Power Global Correlations

GTAIX Fund

USD 11.34 0.05 0.44%

The current 90-days correlation between Power Global Tactical and Growth Allocation Fund is -0.11 (i.e., Good 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

Good diversification

The correlation between Power Global Tactical and DJI is -0.12 (i.e., Good 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 gross domestic product.

Moving together with Power Mutual Fund

0.96	PWRAX	Power Income	Pair Corr
0.93	PWRCX	Power Income	Pair Corr
0.95	PWRIX	Power Income	Pair Corr
0.98	MOJCX	Power Momentum Index	Pair Corr
0.98	MOJAX	Power Momentum Index	Pair Corr
0.98	MOJOX	Power Momentum Index	Pair Corr
0.91	FLOTX	Power Floating Rate	Pair Corr
1.0	GTAAX	Power Global Tactical	Pair Corr
0.97	PWDAX	Power Dividend Index	Pair Corr
0.97	PWDCX	Power Dividend Index	Pair Corr
0.97	PWDIX	Power Dividend Index	Pair Corr
0.96	PAALX	All Asset Fund	Pair Corr
0.96	PATRX	Pimco All Asset	Pair Corr
0.96	PAAIX	All Asset Fund	Pair Corr
0.96	PALPX	Pimco All Asset	Pair Corr
0.94	PASAX	All Asset Fund	Pair Corr
0.96	PASCX	All Asset Fund	Pair Corr
0.96	PAANX	Pimco All Asset	Pair Corr
0.93	PAUPX	Pimco All Asset	Pair Corr
0.93	PAUIX	Pimco All Asset	Pair Corr
0.97	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.97	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.81	EMO	Clearbridge Energy Mlp	Pair Corr
0.69	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.69	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.97	RSNYX	Victory Global Natural	Pair Corr
0.72	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.98	RSNRX	Victory Global Natural	Pair Corr
0.72	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.99	FEYIX	Fidelity Asset Manager	Pair Corr
0.98	JHBJX	John Hancock Funds	Pair Corr
0.65	EQCDX	Equalize Community	Pair Corr
0.98	TLYRX	Tiaa Cref Lifecycle	Pair Corr
0.97	MSAAX	Active International	Pair Corr
0.91	RSPYX	Victory Rs Partners	Pair Corr
0.73	FREAX	Nuveen Real Estate	Pair Corr

Moving against Power Mutual Fund

0.87

ABPRX

Ab Large Cap

Pair Corr

Related Correlations Analysis

	GGRYX	DFELX	GMLVX	PLAAX	TRSAX	TRBCX	LCIAX	TAAKX
GGRYX		1.0	0.99	0.98	0.99	0.98	0.98	1.0	GGRYX
DFELX	1.0		0.98	0.98	1.0	0.98	0.99	1.0	DFELX
GMLVX	0.99	0.98		0.97	0.98	0.97	0.97	0.98	GMLVX
PLAAX	0.98	0.98	0.97		0.98	1.0	1.0	0.98	PLAAX
TRSAX	0.99	1.0	0.98	0.98		0.99	0.98	1.0	TRSAX
TRBCX	0.98	0.98	0.97	1.0	0.99		1.0	0.98	TRBCX
LCIAX	0.98	0.99	0.97	1.0	0.98	1.0		0.98	LCIAX
TAAKX	1.0	1.0	0.98	0.98	1.0	0.98	0.98		TAAKX
	GGRYX	DFELX	GMLVX	PLAAX	TRSAX	TRBCX	LCIAX	TAAKX

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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
GGRYX	0.40	0.09	0.06	0.30	0.15	(0.49)	1.29	(0.97)	2.84
DFELX	0.68	0.11	0.11	0.25	0.59	(0.80)	2.13	(1.12)	5.14
GMLVX	0.50	0.20	0.17	0.61	0.00	(0.64)	1.55	(1.08)	4.06
PLAAX	0.66	0.24	0.12	(3.02)	0.52	(0.75)	1.94	(1.09)	4.32
TRSAX	0.81	0.17	0.17	0.30	0.64	(0.96)	2.41	(1.33)	5.43
TRBCX	0.84	0.32	0.17	(5.78)	0.69	(0.98)	2.50	(1.34)	5.73
LCIAX	0.66	0.26	0.13	(2.91)	0.55	(0.72)	2.06	(1.14)	4.96
TAAKX	0.58	0.14	0.13	0.31	0.36	(0.72)	1.77	(1.19)	3.95

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