Power Momentum Correlations

MOJCX Fund

USD 12.77 0.03 0.23%

The current 90-days correlation between Power Momentum Index and Ab Bond Inflation is 0.04 (i.e., Significant diversification). The correlation of Power Momentum 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 Momentum Correlation With Market

Poor diversification

The correlation between Power Momentum Index and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Momentum Index and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Power Momentum 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 main economic indicators.

Moving together with Power Mutual Fund

1.0	MOJAX	Power Momentum Index	Pair Corr
1.0	MOJOX	Power Momentum Index	Pair Corr
0.86	GTAAX	Power Global Tactical	Pair Corr
0.85	GTAIX	Power Global Tactical	Pair Corr
0.61	ABRIX	Invesco Balanced Risk	Pair Corr
0.93	CISGX	Touchstone Sands Capital	Pair Corr

Moving against Power Mutual Fund

0.43	ASBFX	Short Term Bond	Pair Corr
0.4	FXIDX	Fixed Income Shares	Pair Corr

Related Correlations Analysis

	ABNYX	ANBIX	FLIBX	TIIHX	MIPSX	ABNCX	TIKPX
ABNYX		1.0	0.97	1.0	0.97	0.98	1.0	ABNYX
ANBIX	1.0		0.97	1.0	0.97	0.98	1.0	ANBIX
FLIBX	0.97	0.97		0.98	0.99	0.99	0.98	FLIBX
TIIHX	1.0	1.0	0.98		0.97	0.98	1.0	TIIHX
MIPSX	0.97	0.97	0.99	0.97		0.99	0.97	MIPSX
ABNCX	0.98	0.98	0.99	0.98	0.99		0.98	ABNCX
TIKPX	1.0	1.0	0.98	1.0	0.97	0.98		TIKPX
	ABNYX	ANBIX	FLIBX	TIIHX	MIPSX	ABNCX	TIKPX

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Risk-Adjusted Indicators

There is a big difference between Power Mutual Fund performing well and Power Momentum 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 Momentum'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
ABNYX	0.16	0.01	0.40	(0.45)	0.10	(0.19)	0.38	(0.29)	0.86
ANBIX	0.16	0.01	0.38	(0.46)	0.09	(0.21)	0.38	(0.38)	0.98
FLIBX	0.22	0.02	0.29	0.38	0.20	(0.27)	0.44	(0.53)	1.43
TIIHX	0.16	0.01	0.40	(0.32)	0.10	(0.18)	0.29	(0.29)	1.04
MIPSX	0.23	0.02	0.30	0.37	0.20	(0.26)	0.43	(0.44)	1.38
ABNCX	0.16	0.02	0.43	0.62	0.06	(0.20)	0.30	(0.30)	0.90
TIKPX	0.15	0.01	0.40	(0.39)	0.08	(0.19)	0.37	(0.29)	0.85

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