Power Income Correlations

PWRIX Fund

USD 9.04 0.01 0.11%

The current 90-days correlation between Power Income and Science Technology Fund is 0.08 (i.e., Significant 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

Poor diversification

The correlation between Power Income Fund 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 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 gross domestic product.

Moving together with Power Mutual Fund

0.89	PWRAX	Power Income	Pair Corr
0.83	PWRCX	Power Income	Pair Corr
0.66	MOJCX	Power Momentum Index	Pair Corr
0.62	MOJAX	Power Momentum Index	Pair Corr
0.66	MOJOX	Power Momentum Index	Pair Corr
0.67	BSICX	Blackrock Strategic Opps	Pair Corr
0.7	BASIX	Blackrock Strategic Opps	Pair Corr
0.76	BSIIX	Blackrock Strategic	Pair Corr
0.76	BSIKX	Blackrock Strategic	Pair Corr
0.82	JSORX	Jpmorgan Strategic Income	Pair Corr
0.76	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.81	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.81	PMZAX	Pimco Mortgage Oppor	Pair Corr
0.81	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.83	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.65	VFIAX	Vanguard 500 Index	Pair Corr
0.67	VTSMX	Vanguard Total Stock	Pair Corr
0.67	VSMPX	Vanguard Total Stock	Pair Corr
0.67	VITSX	Vanguard Total Stock	Pair Corr
0.67	VTIAX	Vanguard Total Inter	Pair Corr
0.65	VFINX	Vanguard 500 Index	Pair Corr
0.77	SPXKX	Sp 500 Index	Pair Corr
0.71	LSYNX	Lord Abbett Short	Pair Corr
0.71	YACKX	Amg Yacktman	Pair Corr
0.69	FHQRX	Franklin High Income	Pair Corr
0.83	STRYX	Pioneer Strategic Income	Pair Corr
0.78	FHIIX	Federated High Income	Pair Corr
0.73	VTSPX	Vanguard Short Term	Pair Corr
0.72	RSLBX	Smallcap World	Pair Corr
0.74	PNRCX	Jennison Natural Res	Pair Corr

Moving against Power Mutual Fund

0.35

CHN

China Fund

Pair Corr

Related Correlations Analysis

	PGKCX	DTEYX	FIJYX	BIPIX	TOWTX	FRBRX	USTCX
PGKCX		0.71	-0.06	0.35	0.71	0.54	0.73	PGKCX
DTEYX	0.71		0.31	0.73	0.93	0.77	0.88	DTEYX
FIJYX	-0.06	0.31		0.84	0.3	0.7	0.22	FIJYX
BIPIX	0.35	0.73	0.84		0.71	0.94	0.66	BIPIX
TOWTX	0.71	0.93	0.3	0.71		0.75	0.87	TOWTX
FRBRX	0.54	0.77	0.7	0.94	0.75		0.76	FRBRX
USTCX	0.73	0.88	0.22	0.66	0.87	0.76		USTCX
	PGKCX	DTEYX	FIJYX	BIPIX	TOWTX	FRBRX	USTCX

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

FRBRX	+ 0.94	BIPIX
TOWTX	+ 0.93	DTEYX
USTCX	+ 0.88	DTEYX
USTCX	+ 0.87	TOWTX
BIPIX	+ 0.84	FIJYX
FRBRX	+ 0.77	DTEYX

High negative correlations

FIJYX

- 0.06

PGKCX

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
PGKCX	1.06	0.07	0.01	0.48	1.50	(0.99)	1.84	(2.74)	11.68
DTEYX	1.15	0.18	0.11	0.24	1.31	(1.17)	2.19	(2.35)	12.28
FIJYX	1.13	0.17	0.08	0.66	1.32	(1.20)	2.80	(2.43)	7.19
BIPIX	1.80	0.33	0.15	0.40	1.82	(1.98)	4.29	(3.27)	10.98
TOWTX	0.72	0.02	0.01	0.09	0.79	(0.78)	1.49	(1.37)	4.54
FRBRX	1.28	0.37	0.23	1.03	1.09	(1.51)	2.84	(2.05)	14.11
USTCX	0.98	0.16	0.07	1.69	1.14	(0.97)	2.01	(2.05)	9.79

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