Power Floating Correlations

FLOTX Fund

USD 9.70 0.01 0.10%

The current 90-days correlation between Power Floating Rate and Power Income Fund is 0.06 (i.e., Significant 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 0.54 (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 estimate.

Moving together with Power Mutual Fund

0.62	PWRIX	Power Income	Pair Corr
0.75	MOJCX	Power Momentum Index	Pair Corr
0.76	MOJAX	Power Momentum Index	Pair Corr
0.76	MOJOX	Power Momentum Index	Pair Corr
0.88	GTAAX	Power Global Tactical	Pair Corr
0.89	GTAIX	Power Global Tactical	Pair Corr
0.82	PWDAX	Power Dividend Index	Pair Corr
0.81	PWDCX	Power Dividend Index	Pair Corr
0.82	PWDIX	Power Dividend Index	Pair Corr
0.96	JSORX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.97	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.73	MAAYX	Morgan Stanley Focus	Pair Corr
0.91	USPRX	Sp 500 Index	Pair Corr
0.91	FXAIX	Fidelity 500 Index	Pair Corr
0.85	VWELX	Vanguard Wellington	Pair Corr
0.92	LLPFX	Longleaf Partners	Pair Corr
0.77	SMERX	Invesco Small Cap	Pair Corr
0.9	FPURX	Fidelity Puritan	Pair Corr
0.87	THMAX	Thrivent Moderate	Pair Corr
0.85	WBCIX	William Blair Small	Pair Corr
0.86	VNSNX	Vaughan Nelson Select	Pair Corr
0.91	CMEUX	Six Circles Managed	Pair Corr
0.92	FEMDX	Franklin Emerging Market	Pair Corr
0.91	VTSAX	Vanguard Total Stock	Pair Corr

Moving against Power Mutual Fund

0.74	PFHCX	Pacific Funds Small	Pair Corr
0.67	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.35	PPROX	Putnam Panagora Risk	Pair Corr
0.35	PPRPX	Putnam Panagora Risk	Pair Corr
0.35	PPRWX	Putnam Panagora Risk	Pair Corr

Related Correlations Analysis

	PWRCX	MOJCX	MOJAX	MOJOX	GTAAX	GTAIX	PWDCX
PWRCX		-0.04	-0.04	-0.04	0.27	0.27	0.18	PWRCX
MOJCX	-0.04		1.0	1.0	0.9	0.9	0.88	MOJCX
MOJAX	-0.04	1.0		1.0	0.91	0.9	0.88	MOJAX
MOJOX	-0.04	1.0	1.0		0.91	0.9	0.88	MOJOX
GTAAX	0.27	0.9	0.91	0.91		1.0	0.97	GTAAX
GTAIX	0.27	0.9	0.9	0.9	1.0		0.96	GTAIX
PWDCX	0.18	0.88	0.88	0.88	0.97	0.96		PWDCX
	PWRCX	MOJCX	MOJAX	MOJOX	GTAAX	GTAIX	PWDCX

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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

MOJAX	+ 1.0	MOJCX
MOJOX	+ 1.0	MOJCX
MOJOX	+ 1.0	MOJAX
GTAIX	+ 1.0	GTAAX
PWDCX	+ 0.97	GTAAX
PWDCX	+ 0.96	GTAIX

High negative correlations

MOJOX	- 0.04	PWRCX
MOJAX	- 0.04	PWRCX
MOJCX	- 0.04	PWRCX

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
PWRCX	0.08	0.00	(0.40)	0.28	0.13	(0.14)	0.11	(0.22)	1.00
MOJCX	0.72	(0.03)	(0.03)	0.09	0.91	(0.73)	1.66	(1.37)	4.71
MOJAX	0.73	(0.03)	(0.02)	0.09	0.91	(0.75)	1.70	(1.36)	4.72
MOJOX	0.73	(0.03)	(0.02)	0.09	0.91	(0.75)	1.67	(1.33)	4.78
GTAAX	0.28	0.00	(0.16)	0.13	0.23	(0.33)	0.73	(0.46)	1.85
GTAIX	0.28	0.00	(0.17)	0.13	0.19	(0.35)	0.74	(0.54)	1.86
PWDCX	0.58	(0.02)	(0.06)	0.10	0.46	(0.76)	1.26	(1.02)	3.77

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