Power Global Correlations

GLACX Fund

USD 10.70 0.13 1.20%

The current 90-days correlation between Power Global Tactical and Barings Global Floating is 0.1 (i.e., Average diversification). The correlation of Power Global 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 Global Correlation With Market

Poor diversification

The correlation between Power Global Tactical and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Global Tactical and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Power Global Tactical. 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 main economic indicators.

Moving together with Power Mutual Fund

0.78	FLOAX	Power Floating Rate	Pair Corr
0.83	PAALX	All Asset Fund	Pair Corr
0.82	PATRX	Pimco All Asset	Pair Corr
0.83	PAAIX	All Asset Fund	Pair Corr
0.82	PALPX	Pimco All Asset	Pair Corr
0.73	PASAX	All Asset Fund	Pair Corr
0.82	PASCX	All Asset Fund	Pair Corr
0.83	PAANX	Pimco All Asset	Pair Corr
0.75	PAUPX	Pimco All Asset	Pair Corr
0.67	PAUIX	Pimco All Asset	Pair Corr
0.92	ABRIX	Invesco Balanced Risk	Pair Corr
0.62	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.67	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.63	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.63	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.65	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.78	TGWNX	Tcw Emerging Markets	Pair Corr
0.69	EIHIX	Eaton Vance High	Pair Corr
0.7	TEFTX	Templeton Foreign	Pair Corr
0.86	MDEFX	Blackrock Eurofd	Pair Corr
0.71	JIESX	Jpmorgan International	Pair Corr
0.84	SVXAX	Smead Funds Trust	Pair Corr
0.72	TGVIX	Thornburg International	Pair Corr
0.74	WCPIX	Mobile Telecommunicatio	Pair Corr
0.64	MIXNX	Mainstay Indexed Bond	Pair Corr
0.74	RLCIX	Lazard Corporate Income	Pair Corr
0.87	FIATX	Fidelity Advisor Int	Pair Corr
0.71	RIGEX	International Growth And	Pair Corr
0.83	GRRTX	Goldman Sachs Absolute	Pair Corr

Moving against Power Mutual Fund

0.31	SMPIX	Semiconductor Ultrasector	Pair Corr
0.31	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	BXFIX	GMADX	PEIEX	MFIRX	WRLDX	DBLGX	MGGNX
BXFIX		0.56	0.08	0.78	0.13	0.09	-0.06	BXFIX
GMADX	0.56		0.41	0.71	0.65	0.56	0.31	GMADX
PEIEX	0.08	0.41		0.33	0.72	0.54	0.31	PEIEX
MFIRX	0.78	0.71	0.33		0.55	0.58	0.4	MFIRX
WRLDX	0.13	0.65	0.72	0.55		0.9	0.69	WRLDX
DBLGX	0.09	0.56	0.54	0.58	0.9		0.84	DBLGX
MGGNX	-0.06	0.31	0.31	0.4	0.69	0.84		MGGNX
	BXFIX	GMADX	PEIEX	MFIRX	WRLDX	DBLGX	MGGNX

Click cells to compare fundamentals

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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

DBLGX	+ 0.9	WRLDX
MGGNX	+ 0.84	DBLGX
MFIRX	+ 0.78	BXFIX
WRLDX	+ 0.72	PEIEX
MFIRX	+ 0.71	GMADX
MGGNX	+ 0.69	WRLDX

High negative correlations

MGGNX

- 0.06

BXFIX

Risk-Adjusted Indicators

There is a big difference between Power Mutual Fund performing well and Power Global 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 Global'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
BXFIX	0.09	0.01	0.71	(2.04)	0.00	(0.26)	0.23	(0.12)	0.93
GMADX	0.62	0.05	0.07	0.02	1.28	(0.60)	1.00	(1.19)	11.02
PEIEX	0.71	(0.06)	0.00	(0.68)	0.00	0.00	1.20	(0.95)	12.51
MFIRX	0.11	0.03	0.44	(0.69)	0.00	(0.21)	0.19	(0.19)	0.77
WRLDX	0.53	(0.02)	0.00	0.45	0.00	0.00	0.94	(1.14)	3.19
DBLGX	0.24	0.02	0.33	0.13	0.20	(0.34)	0.60	(0.36)	1.32
MGGNX	0.19	0.00	0.35	(0.03)	0.17	(0.27)	0.35	(0.35)	1.05

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