Power Income Correlations

PWRAX Fund

USD 9.05 0.01 0.11%

The current 90-days correlation between Power Income and Global Gold Fund is 0.33 (i.e., Weak diversification). The correlation of Power Income 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 Income Correlation With Market

Weak diversification

The correlation between Power Income Fund and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Income Fund 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 Income Fund. 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 nation.

Moving together with Power Mutual Fund

0.92	PWRCX	Power Income	Pair Corr
0.93	PWRIX	Power Income	Pair Corr
0.81	FLOTX	Power Floating Rate	Pair Corr
0.74	PWDAX	Power Dividend Index	Pair Corr
0.77	PWDCX	Power Dividend Index	Pair Corr
0.77	PWDIX	Power Dividend Index	Pair Corr
0.67	BASIX	Blackrock Strategic Opps	Pair Corr
0.77	BSIIX	Blackrock Strategic	Pair Corr
0.74	BSIKX	Blackrock Strategic	Pair Corr
0.8	JSORX	Jpmorgan Strategic Income	Pair Corr
0.85	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.87	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.87	PMZAX	Pimco Mortgage Oppor	Pair Corr
0.79	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.77	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.62	RMQAX	Monthly Rebalance	Pair Corr
0.62	RMQHX	Monthly Rebalance	Pair Corr
0.62	UOPIX	Ultra Nasdaq 100	Pair Corr
0.61	FSELX	Fidelity Select Semi	Pair Corr
0.66	FGPMX	Franklin Gold And	Pair Corr
0.66	TILWX	Tiaa Cref Large	Pair Corr
0.76	VNDFX	Viking Tax Free	Pair Corr
0.68	VBIAX	Vanguard Balanced Index	Pair Corr
0.68	LAMAX	Lord Abbett Calibrated	Pair Corr
0.81	COAVX	Columbia Overseas Value	Pair Corr
0.71	IGFFX	International Growth And	Pair Corr

Moving against Power Mutual Fund

0.34	MOJCX	Power Momentum Index	Pair Corr
0.32	MOJAX	Power Momentum Index	Pair Corr
0.31	MOJOX	Power Momentum Index	Pair Corr
0.5	RMQCX	Monthly Rebalance	Pair Corr
0.5	ONERX	One Rock Fund	Pair Corr

Related Correlations Analysis

	AGGWX	GLRBX	FEGOX	XGGNX	FRGOX	IOGYX	MXKJX
AGGWX		0.86	1.0	0.94	0.89	0.95	0.49	AGGWX
GLRBX	0.86		0.88	0.89	0.78	0.84	0.56	GLRBX
FEGOX	1.0	0.88		0.95	0.89	0.95	0.49	FEGOX
XGGNX	0.94	0.89	0.95		0.92	0.97	0.47	XGGNX
FRGOX	0.89	0.78	0.89	0.92		0.93	0.55	FRGOX
IOGYX	0.95	0.84	0.95	0.97	0.93		0.43	IOGYX
MXKJX	0.49	0.56	0.49	0.47	0.55	0.43		MXKJX
	AGGWX	GLRBX	FEGOX	XGGNX	FRGOX	IOGYX	MXKJX

Risk-Adjusted Indicators

There is a big difference between Power Mutual Fund performing well and Power Income 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 Income'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
AGGWX	1.93	0.20	0.08	0.25	2.57	(2.01)	4.53	(4.36)	12.80
GLRBX	0.39	0.07	0.05	0.22	0.13	(0.45)	0.75	(0.54)	4.49
FEGOX	1.69	0.23	0.08	0.31	2.34	(1.82)	3.45	(3.65)	11.36
XGGNX	0.70	0.09	0.03	0.49	0.82	(0.76)	1.83	(1.44)	3.53
FRGOX	1.87	0.13	0.03	0.49	2.84	(1.84)	3.50	(4.75)	12.16
IOGYX	1.83	0.21	0.06	0.63	2.44	(1.98)	4.23	(4.24)	12.06
MXKJX	0.79	(0.07)	(0.04)	0.02	1.36	(0.75)	1.44	(1.38)	7.73

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