Power Of Correlations

PWCDF Stock

USD 40.09 0.51 1.29%

The current 90-days correlation between Power Of and Manulife Financial is 0.1 (i.e., Average diversification). The correlation of Power Of 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.

Power Of Correlation With Market

Significant diversification

The correlation between Power of and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power of and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Power Of could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Power Of when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Power Of - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Power of to buy it.

Moving together with Power Pink Sheet

0.81	TLK	Telkom Indonesia Tbk Earnings Call This Week	Pair Corr
0.79	PTAIF	PT Astra International Earnings Call This Week	Pair Corr
0.68	AXP	American Express	Pair Corr
0.79	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.83	PFE	Pfizer Inc	Pair Corr
0.66	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.68	DIS	Walt Disney	Pair Corr
0.77	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.65	BA	Boeing Earnings Call This Week	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.75	GE	GE Aerospace	Pair Corr
0.75	BAC	Bank of America Aggressive Push	Pair Corr

Moving against Power Pink Sheet

0.4	HPQ	HP Inc	Pair Corr
0.31	PBCRY	Bank Central Asia	Pair Corr

Related Correlations Analysis

	MNUFF	GWLIF	PUK	MFC	NTIOF	NNGRY	IFCZF	SAXPY
MNUFF		0.0	0.69	0.52	0.77	0.76	0.7	0.76	MNUFF
GWLIF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	GWLIF
PUK	0.69	0.0		0.52	0.95	0.93	0.66	0.8	PUK
MFC	0.52	0.0	0.52		0.48	0.51	0.48	0.58	MFC
NTIOF	0.77	0.0	0.95	0.48		0.98	0.75	0.87	NTIOF
NNGRY	0.76	0.0	0.93	0.51	0.98		0.77	0.88	NNGRY
IFCZF	0.7	0.0	0.66	0.48	0.75	0.77		0.63	IFCZF
SAXPY	0.76	0.0	0.8	0.58	0.87	0.88	0.63		SAXPY
	MNUFF	GWLIF	PUK	MFC	NTIOF	NNGRY	IFCZF	SAXPY

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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

NNGRY	+ 0.98	NTIOF
NTIOF	+ 0.95	PUK
NNGRY	+ 0.93	PUK
SAXPY	+ 0.88	NNGRY
SAXPY	+ 0.87	NTIOF
SAXPY	+ 0.8	PUK

High negative correlations

SAXPY	- 0.0	GWLIF
IFCZF	- 0.0	GWLIF
NNGRY	- 0.0	GWLIF
NTIOF	- 0.0	GWLIF
MFC	- 0.0	GWLIF
PUK	- 0.0	GWLIF

Risk-Adjusted Indicators

There is a big difference between Power Pink Sheet performing well and Power Of Company 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 Of'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
MNUFF	0.28	0.06	0.00	(0.74)	0.00	0.00	0.00	0.00	11.80
GWLIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PUK	1.12	0.19	0.14	0.42	0.80	(1.40)	2.57	(1.55)	5.65
MFC	0.90	(0.05)	(0.03)	0.12	1.13	(0.98)	2.36	(1.72)	6.81
NTIOF	0.76	0.34	0.17	1.84	0.59	(0.89)	2.18	(0.92)	8.52
NNGRY	0.74	0.27	0.13	3.45	0.52	(0.86)	1.42	(1.36)	7.83
IFCZF	0.91	0.12	(0.05)	(0.96)	1.16	(0.96)	1.66	(1.63)	5.14
SAXPY	0.72	0.19	0.06	1.18	0.64	(0.84)	2.25	(1.47)	4.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in Power Of without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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