Power Floating Correlations

Mutual Funds . USA . 
Fund . Power Floating Rate
FLOTX Fund  USD 9.29  0.01  0.11%   
The current 90-days correlation between Power Floating Rate and Deutsche Multi Asset Servative is 0.1 (i.e., Average 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 0.71 (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 producer price index.

Moving together with Power Mutual Fund

  0.92BSICX Blackrock Strategic OppsPairCorr
  0.91BASIX Blackrock Strategic OppsPairCorr
  0.92BSIIX Blackrock StrategicPairCorr
  0.92BSIKX Blackrock StrategicPairCorr
  0.91JSORX Jpmorgan Strategic IncomePairCorr
  0.9PMZNX Pimco Mortgage OpporPairCorr
  0.89PMZCX Pimco Mortgage OpporPairCorr
  0.88PMZAX Pimco Mortgage OpporPairCorr
  0.91JSOZX Jpmorgan Strategic IncomePairCorr
  0.92JSOCX Jpmorgan Strategic IncomePairCorr
  0.63VSTSX Vanguard Total StockPairCorr
  0.69VSMPX Vanguard Total StockPairCorr
  0.69VITSX Vanguard Total StockPairCorr
  0.64VFIAX Vanguard 500 IndexPairCorr
  0.63VTSAX Vanguard Total StockPairCorr
  0.9VTSNX Vanguard Total InterPairCorr
  0.75VTISX Vanguard Total InterPairCorr
  0.78VTPSX Vanguard Total InterPairCorr
  0.64VINIX Vanguard InstitutionalPairCorr
  0.9MHESX Mh Elite SelectPairCorr
  0.83TWCGX Growth Fund InvestorPairCorr
  0.78FOFQX Franklin Oregon TaxPairCorr
  0.9CUSDX Six Circles UltraPairCorr
  0.88ISWSX Voya Solution IncomePairCorr
  0.88DWAFX Arrow Dwa BalancedPairCorr
  0.76VTROX Voya Target RetirementPairCorr
  0.69CHCGX Chesapeake GrowthPairCorr
  0.83BVAOX Broadview OpportunityPairCorr
  0.74ARRFX Amg River RoadPairCorr
  0.85DGLCX Global StockPairCorr
  0.86PARNX Parnassus Fund InvestorPairCorr
  0.71MLPMX Oppenheimer Steelpath MlpPairCorr
  0.92MAMOX Mutual Of AmericaPairCorr
  0.63CREMX Redwood Real EstatePairCorr
  0.74SMDIX Hartford SchrodersPairCorr
  0.91MXTBX Great West LifetimePairCorr
  0.92SNWCX Snow Capital SmallPairCorr
  0.7PLAAX Pace Large GrowthPairCorr
  0.9ASMOX Aqr Small CapPairCorr

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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