Power Dividend Correlations

Mutual Funds . USA . 
Fund . Power Dividend Index
PWDIX Fund  USD 9.84  0.12  1.23%   
The current 90-days correlation between Power Dividend Index and Vy T Rowe is 0.73 (i.e., Poor diversification). The correlation of Power Dividend 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 Dividend Correlation With Market

Weak diversification

The correlation between Power Dividend Index and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Dividend Index and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Power Dividend Index. 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 gross domestic product.

Moving together with Power Mutual Fund

  0.69MOJCX Power Momentum IndexPairCorr
  0.71MOJAX Power Momentum IndexPairCorr
  0.71MOJOX Power Momentum IndexPairCorr
  0.95GTAAX Power Global TacticalPairCorr
  0.95GTAIX Power Global TacticalPairCorr
  1.0PWDAX Power Dividend IndexPairCorr
  1.0PWDCX Power Dividend IndexPairCorr
  0.69PAALX All Asset FundPairCorr
  0.68PATRX Pimco All AssetPairCorr
  0.7PAAIX All Asset FundPairCorr
  0.69PALPX Pimco All AssetPairCorr
  0.69PASAX All Asset FundPairCorr
  0.68PASCX All Asset FundPairCorr
  0.69PAANX Pimco All AssetPairCorr
  0.61PAUPX Pimco All AssetPairCorr
  0.61PAUIX Pimco All AssetPairCorr
  0.62ABRIX Invesco Balanced RiskPairCorr
  0.63ADX Adams Diversified EquityPairCorr
  0.89SPVZX Prudential Qma MidPairCorr
  0.68MKHCX Mainstay High YieldPairCorr

Moving against Power Mutual Fund

  0.37PQTAX Pimco Trends ManagedPairCorr
  0.37PQTNX Pimco Trends ManagedPairCorr
  0.37PQTIX Aa Pimco TrPairCorr

Related Correlations Analysis

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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   
MBLAX
+ 0.87
SWSSX
WDIAX
+ 0.87
MBLAX
DLTZX
+ 0.77
SRDAX
SWSSX
+ 0.74
IAXSX
WDIAX
+ 0.73
SWSSX
MBLAX
+ 0.67
IAXSX
  
High negative correlations   
WDIAX
- 0.51
SRDAX
SRDAX
- 0.32
MBLAX
SRDAX
- 0.22
SWSSX
WDIAX
- 0.13
DLTZX

Risk-Adjusted Indicators

There is a big difference between Power Mutual Fund performing well and Power Dividend 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 Dividend'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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