Power Floating Correlations

FLOAX Fund  USD 9.91  0.01  0.10%   
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

Poor diversification

The correlation between Power Floating Rate and DJI is 0.6 (i.e., Poor 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 nation.

Moving together with Power Mutual Fund

  0.76GLACX Power Global TacticalPairCorr
  0.9FLOCX Power Floating RatePairCorr
  0.61JSOCX Jpmorgan Strategic IncomePairCorr
  0.69LSHUX Horizon Spin Off Downward RallyPairCorr
  0.74KNPYX Kinetics Paradigm Downward RallyPairCorr
  0.79OSPPX Oppenheimer Steelpath MlpPairCorr
  0.79SPMPX Invesco Steelpath MlpPairCorr
  0.83MVF Munivest FundPairCorr
  0.74VWILX Vanguard InternationalPairCorr
  0.7EXOSX Overseas Series ClassPairCorr
  0.64BUIIX Buffalo InternationalPairCorr
  0.78MCSFX Mfs Commodity StrategyPairCorr
  0.64BUFIX Buffalo InternationalPairCorr

Moving against Power Mutual Fund

  0.44SMPSX Semiconductor UltrasectorPairCorr
  0.38SMPIX Semiconductor UltrasectorPairCorr
  0.53COSRX Columbia OverseasPairCorr

Related Correlations Analysis

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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   
STSEXSPAXX
AEYXXPBMXX
SPAXXPBMXX
STSEXPBMXX
FMFXXPBMXX
AEAXXPBMXX
  
High negative correlations   
IVMXXELMXX
IVMXXAEAXX
ELMXXAEAXX
IVMXXFMFXX
ELMXXFMFXX
AEAXXFMFXX

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.