Power Floating Correlations

Mutual Funds . USA . 
Fund . Power Floating Rate
FLOTX Fund  USD 9.33  0.01  0.11%   
The current 90-days correlation between Power Floating Rate and Nasdaq 100 Index Fund is 0.33 (i.e., Weak 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

Good diversification

The correlation between Power Floating Rate and DJI is -0.03 (i.e., Good 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

  0.98PWRAX Power IncomePairCorr
  0.98PWRCX Power IncomePairCorr
  0.98PWRIX Power IncomePairCorr
  0.87MOJCX Power Momentum IndexPairCorr
  0.87MOJAX Power Momentum IndexPairCorr
  0.86MOJOX Power Momentum IndexPairCorr
  0.9GTAAX Power Global TacticalPairCorr
  0.91GTAIX Power Global TacticalPairCorr
  0.91PWDAX Power Dividend IndexPairCorr
  0.91PWDCX Power Dividend IndexPairCorr
  0.91PWDIX Power Dividend IndexPairCorr
  0.94BSIKX Blackrock StrategicPairCorr
  0.94BSICX Blackrock Strategic OppsPairCorr
  0.94BASIX Blackrock Strategic OppsPairCorr
  0.94BSIIX Blackrock StrategicPairCorr
  0.95JSORX Jpmorgan Strategic IncomePairCorr
  0.94JSOZX Jpmorgan Strategic IncomePairCorr
  0.92JSOCX Jpmorgan Strategic IncomePairCorr
  0.94JSOSX Jpmorgan Strategic IncomePairCorr
  0.94JSOAX Jpmorgan Strategic IncomePairCorr
  0.82PMZCX Pimco Mortgage OpporPairCorr
  0.93FSMMX Fs Multi StrategyPairCorr
  0.82BTMPX Ishares Msci EafePairCorr
  0.82BTMKX Blackrock InternationalPairCorr
  0.82MDIIX Blackrock Intern IndexPairCorr
  0.63SPMPX Invesco Steelpath MlpPairCorr
  0.63MLPNX Oppenheimer Steelpath MlpPairCorr
  0.61MLPMX Oppenheimer Steelpath MlpPairCorr
  0.65SPMJX Invesco Steelpath MlpPairCorr
  0.85KNGLX Cboe Vest SpPairCorr
  0.8MSQLX International EquityPairCorr
  0.96QTSSX Quantified TacticalPairCorr
  0.9GEMZX Emerging Markets EquityPairCorr
  0.88CNPCX New PerspectivePairCorr
  0.9MAANX Mutual Of AmericaPairCorr
  0.9JFFYX Jpmorgan SmartretirementPairCorr
  0.77PINFX Invesco Multi AssetPairCorr
  0.93SWCGX Schwab MarkettrackPairCorr

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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