Federated High Correlations

Mutual Funds . USA . 
Fund . Federated High Income
FHBRX Fund  USD 6.91  0.01  0.14%   
The current 90-days correlation between Federated High Income and Rbb Fund is 0.67 (i.e., Poor diversification). The correlation of Federated High 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 High Correlation With Market

Almost no diversification

The correlation between Federated High Income and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated High Income 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 High Income. 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 real.

Moving together with Federated Mutual Fund

  0.98STISX Federated StrategicPairCorr
  0.89FSTBX Federated Global AllPairCorr
  0.69PIEFX Pnc Emerging MarketsPairCorr
  0.68FCSPX Federated Porate BondPairCorr
  0.91FULAX Federated Ultrashort BondPairCorr
  0.7QALGX Federated Mdt LargePairCorr
  0.9ICBRX Federated Hermes IntPairCorr
  0.89FHCOX Federated Hermes ConPairCorr
  0.98FHTIX Federated High YieldPairCorr
  0.85FICMX Federated GovernmentPairCorr
  0.95FIHBX Federated InstitutionalPairCorr
  0.91MXCCX Federated Max CapPairCorr
  0.96AHTCX American High IncomePairCorr
  0.95BHYCX Blackrock Hi YldPairCorr
  0.97BHYIX Blackrock High YieldPairCorr
  0.97BHYSX Blackrock Hi YldPairCorr
  0.96BHYAX Blackrock High YieldPairCorr
  0.97AHTFX American High IncomePairCorr
  0.96AHITX American High IncomePairCorr
  0.98VWEHX Vanguard High YieldPairCorr
  0.98VWEAX Vanguard High YieldPairCorr
  0.94PHYZX Prudential High YieldPairCorr
  0.94EKWDX Wells Fargo AdvantagePairCorr
  0.9PMPIX Precious Metals Ultr Steady GrowthPairCorr
  0.73FGEMX Fidelity Advisor ComPairCorr
  0.77SEMTX Hartford SchrodersPairCorr
  0.93ETHSX Eaton Vance WorldwidePairCorr
  0.89PRSCX T Rowe PricePairCorr
  0.88OIDAX Oppenheimer InternationalPairCorr
  0.78MLCPX Maingate MlpPairCorr

Moving against Federated Mutual Fund

  0.86PIGDX Pnc International GrowthPairCorr
  0.85KLCAX Federated Kaufmann LargePairCorr
  0.84PIUIX Pnc International EquityPairCorr
  0.84PMIEX Pnc International EquityPairCorr
  0.32CISGX Touchstone Sands CapitalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated High 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 High'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.

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