Federated High Correlations

Mutual Funds . USA . 
Fund . Federated High Income
FHISX Fund  USD 6.89  0.01  0.14%   
The current 90-days correlation between Federated High Income and Fidelity Freedom Index is 0.58 (i.e., Very weak 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 main economic indicators.

Moving together with Federated Mutual Fund

  0.9EMDIX Federated Emerging MarketPairCorr
  0.93QKACX Federated Mdt AllPairCorr
  0.91QKBGX Federated Mdt BalancedPairCorr
  0.89SBFIX Federated Global AllPairCorr
  0.71FRIEX Federated Hermes EmergingPairCorr
  0.97STFSX Federated StrategicPairCorr
  0.95STIAX Federated StrategicPairCorr
  0.97STILX Federated StrategicPairCorr
  0.97STISX Federated StrategicPairCorr
  0.87FRSAX Federated Floating RatePairCorr
  0.89FSBCX Federated Global AllPairCorr
  0.89FSBKX Federated Global AllPairCorr
  0.88FSBLX Federated Global AllPairCorr
  0.93QLSGX Federated Mdt SmallPairCorr
  0.93QLSCX Federated Mdt SmallPairCorr
  0.9FSHIX Federated Short-intermediaPairCorr
  0.89INISX Federated IntermediatePairCorr
  0.9FSHSX Federated Short IntePairCorr
  0.95FSILX Federated Short TermPairCorr
  0.93FSTIX Federated Short TermPairCorr
  0.94FSTKX Federated Mdt LargePairCorr
  0.95FSTLX Federated Mdt LargePairCorr
  0.94FSTRX Federated Mdt LargePairCorr
  0.95FSTYX Federated Short TermPairCorr
  0.86FSTBX Federated Global AllPairCorr
  0.71PIEFX Pnc Emerging MarketsPairCorr
  0.87SVALX Federated Strategic ValuePairCorr
  0.94FTIAX Federated Short TermPairCorr
  0.88SVAAX Federated Strategic ValuePairCorr
  0.87SVAIX Federated Strategic ValuePairCorr
  0.88SVACX Federated Strategic ValuePairCorr
  0.77FTRBX Federated Total ReturnPairCorr

Moving against Federated Mutual Fund

  0.86PIGDX Pnc International GrowthPairCorr
  0.84PIUCX Pnc International EquityPairCorr
  0.84PIUIX Pnc International EquityPairCorr
  0.31RRFCX Federated Real ReturnPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TSBIX  0.13  0.00 (0.29)(0.03) 0.11 
(0.17)
 0.22 
(0.33)
 0.66 
TSBPX  0.13 (0.01)(0.30)(0.06) 0.12 
(0.18)
 0.22 
(0.33)
 0.66 
TNIBX  0.06  0.00 (0.37) 0.20  0.05 
(0.14)
 0.12 
(0.12)
 0.70 
YACKX  0.70  0.38  0.64  1.67  0.00 
(0.93)
 1.08 
(0.78)
 14.70 
SWSSX  0.90  0.03  0.03  0.09  1.07 
(0.93)
 1.92 
(1.85)
 4.65 
NSTLX  0.12  0.01 (0.26) 0.30  0.00 
(0.18)
 0.29 
(0.20)
 0.89 
DEMAX  1.42  0.47  0.24  1.20  1.29 
(1.53)
 3.49 
(2.60)
 7.87 
FZAJX  0.71  0.05  0.04  0.12  0.88 
(0.73)
 1.54 
(1.61)
 3.83 
BGKEX  0.75  0.12  0.10  0.24  0.82 
(0.85)
 2.02 
(1.82)
 4.73 
FPIFX  0.25  0.00 (0.09) 0.05  0.29 
(0.28)
 0.54 
(0.54)
 1.53 

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