Power Floating Correlations

Mutual Funds . USA . 
Fund . Power Floating Rate
FLOTX Fund  USD 9.71  0.01  0.10%   
The current 90-days correlation between Power Floating Rate and Power Income Fund is 0.23 (i.e., Modest 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 0.5 (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

  0.87MOJCX Power Momentum IndexPairCorr
  0.87MOJAX Power Momentum IndexPairCorr
  0.87MOJOX Power Momentum IndexPairCorr
  0.9GTAAX Power Global TacticalPairCorr
  0.9GTAIX Power Global TacticalPairCorr
  0.84PWDAX Power Dividend IndexPairCorr
  0.82PWDCX Power Dividend IndexPairCorr
  0.84PWDIX Power Dividend IndexPairCorr
  0.92JSORX Jpmorgan Strategic IncomePairCorr
  0.91JSOZX Jpmorgan Strategic IncomePairCorr
  0.91JSOCX Jpmorgan Strategic IncomePairCorr
  0.92JSOSX Jpmorgan Strategic IncomePairCorr
  0.92JSOAX Jpmorgan Strategic IncomePairCorr
  0.94VSTSX Vanguard Total StockPairCorr
  0.94VSMPX Vanguard Total StockPairCorr
  0.94VITSX Vanguard Total StockPairCorr
  0.94VFFSX Vanguard 500 IndexPairCorr
  0.94VFIAX Vanguard 500 IndexPairCorr
  0.94VINIX Vanguard InstitutionalPairCorr
  0.94VTSAX Vanguard Total StockPairCorr
  0.8AMECX Income FundPairCorr
  0.74AMVYX Mid Cap ValuePairCorr
  0.79ANCIX Ancora MicrocapPairCorr
  0.94ILESX Fisher InvestmentsPairCorr
  0.89DFMAX Davidson Multi CapPairCorr
  0.92WCPSX Mobile TelecommunicatioPairCorr

Moving against Power Mutual Fund

  0.42BSICX Blackrock Strategic OppsPairCorr
  0.36BASIX Blackrock Strategic OppsPairCorr
  0.77PMZCX Pimco Mortgage OpporPairCorr
  0.31VTISX Vanguard Total InterPairCorr
  0.31VTSNX Vanguard Total InterPairCorr
  0.31VTPSX Vanguard Total InterPairCorr

Related Correlations Analysis

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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.

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