Power Global Correlations

GLACX Fund

USD 10.89 0.02 0.18%

The current 90-days correlation between Power Global Tactical and Power Floating Rate is 0.37 (i.e., Weak diversification). The correlation of Power Global 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 Global Correlation With Market

Average diversification

The correlation between Power Global Tactical and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Global Tactical and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Power Global Tactical. 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 main economic indicators.

Moving together with Power Mutual Fund

0.82	FLOCX	Power Floating Rate	Pair Corr
0.82	FLOAX	Power Floating Rate	Pair Corr
0.91	VTSAX	Vanguard Total Stock	Pair Corr
0.92	VFIAX	Vanguard 500 Index	Pair Corr
0.91	VTSMX	Vanguard Total Stock	Pair Corr
0.91	VSMPX	Vanguard Total Stock	Pair Corr
0.91	VSTSX	Vanguard Total Stock	Pair Corr
0.93	VITSX	Vanguard Total Stock	Pair Corr
0.92	VFINX	Vanguard 500 Index	Pair Corr
0.91	VFFSX	Vanguard 500 Index	Pair Corr
0.78	AVGYX	Dynamic Total Return	Pair Corr
0.88	SMAPX	Salient Mlp Energy	Pair Corr
0.82	TGHYX	Tcw High Yield	Pair Corr
0.82	IRSNX	Voya Target Retirement	Pair Corr
0.85	MXBQX	Great West Lifetime	Pair Corr
0.88	PKSCX	Virtus Kar Small	Pair Corr
0.88	USLIX	Us Global Leaders	Pair Corr
0.8	IOBZX	Icon Bond Fund	Pair Corr
0.87	JTSQX	Jp Morgan Smartretirement	Pair Corr
0.89	ITYYX	Invesco Technology	Pair Corr
0.84	FBIFX	Fidelity Freedom Index	Pair Corr
0.78	CUSHX	Columbia Ultra Short	Pair Corr
0.92	NICSX	Nicholas Fund	Pair Corr
0.71	HHCZX	Highland Longshort	Pair Corr
0.83	ADNIX	Amer Beacon Ark Steady Growth	Pair Corr

Moving against Power Mutual Fund

0.47	VGTSX	Vanguard Total Inter	Pair Corr
0.47	VTIAX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	GLACX	FLOCX	FLOAX	ETILX	FSMDX	GJRTX	RNGGX	HSTIX	FGFWX	NFJ
GLACX		0.82	0.82	0.89	0.96	0.75	0.83	0.92	0.77	0.84	GLACX
FLOCX	0.82		0.99	0.77	0.88	0.62	0.88	0.92	0.57	0.57	FLOCX
FLOAX	0.82	0.99		0.78	0.89	0.61	0.88	0.93	0.54	0.56	FLOAX
ETILX	0.89	0.77	0.78		0.91	0.78	0.72	0.91	0.62	0.82	ETILX
FSMDX	0.96	0.88	0.89	0.91		0.68	0.82	0.95	0.62	0.77	FSMDX
GJRTX	0.75	0.62	0.61	0.78	0.68		0.69	0.75	0.81	0.81	GJRTX
RNGGX	0.83	0.88	0.88	0.72	0.82	0.69		0.89	0.77	0.6	RNGGX
HSTIX	0.92	0.92	0.93	0.91	0.95	0.75	0.89		0.64	0.75	HSTIX
FGFWX	0.77	0.57	0.54	0.62	0.62	0.81	0.77	0.64		0.72	FGFWX
NFJ	0.84	0.57	0.56	0.82	0.77	0.81	0.6	0.75	0.72		NFJ
	GLACX	FLOCX	FLOAX	ETILX	FSMDX	GJRTX	RNGGX	HSTIX	FGFWX	NFJ

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Risk-Adjusted Indicators

There is a big difference between Power Mutual Fund performing well and Power Global 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 Global'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
GLACX	0.24	0.02	(0.11)	0.32	0.14	(0.33)	0.65	(0.46)	1.47
FLOCX	0.05	0.00	0.00	0.00	0.00	0.00	0.11	(0.10)	0.31
FLOAX	0.05	0.02	0.00	3.80	0.00	0.00	0.10	(0.10)	0.30
ETILX	0.75	0.01	0.01	0.07	0.82	(0.88)	1.72	(1.28)	4.80
FSMDX	0.56	0.10	0.09	0.59	0.43	(0.68)	1.34	(0.92)	3.84
GJRTX	0.28	0.00	(0.10)	0.06	0.23	(0.36)	0.69	(0.59)	1.80
RNGGX	0.61	0.13	0.08	2.25	0.66	(0.67)	1.38	(1.17)	4.00
HSTIX	0.48	0.05	0.05	0.12	0.45	(0.53)	0.97	(0.93)	3.86
FGFWX	0.28	0.02	(0.08)	0.53	0.27	(0.33)	0.50	(0.64)	1.64
NFJ	0.46	(0.02)	(0.10)	0.01	0.50	(0.50)	1.04	(0.87)	2.23

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