Power Dividend Correlations

Mutual Funds . USA . 
Fund . Power Dividend Index
PWDAX Fund  USD 9.99  0.01  0.10%   
The current 90-days correlation between Power Dividend Index and Power Income Fund is 0.5 (i.e., Very weak 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

Very poor diversification

The correlation between Power Dividend Index and DJI is 0.85 (i.e., Very poor 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.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Power Dividend 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 nation.

Moving together with Power Mutual Fund

  0.95PWRAX Power IncomePairCorr
  0.94PWRCX Power IncomePairCorr
  0.95PWRIX Power IncomePairCorr
  0.97MOJCX Power Momentum IndexPairCorr
  0.97MOJAX Power Momentum IndexPairCorr
  0.97MOJOX Power Momentum IndexPairCorr
  0.92FLOTX Power Floating RatePairCorr
  0.99GTAAX Power Global TacticalPairCorr
  0.99GTAIX Power Global TacticalPairCorr
  1.0PWDCX Power Dividend IndexPairCorr
  1.0PWDIX Power Dividend IndexPairCorr
  0.64PAALX All Asset FundPairCorr
  0.64PATRX Pimco All AssetPairCorr
  0.64PAAIX All Asset FundPairCorr
  0.64PALPX Pimco All AssetPairCorr
  0.65PASAX All Asset FundPairCorr
  0.65PASCX All Asset FundPairCorr
  0.72PAANX Pimco All AssetPairCorr
  0.62PAUPX Pimco All AssetPairCorr
  0.69PAUIX Pimco All AssetPairCorr
  0.96SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.69SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.7RSNYX Victory Global NaturalPairCorr
  0.71RSNRX Victory Global NaturalPairCorr
  0.98FIJKX Fidelity Advisor FreedomPairCorr
  0.66FRHIX Franklin High YieldPairCorr
  0.67JTSYX Jpmorgan SmartretirementPairCorr
  0.99MDAAX Mainstay Moderate EtfPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.9BTFRX Bts Tactical FixedPairCorr
  0.98POGCX Putnam Growth OpportPairCorr

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWRAX  0.06  0.01 (0.79) 0.31  0.00 
(0.12)
 0.11 
(0.11)
 0.56 
PWRCX  0.05  0.01  0.00  0.37  0.00 
 0.00 
 0.11 
(0.11)
 0.34 
PWRIX  0.06  0.01 (0.79) 0.31  0.00 
(0.13)
 0.11 
(0.11)
 0.56 
MOJCX  0.71  0.17  0.17  0.36  0.50 
(0.83)
 1.95 
(1.23)
 4.42 
MOJAX  0.71  0.18  0.16  0.36  0.52 
(0.83)
 2.05 
(1.21)
 4.35 
MOJOX  0.71  0.18  0.17  0.36  0.52 
(0.85)
 2.01 
(1.31)
 4.39 
FLOTX  0.07  0.02 (0.65) 0.62  0.00 
(0.13)
 0.11 
(0.11)
 0.66 
GTAAX  0.40  0.10  0.06  0.31  0.03 
(0.51)
 1.20 
(0.61)
 3.44 
GTAIX  0.41  0.09  0.06  0.31  0.10 
(0.51)
 1.20 
(0.62)
 3.27 
PWDAX  0.67  0.09  0.07  0.23  0.60 
(0.83)
 1.63 
(1.26)
 5.57 

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