Power Dividend Correlations

Mutual Funds . USA . 
Fund . Power Dividend Index
PWDIX Fund  USD 10.12  0.01  0.1%   
The current 90-days correlation between Power Dividend Index and Power Income Fund is -0.14 (i.e., Good 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 0.87 (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

  0.95PWRAX Power IncomePairCorr
  0.95PWRCX Power IncomePairCorr
  0.96PWRIX Power IncomePairCorr
  0.95MOJCX Power Momentum IndexPairCorr
  0.94MOJAX Power Momentum IndexPairCorr
  0.95MOJOX Power Momentum IndexPairCorr
  0.93FLOTX Power Floating RatePairCorr
  0.97GTAAX Power Global TacticalPairCorr
  0.97GTAIX Power Global TacticalPairCorr
  0.98PWDAX Power Dividend IndexPairCorr
  1.0PWDCX Power Dividend IndexPairCorr
  0.96PAALX All Asset FundPairCorr
  0.96PATRX Pimco All AssetPairCorr
  0.96PAAIX All Asset FundPairCorr
  0.96PALPX Pimco All AssetPairCorr
  0.93PASAX All Asset FundPairCorr
  0.96PASCX All Asset FundPairCorr
  0.95PAANX Pimco All AssetPairCorr
  0.92PAUPX Pimco All AssetPairCorr
  0.93PAUIX Pimco All AssetPairCorr
  0.94PFN Pimco Income StrategyPairCorr
  0.94CIF Mfs Intermediate HighPairCorr
  0.91PCF Putnam High IncomePairCorr
  0.94TSWMX Tsw Emerging MarketsPairCorr
  0.94HOSTX Holbrook StructuredPairCorr
  0.98SIPIX Simt Mid CapPairCorr
  0.96MFEGX Mfs Growth FundPairCorr
  0.96IGAIX International Growth AndPairCorr
  0.99LEVAX Blackrock Lifepath EsgPairCorr
  0.98RDITX American Funds 2050PairCorr
  0.98RYCCX Nasdaq 100 2xPairCorr
  0.97LIDPX Blackrock Lifepath IndexPairCorr
  0.99JAABX Jpmorgan SmartretirementPairCorr

Moving against Power Mutual Fund

  0.63XNBHX Neuberger Berman IntPairCorr
  0.57XDSMX Dreyfus StrategicPairCorr

Related Correlations Analysis

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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.

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