Power Income Correlations

PWRCX Fund

USD 8.84 0.05 0.56%

The current 90-days correlation between Power Income and Power Income Fund is 0.79 (i.e., Poor diversification). The correlation of Power Income 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 Income Correlation With Market

Weak diversification

The correlation between Power Income Fund and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Income Fund 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 Income Fund. 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 private.

Moving together with Power Mutual Fund

0.94	PWRAX	Power Income	Pair Corr
0.99	PWRIX	Power Income	Pair Corr
0.78	MOJCX	Power Momentum Index	Pair Corr
0.79	MOJAX	Power Momentum Index	Pair Corr
0.79	MOJOX	Power Momentum Index	Pair Corr
0.93	FLOTX	Power Floating Rate	Pair Corr
0.91	GTAAX	Power Global Tactical	Pair Corr
0.94	GTAIX	Power Global Tactical	Pair Corr
0.84	PWDAX	Power Dividend Index	Pair Corr
0.85	PWDCX	Power Dividend Index	Pair Corr
0.92	BSIKX	Blackrock Strategic	Pair Corr
0.92	BSICX	Blackrock Strategic Opps	Pair Corr
0.93	BASIX	Blackrock Strategic Opps	Pair Corr
0.93	BSIIX	Blackrock Strategic	Pair Corr
0.96	JSORX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.95	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.9	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.95	FSMMX	Fs Multi Strategy	Pair Corr
0.81	BTMPX	Ishares Msci Eafe	Pair Corr
0.81	BTMKX	Blackrock International	Pair Corr
0.82	MDIIX	Blackrock Intern Index	Pair Corr
0.91	FMUAX	Federated Muni And	Pair Corr
0.91	GILDX	Guggenheim Limited	Pair Corr
0.91	PFRMX	Pimco Inflation Response	Pair Corr
0.9	QDIBX	Fisher Fixed Income	Pair Corr
0.67	RSMVX	William Blair Small	Pair Corr
0.77	HULCX	Hawaiian Tax Free	Pair Corr
0.74	ADNYX	Amer Beacon Ark	Pair Corr
0.82	AZTCX	Aquila Tax Free	Pair Corr
0.94	JRBYX	Jpmorgan Smartretirement	Pair Corr
0.89	CVLFX	Cullen Value	Pair Corr

Related Correlations Analysis

	PWRIX	MOJCX	MOJAX	MOJOX	GTAAX	GTAIX	PWDAX	PWDCX
PWRIX		0.79	0.8	0.81	0.91	0.94	0.84	0.86	PWRIX
MOJCX	0.79		1.0	0.93	0.9	0.86	0.73	0.72	MOJCX
MOJAX	0.8	1.0		0.93	0.91	0.87	0.74	0.73	MOJAX
MOJOX	0.81	0.93	0.93		0.86	0.9	0.72	0.73	MOJOX
GTAAX	0.91	0.9	0.91	0.86		0.97	0.93	0.9	GTAAX
GTAIX	0.94	0.86	0.87	0.9	0.97		0.9	0.93	GTAIX
PWDAX	0.84	0.73	0.74	0.72	0.93	0.9		0.95	PWDAX
PWDCX	0.86	0.72	0.73	0.73	0.9	0.93	0.95		PWDCX
	PWRIX	MOJCX	MOJAX	MOJOX	GTAAX	GTAIX	PWDAX	PWDCX

Risk-Adjusted Indicators

There is a big difference between Power Mutual Fund performing well and Power Income 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 Income'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
PWRIX	0.05	(0.01)	0.00	(0.10)	0.00	0.00	0.11	(0.11)	0.22
MOJCX	0.55	0.10	(0.01)	(0.42)	0.60	(0.59)	1.25	(1.23)	3.08
MOJAX	0.55	0.11	(0.01)	(0.40)	0.60	(0.59)	1.29	(1.21)	3.13
MOJOX	0.56	0.03	(0.02)	0.16	0.61	(0.62)	1.27	(1.29)	3.13
GTAAX	0.27	0.08	(0.08)	(0.60)	0.00	(0.35)	0.53	(0.35)	1.41
GTAIX	0.26	0.02	(0.13)	0.13	0.02	(0.32)	0.53	(0.35)	1.41
PWDAX	0.52	0.13	0.06	(2.00)	0.34	(0.65)	1.21	(0.89)	3.32
PWDCX	0.51	0.02	0.02	0.12	0.36	(0.63)	1.22	(0.80)	3.25

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Power Income Correlations

Power Income Correlation With Market

Weak diversification

Moving together with Power Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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