Power Dividend Correlations

PWDIX Fund

USD 9.90 0.04 0.41%

The current 90-days correlation between Power Dividend Index and T Rowe Price is 0.81 (i.e., Very poor diversification). The correlation of Power Dividend 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 Dividend Correlation With Market

Very poor diversification

The correlation between Power Dividend Index and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Dividend Index 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 Dividend Index. 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

0.94	MOJCX	Power Momentum Index	Pair Corr
0.94	MOJAX	Power Momentum Index	Pair Corr
0.94	MOJOX	Power Momentum Index	Pair Corr
0.84	FLOTX	Power Floating Rate	Pair Corr
0.98	GTAAX	Power Global Tactical	Pair Corr
0.97	GTAIX	Power Global Tactical	Pair Corr
1.0	PWDAX	Power Dividend Index	Pair Corr
1.0	PWDCX	Power Dividend Index	Pair Corr
0.94	VTSAX	Vanguard Total Stock	Pair Corr
0.93	VFIAX	Vanguard 500 Index	Pair Corr
0.94	VTSMX	Vanguard Total Stock	Pair Corr
0.94	VSMPX	Vanguard Total Stock	Pair Corr
0.94	VSTSX	Vanguard Total Stock	Pair Corr
0.94	VITSX	Vanguard Total Stock	Pair Corr
0.93	VFINX	Vanguard 500 Index	Pair Corr
0.93	VFFSX	Vanguard 500 Index	Pair Corr
0.96	VSEQX	Vanguard Strategic Equity	Pair Corr
0.95	VWELX	Vanguard Wellington	Pair Corr
0.82	PCF	Putnam High Income	Pair Corr
0.92	ILESX	Fisher Investments	Pair Corr
0.87	DFMGX	Df Dent Midcap	Pair Corr
0.96	VEXRX	Vanguard Explorer	Pair Corr
0.87	SAGAX	Ridgeworth Innovative	Pair Corr
0.87	WCPSX	Mobile Telecommunicatio	Pair Corr

Moving against Power Mutual Fund

0.34	PAUPX	Pimco All Asset	Pair Corr
0.32	PAUIX	Pimco All Asset	Pair Corr

Related Correlations Analysis

	RPGIX	KGLCX	WRLDX	DSDYX	BXFIX	APDPX	PGMAX
RPGIX		0.46	0.8	-0.16	0.52	0.49	0.95	RPGIX
KGLCX	0.46		0.74	-0.55	0.86	0.87	0.48	KGLCX
WRLDX	0.8	0.74		-0.17	0.64	0.56	0.8	WRLDX
DSDYX	-0.16	-0.55	-0.17		-0.6	-0.76	-0.18	DSDYX
BXFIX	0.52	0.86	0.64	-0.6		0.92	0.54	BXFIX
APDPX	0.49	0.87	0.56	-0.76	0.92		0.54	APDPX
PGMAX	0.95	0.48	0.8	-0.18	0.54	0.54		PGMAX
	RPGIX	KGLCX	WRLDX	DSDYX	BXFIX	APDPX	PGMAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PGMAX	+ 0.95	RPGIX
APDPX	+ 0.92	BXFIX
APDPX	+ 0.87	KGLCX
BXFIX	+ 0.86	KGLCX
WRLDX	+ 0.8	RPGIX
PGMAX	+ 0.8	WRLDX

High negative correlations

APDPX	- 0.76	DSDYX
BXFIX	- 0.6	DSDYX
DSDYX	- 0.55	KGLCX
PGMAX	- 0.18	DSDYX
DSDYX	- 0.17	WRLDX
DSDYX	- 0.16	RPGIX

Risk-Adjusted Indicators

There is a big difference between Power Mutual Fund performing well and Power Dividend 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 Dividend'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
RPGIX	0.73	(0.07)	(0.06)	0.06	1.02	(0.73)	1.40	(1.57)	4.64
KGLCX	1.07	0.38	0.32	0.51	0.57	(1.29)	3.14	(1.32)	7.99
WRLDX	0.49	(0.02)	(0.13)	0.09	0.45	(0.55)	0.92	(0.97)	2.75
DSDYX	0.16	0.00	(0.65)	(0.05)	0.15	(0.19)	0.38	(0.24)	0.92
BXFIX	0.07	0.03	0.00	1.98	0.00	0.00	0.12	0.00	0.81
APDPX	0.10	0.00	(0.66)	0.00	0.00	(0.15)	0.20	(0.10)	0.69
PGMAX	0.31	(0.03)	(0.24)	0.06	0.34	(0.38)	0.70	(0.69)	2.08

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC