Power Dividend Correlations
| PWDIX Fund | USD 9.17 0.46 4.78% |
The current 90-days correlation between Power Dividend Index and Guggenheim Managed Futures is 0.08 (i.e., Significant 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
Average diversification
The correlation between Power Dividend Index and DJI is 0.18 (i.e., Average 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.
Power |
Moving together with Power Mutual Fund
| 0.71 | MOJAX | Power Momentum Index | PairCorr |
| 0.71 | MOJOX | Power Momentum Index | PairCorr |
| 0.88 | GTAAX | Power Global Tactical | PairCorr |
| 0.88 | GTAIX | Power Global Tactical | PairCorr |
| 1.0 | PWDAX | Power Dividend Index | PairCorr |
| 1.0 | PWDCX | Power Dividend Index | PairCorr |
| 0.62 | VSTSX | Vanguard Total Stock | PairCorr |
| 0.62 | VSMPX | Vanguard Total Stock | PairCorr |
| 0.62 | VITSX | Vanguard Total Stock | PairCorr |
| 0.61 | VFFSX | Vanguard 500 Index | PairCorr |
| 0.61 | VFIAX | Vanguard 500 Index | PairCorr |
| 0.61 | VINIX | Vanguard Institutional | PairCorr |
| 0.62 | VTSAX | Vanguard Total Stock | PairCorr |
| 0.9 | VVIAX | Vanguard Value Index | PairCorr |
| 0.77 | AIVSX | Investment Of America | PairCorr |
| 0.78 | VMCIX | Vanguard Mid Cap | PairCorr |
| 0.63 | JHTRX | Jpmorgan Hedged Equity | PairCorr |
| 0.73 | SCQGX | Deutsche Large Cap | PairCorr |
| 0.65 | AMECX | Income Fund | PairCorr |
| 0.76 | DFFVX | Us Targeted Value | PairCorr |
| 0.7 | RNGBX | New Economy Fund | PairCorr |
| 0.71 | BRAGX | Aggressive Investors | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| RYIFX | 0.51 | (0.08) | 0.00 | (0.42) | 0.00 | 0.92 | 5.83 | |||
| GGJPX | 0.21 | (0.06) | 0.00 | (0.67) | 0.00 | 0.32 | 1.25 | |||
| GPMFX | 0.43 | (0.06) | 0.00 | (0.17) | 0.00 | 0.76 | 2.31 | |||
| FIBLX | 0.25 | (0.10) | 0.00 | (0.44) | 0.00 | 0.32 | 3.42 | |||
| ANBIX | 0.16 | (0.05) | 0.00 | (0.91) | 0.00 | 0.29 | 0.87 | |||
| SLFYX | 0.20 | (0.04) | 0.00 | (29.38) | 0.00 | 0.38 | 1.12 | |||
| LIPNX | 0.22 | (0.07) | 0.00 | (1.31) | 0.00 | 0.31 | 1.36 |