Federated Capital Correlations

CAPAX Fund

USD 9.43 0.02 0.21%

The current 90-days correlation between Federated Capital Income and California High Yield Municipal is 0.16 (i.e., Average diversification). The correlation of Federated Capital 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.

Federated Capital Correlation With Market

Almost no diversification

The correlation between Federated Capital Income and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Capital Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Federated Capital Income. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Federated Mutual Fund

0.9	EMDIX	Federated Emerging Market	Pair Corr
0.94	QKACX	Federated Mdt All	Pair Corr
0.9	QKBGX	Federated Mdt Balanced	Pair Corr
0.95	SBFIX	Federated Global All	Pair Corr
0.96	STIAX	Federated Strategic	Pair Corr
0.96	STILX	Federated Strategic	Pair Corr
0.96	STISX	Federated Strategic	Pair Corr
0.95	FSBCX	Federated Global All	Pair Corr
0.95	FSBKX	Federated Global All	Pair Corr
0.89	FSBLX	Federated Global All	Pair Corr
0.96	QLSGX	Federated Mdt Small	Pair Corr
0.94	QLSCX	Federated Mdt Small	Pair Corr
0.88	FSHIX	Federated Short-intermedia	Pair Corr
0.87	INISX	Federated Intermediate	Pair Corr
0.88	FSHSX	Federated Short-intermedia	Pair Corr
0.87	FSILX	Federated Short Term	Pair Corr
0.83	FSTIX	Federated Short Term	Pair Corr
0.93	FSTKX	Federated Mdt Large	Pair Corr
0.93	FSTLX	Federated Mdt Large	Pair Corr
0.93	FSTRX	Federated Mdt Large	Pair Corr
0.88	FSTYX	Federated Short Term	Pair Corr
0.95	FSTBX	Federated Global All	Pair Corr
0.75	PIEFX	Pnc Emerging Markets	Pair Corr
0.88	SVALX	Federated Strategic Value	Pair Corr
0.85	FTIAX	Federated Short Term	Pair Corr
0.88	SVAAX	Federated Strategic Value	Pair Corr
0.88	SVAIX	Federated Strategic Value	Pair Corr
0.77	FTRBX	Federated Total Return	Pair Corr
0.76	FTRFX	Federated Total Return	Pair Corr
0.7	FTRKX	Federated Total Return	Pair Corr
0.76	FTRLX	Federated Total Return	Pair Corr

Moving against Federated Mutual Fund

0.82	PIGDX	Pnc International Growth	Pair Corr
0.82	PIUCX	Pnc International Equity	Pair Corr
0.82	PIUIX	Pnc International Equity	Pair Corr
0.82	BEARX	Federated Prudent Bear	Pair Corr

Related Correlations Analysis

	MSTPX	FYMNX	PRFHX	THYIX	OWCAX	PYUSX	BCHIX
MSTPX		0.94	0.94	0.93	0.66	0.73	0.92	MSTPX
FYMNX	0.94		0.93	0.96	0.57	0.87	0.96	FYMNX
PRFHX	0.94	0.93		0.97	0.69	0.72	0.97	PRFHX
THYIX	0.93	0.96	0.97		0.66	0.76	0.99	THYIX
OWCAX	0.66	0.57	0.69	0.66		0.39	0.65	OWCAX
PYUSX	0.73	0.87	0.72	0.76	0.39		0.81	PYUSX
BCHIX	0.92	0.96	0.97	0.99	0.65	0.81		BCHIX
	MSTPX	FYMNX	PRFHX	THYIX	OWCAX	PYUSX	BCHIX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Capital 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 Federated Capital'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
MSTPX	0.05	0.00	(0.27)	0.00	0.00	(0.11)	0.10	(0.10)	0.40
FYMNX	0.06	0.01	(0.20)	0.59	0.00	(0.13)	0.19	(0.09)	0.65
PRFHX	0.09	0.01	(0.18)	0.16	0.00	(0.15)	0.27	(0.18)	0.81
THYIX	0.07	0.00	(0.15)	0.19	0.00	(0.15)	0.19	(0.19)	0.87
OWCAX	0.06	0.00	(0.15)	(0.05)	0.01	(0.11)	0.10	(0.10)	0.71
PYUSX	0.08	0.00	(0.27)	0.68	0.00	(0.15)	0.21	(0.11)	0.53
BCHIX	0.08	0.00	(0.17)	0.16	0.00	(0.15)	0.21	(0.10)	0.83

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