Power Floating Rate and Power Dividend Index is 0.23 (i.e., Modest 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 0.76 (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 persons.

Moving together with Power Mutual Fund

0.71	MOJCX	Power Momentum Index	Pair Corr
0.71	MOJAX	Power Momentum Index	Pair Corr
0.71	MOJOX	Power Momentum Index	Pair Corr
0.62	GTAIX	Power Global Tactical	Pair Corr
0.62	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.73	FFBTX	Fidelity Freedom Blend	Pair Corr
0.65	GAAVX	Gmo Alternative Allo	Pair Corr
0.75	GQLOX	Gmo Quality Fund	Pair Corr
0.83	GHVIX	Gmo High Yield	Pair Corr
0.62	GMCQX	Gmo Equity Allocation	Pair Corr
0.76	PABCX	Prudential Balanced	Pair Corr
0.75	SSAWX	State Street Target	Pair Corr
0.8	SSHVX	Sound Shore Fund	Pair Corr
0.82	GCTAX	Goldman Sachs Tax	Pair Corr
0.68	GCFRX	Nationwide Investor	Pair Corr
0.76	DGINX	Dgi Balanced	Pair Corr
0.83	MKSPX	Blackrock Advantage Total	Pair Corr
0.79	VFIAX	Vanguard 500 Index	Pair Corr

Moving against Power Mutual Fund

0.48

GABFX

Gmo Asset Allocation

Pair Corr

Related Correlations Analysis

	MOJCX	MOJAX	MOJOX	GTAAX	GTAIX	PWDAX
MOJCX		1.0	1.0	0.65	0.9	0.86	MOJCX
MOJAX	1.0		1.0	0.66	0.9	0.87	MOJAX
MOJOX	1.0	1.0		0.66	0.91	0.87	MOJOX
GTAAX	0.65	0.66	0.66		0.73	0.7	GTAAX
GTAIX	0.9	0.9	0.91	0.73		0.98	GTAIX
PWDAX	0.86	0.87	0.87	0.7	0.98		PWDAX
	MOJCX	MOJAX	MOJOX	GTAAX	GTAIX	PWDAX

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
MOJCX	1.79	0.80	0.54	0.96	0.60	(2.23)	2.59	(2.81)	44.60
MOJAX	1.70	0.73	0.51	0.85	0.68	(2.06)	2.59	(2.78)	39.84
MOJOX	1.68	0.71	0.49	0.85	0.69	(2.07)	2.52	(2.87)	38.48
GTAAX	0.42	0.13	0.11	(1.48)	0.26	(0.50)	0.90	(0.89)	2.84
GTAIX	0.43	0.06	0.05	0.17	0.36	(0.49)	0.87	(0.91)	2.93
PWDAX	0.61	0.14	0.19	0.24	0.43	(0.75)	1.47	(0.95)	3.06

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