Power Income Correlations

PWRCX Fund

USD 8.89 0.01 0.11%

The current 90-days correlation between Power Income and T Rowe Price is 0.23 (i.e., Modest 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 0.37 (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 unemployment.

Moving together with Power Mutual Fund

0.97	PWRAX	Power Income	Pair Corr
0.98	PWRIX	Power Income	Pair Corr
0.8	FLOTX	Power Floating Rate	Pair Corr
0.73	GTAAX	Power Global Tactical	Pair Corr
0.72	PWDAX	Power Dividend Index	Pair Corr
0.73	PWDCX	Power Dividend Index	Pair Corr
0.73	PWDIX	Power Dividend Index	Pair Corr
0.67	BASIX	Blackrock Strategic Opps	Pair Corr
0.69	BSIKX	Blackrock Strategic	Pair Corr
0.79	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.79	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.79	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.8	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.65	LAMAX	Lord Abbett Calibrated	Pair Corr
0.75	COAVX	Columbia Overseas Value	Pair Corr
0.63	IGFFX	International Growth And	Pair Corr

Moving against Power Mutual Fund

0.33

RMQCX

Monthly Rebalance

Pair Corr

Related Correlations Analysis

	PARDX	URFRX	TRRHX	TRRGX	TRRJX	TRAVX
PARDX		0.97	0.99	1.0	1.0	0.95	PARDX
URFRX	0.97		0.97	0.97	0.97	0.9	URFRX
TRRHX	0.99	0.97		1.0	1.0	0.93	TRRHX
TRRGX	1.0	0.97	1.0		1.0	0.94	TRRGX
TRRJX	1.0	0.97	1.0	1.0		0.95	TRRJX
TRAVX	0.95	0.9	0.93	0.94	0.95		TRAVX
	PARDX	URFRX	TRRHX	TRRGX	TRRJX	TRAVX

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
PARDX	0.47	0.06	0.06	0.19	0.31	(0.55)	1.00	(0.93)	4.06
URFRX	0.43	0.10	0.09	0.28	0.17	(0.51)	0.90	(0.82)	4.41
TRRHX	0.33	0.06	0.03	0.23	0.00	(0.40)	0.65	(0.54)	4.11
TRRGX	0.29	0.05	(0.02)	0.21	0.00	(0.37)	0.55	(0.47)	3.40
TRRJX	0.43	0.06	0.05	0.19	0.27	(0.50)	0.90	(0.76)	3.80
TRAVX	0.33	0.04	(0.02)	0.19	0.16	(0.40)	0.66	(0.56)	2.93

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