Federated Government Correlations

FITSX Fund

USD 9.14 0.01 0.11%

The current 90-days correlation between Federated Government and Cullen Enhanced Equity is 0.25 (i.e., Modest diversification). The correlation of Federated Government 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 Government Correlation With Market

Average diversification

The correlation between Federated Government Income and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Government 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 Government 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

0.61	STISX	Federated Strategic	Pair Corr
0.69	INISX	Federated Intermediate	Pair Corr
0.91	FTGLX	Federated Total Return	Pair Corr
0.67	FTRBX	Federated Total Return	Pair Corr

Related Correlations Analysis

	ENHRX	BWG	MHF	NRO	PFD	HFSAX	DNMDX	JHS	MECDX	ETCTX
ENHRX		0.35	-0.19	-0.56	0.37	0.09	0.78	0.23	0.84	0.36	ENHRX
BWG	0.35		0.19	0.31	0.5	-0.14	-0.1	0.41	0.33	-0.35	BWG
MHF	-0.19	0.19		0.35	-0.18	-0.01	-0.35	-0.04	-0.16	-0.07	MHF
NRO	-0.56	0.31	0.35		0.17	-0.33	-0.69	0.15	-0.49	-0.38	NRO
PFD	0.37	0.5	-0.18	0.17		-0.12	0.16	0.25	0.37	-0.08	PFD
HFSAX	0.09	-0.14	-0.01	-0.33	-0.12		0.38	-0.47	0.24	0.59	HFSAX
DNMDX	0.78	-0.1	-0.35	-0.69	0.16	0.38		-0.1	0.79	0.77	DNMDX
JHS	0.23	0.41	-0.04	0.15	0.25	-0.47	-0.1		0.0	-0.4	JHS
MECDX	0.84	0.33	-0.16	-0.49	0.37	0.24	0.79	0.0		0.47	MECDX
ETCTX	0.36	-0.35	-0.07	-0.38	-0.08	0.59	0.77	-0.4	0.47		ETCTX
	ENHRX	BWG	MHF	NRO	PFD	HFSAX	DNMDX	JHS	MECDX	ETCTX

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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

MECDX	+ 0.84	ENHRX
MECDX	+ 0.79	DNMDX
DNMDX	+ 0.78	ENHRX
ETCTX	+ 0.77	DNMDX
ETCTX	+ 0.59	HFSAX
PFD	+ 0.5	BWG

High negative correlations

DNMDX	- 0.69	NRO
NRO	- 0.56	ENHRX
MECDX	- 0.49	NRO
JHS	- 0.47	HFSAX
ETCTX	- 0.4	JHS
ETCTX	- 0.38	NRO

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Government 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 Government'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
ENHRX	0.50	0.00	(0.06)	0.07	0.52	(0.60)	1.11	(1.05)	2.83
BWG	0.49	(0.06)	0.00	(0.07)	0.00	0.00	0.99	(0.95)	3.12
MHF	0.53	(0.04)	0.00	(0.31)	0.00	0.00	0.87	(1.14)	4.37
NRO	0.60	(0.06)	0.00	(0.90)	0.00	0.00	1.32	(1.01)	3.30
PFD	0.37	0.04	(0.08)	(1.00)	0.32	(0.48)	1.11	(0.68)	2.39
HFSAX	0.38	(0.10)	0.00	(0.20)	0.00	0.00	0.48	(0.47)	6.98
DNMDX	0.06	0.02	(0.62)	1.59	0.00	(0.08)	0.17	(0.10)	0.31
JHS	0.37	0.02	(0.09)	(0.13)	0.53	(0.40)	0.87	(0.96)	2.92
MECDX	0.71	0.14	0.10	0.89	0.64	(0.77)	1.16	(1.19)	9.75
ETCTX	0.07	0.02	(0.36)	1.70	0.00	(0.16)	0.21	(0.10)	0.53

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