Federated Correlations

FIGKX Fund

USD 9.62 0.03 0.31%

The current 90-days correlation between Federated U S and Locorr Dynamic Equity is 0.18 (i.e., Average diversification). The correlation of Federated 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 Correlation With Market

Significant diversification

The correlation between Federated U S and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated U S 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 U S. 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

0.84	VFISX	Vanguard Short Term	Pair Corr
0.84	VSGBX	Vanguard Short Term	Pair Corr
0.94	FUMBX	Fidelity Short Term	Pair Corr
0.87	ECLDX	Eaton Vance Short	Pair Corr
0.72	EILDX	Eaton Vance Short	Pair Corr

Related Correlations Analysis

	LEQCX	SNPTX	ARTNX	CSPFX	SWSFX	OWFIX	QMNNX
LEQCX		0.76	0.6	0.62	0.26	0.69	0.13	LEQCX
SNPTX	0.76		0.85	0.69	0.18	0.7	0.25	SNPTX
ARTNX	0.6	0.85		0.75	-0.13	0.7	0.02	ARTNX
CSPFX	0.62	0.69	0.75		-0.39	0.8	-0.46	CSPFX
SWSFX	0.26	0.18	-0.13	-0.39		0.02	0.84	SWSFX
OWFIX	0.69	0.7	0.7	0.8	0.02		-0.12	OWFIX
QMNNX	0.13	0.25	0.02	-0.46	0.84	-0.12		QMNNX
	LEQCX	SNPTX	ARTNX	CSPFX	SWSFX	OWFIX	QMNNX

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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

ARTNX	+ 0.85	SNPTX
QMNNX	+ 0.84	SWSFX
OWFIX	+ 0.8	CSPFX
SNPTX	+ 0.76	LEQCX
CSPFX	+ 0.75	ARTNX
OWFIX	+ 0.7	SNPTX

High negative correlations

QMNNX	- 0.46	CSPFX
SWSFX	- 0.39	CSPFX
SWSFX	- 0.13	ARTNX
QMNNX	- 0.12	OWFIX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated 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'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
LEQCX	0.43	0.03	(0.06)	0.17	0.42	(0.47)	0.87	(0.69)	2.97
SNPTX	0.49	0.04	0.00	0.17	0.65	(0.53)	1.01	(0.98)	4.79
ARTNX	0.57	0.06	0.02	0.19	0.62	(0.70)	1.22	(0.94)	5.16
CSPFX	0.67	(0.04)	(0.07)	0.03	0.91	(0.67)	1.57	(1.54)	4.69
SWSFX	0.04	0.00	0.00	0.75	0.00	0.00	0.10	(0.10)	0.59
OWFIX	0.15	(0.01)	(0.38)	(0.11)	0.16	(0.22)	0.30	(0.30)	1.10
QMNNX	0.35	0.12	0.10	1.04	0.00	(0.46)	0.72	(0.50)	2.31

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