Federated Bond Correlations

FDBCX Fund

USD 8.30 0.02 0.24%

The current 90-days correlation between Federated Bond and Semiconductor Ultrasector Profund is -0.01 (i.e., Good diversification). The correlation of Federated Bond 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 Bond Correlation With Market

Average diversification

The correlation between Federated Bond Fund and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Bond Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Federated Bond Fund. 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 main economic indicators.

Moving together with Federated Mutual Fund

0.79	EMDIX	Federated Emerging Market	Pair Corr
0.68	QKACX	Federated Mdt All	Pair Corr
0.75	QKBGX	Federated Mdt Balanced	Pair Corr
0.74	SBFIX	Federated Global All	Pair Corr
0.64	FRIEX	Federated Hermes Emerging	Pair Corr
0.91	STFSX	Federated Strategic	Pair Corr
0.91	STIAX	Federated Strategic	Pair Corr
0.88	STILX	Federated Strategic	Pair Corr
0.8	STISX	Federated Strategic	Pair Corr
0.82	FSBCX	Federated Global All	Pair Corr
0.75	FSBKX	Federated Global All	Pair Corr
0.74	FSBLX	Federated Global All	Pair Corr
0.63	FSHIX	Federated Short-intermedia	Pair Corr
0.85	INISX	Federated Intermediate	Pair Corr
0.63	FSHSX	Federated Short Inte	Pair Corr
0.63	FSTKX	Federated Mdt Large	Pair Corr
0.63	FSTLX	Federated Mdt Large	Pair Corr
0.63	FSTRX	Federated Mdt Large	Pair Corr
0.74	FSTBX	Federated Global All	Pair Corr
0.64	PIEFX	Pnc Emerging Markets	Pair Corr
0.87	PIGDX	Pnc International Growth	Pair Corr
0.85	FTIBX	Federated Global Total	Pair Corr
0.85	FTIIX	Federated Global Total	Pair Corr
0.98	FTGLX	Federated Total Return	Pair Corr
0.9	FTGSX	Federated Total Return	Pair Corr
0.79	PIUCX	Pnc International Equity	Pair Corr
0.79	PIUIX	Pnc International Equity	Pair Corr

Moving against Federated Mutual Fund

0.36	FRSAX	Federated Floating Rate	Pair Corr
0.33	FULAX	Federated Ultrashort Bond	Pair Corr

Related Correlations Analysis

	SMPIX	VOLMX	OPTCX	RSPKX	MSSGX	IIFTX	RETSX
SMPIX		0.71	-0.42	0.44	-0.38	-0.02	0.13	SMPIX
VOLMX	0.71		-0.13	0.88	-0.07	0.34	0.51	VOLMX
OPTCX	-0.42	-0.13		0.03	0.95	0.78	0.68	OPTCX
RSPKX	0.44	0.88	0.03		0.03	0.5	0.65	RSPKX
MSSGX	-0.38	-0.07	0.95	0.03		0.75	0.63	MSSGX
IIFTX	-0.02	0.34	0.78	0.5	0.75		0.95	IIFTX
RETSX	0.13	0.51	0.68	0.65	0.63	0.95		RETSX
	SMPIX	VOLMX	OPTCX	RSPKX	MSSGX	IIFTX	RETSX

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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

MSSGX	+ 0.95	OPTCX
RETSX	+ 0.95	IIFTX
RSPKX	+ 0.88	VOLMX
IIFTX	+ 0.78	OPTCX
IIFTX	+ 0.75	MSSGX
VOLMX	+ 0.71	SMPIX

High negative correlations

OPTCX	- 0.42	SMPIX
MSSGX	- 0.38	SMPIX
OPTCX	- 0.13	VOLMX
MSSGX	- 0.07	VOLMX
IIFTX	- 0.02	SMPIX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Bond 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 Bond'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
SMPIX	2.68	(0.16)	0.00	(0.13)	0.00	0.00	4.94	(6.36)	19.55
VOLMX	0.69	(0.09)	0.00	(0.17)	0.00	0.00	1.05	(1.35)	10.00
OPTCX	0.14	0.02	0.01	0.78	0.00	(0.20)	0.31	(0.31)	1.35
RSPKX	0.84	(0.07)	0.00	(0.11)	0.00	0.00	1.58	(1.62)	12.36
MSSGX	1.57	0.40	0.21	0.83	1.54	(1.97)	3.81	(2.32)	11.74
IIFTX	0.28	0.01	(0.02)	0.33	0.42	(0.27)	0.50	(0.50)	2.36
RETSX	0.55	0.02	0.00	0.39	0.80	(0.56)	1.19	(1.46)	5.40

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