Federated Max-cap Correlations

FMXSX Fund

USD 7.75 0.04 0.52%

The current 90-days correlation between Federated Max Cap and Columbia Large Cap is 0.53 (i.e., Very weak diversification). The correlation of Federated Max-cap 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 Max-cap Correlation With Market

Modest diversification

The correlation between Federated Max Cap Index and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Max Cap Index 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 Max Cap Index. 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 state.

Moving together with Federated Mutual Fund

0.9	QKACX	Federated Mdt All	Pair Corr
0.65	FRIEX	Federated Hermes Emerging	Pair Corr
0.99	FSTKX	Federated Mdt Large	Pair Corr
0.99	FSTLX	Federated Mdt Large	Pair Corr
0.64	PIEFX	Pnc Emerging Markets	Pair Corr
0.75	PIGDX	Pnc International Growth	Pair Corr
0.87	SVAIX	Federated Strategic Value	Pair Corr
0.88	SVACX	Federated Strategic Value	Pair Corr
0.7	RRFAX	Federated Real Return	Pair Corr
0.7	FCSPX	Federated Porate Bond	Pair Corr
0.8	FUSCX	Federated Fund For	Pair Corr
0.76	FDBCX	Federated Bond	Pair Corr
0.76	FUSGX	Federated Fund For	Pair Corr
0.73	FDBAX	Federated Bond	Pair Corr
0.98	VSFIX	Federated Clover Small	Pair Corr
0.83	PMIEX	Pnc International Equity	Pair Corr
0.65	FGFAX	Federated International	Pair Corr
0.74	FGFSX	Federated Mortgage	Pair Corr
0.99	QRLVX	Federated Mdt Large	Pair Corr
1.0	QABGX	Federated Mdt Balanced	Pair Corr

Moving against Federated Mutual Fund

0.55	FSILX	Federated Short Term	Pair Corr
0.54	FRSAX	Federated Floating Rate	Pair Corr
0.4	FTIAX	Federated Short Term	Pair Corr
0.38	FSGIX	Federated Gov Sec	Pair Corr
0.64	FULAX	Federated Ultrashort Bond	Pair Corr
0.61	FULBX	Federated Ultrashort Bond	Pair Corr
0.65	FHCOX	Federated Hermes Con	Pair Corr
0.53	FGUSX	Federated Government	Pair Corr

Related Correlations Analysis

	NFEPX	NBGPX	444859BR2	AQUI	BRRAY	LBHIX	MSTSX	ABHYX	378272AL2	SCAXF
NFEPX		0.33	-0.25	-0.24	0.41	0.73	-0.09	0.38	0.56	-0.43	NFEPX
NBGPX	0.33		0.04	0.79	-0.51	0.3	0.88	0.76	-0.29	0.46	NBGPX
444859BR2	-0.25	0.04		0.16	-0.25	-0.22	0.12	-0.09	-0.31	0.25	444859BR2
AQUI	-0.24	0.79	0.16		-0.73	-0.21	0.95	0.52	-0.65	0.77	AQUI
BRRAY	0.41	-0.51	-0.25	-0.73		0.43	-0.71	-0.43	0.69	-0.71	BRRAY
LBHIX	0.73	0.3	-0.22	-0.21	0.43		-0.08	0.46	0.6	-0.58	LBHIX
MSTSX	-0.09	0.88	0.12	0.95	-0.71	-0.08		0.61	-0.56	0.75	MSTSX
ABHYX	0.38	0.76	-0.09	0.52	-0.43	0.46	0.61		0.03	0.1	ABHYX
378272AL2	0.56	-0.29	-0.31	-0.65	0.69	0.6	-0.56	0.03		-0.78	378272AL2
SCAXF	-0.43	0.46	0.25	0.77	-0.71	-0.58	0.75	0.1	-0.78		SCAXF
	NFEPX	NBGPX	444859BR2	AQUI	BRRAY	LBHIX	MSTSX	ABHYX	378272AL2	SCAXF

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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

MSTSX	+ 0.95	AQUI
MSTSX	+ 0.88	NBGPX
AQUI	+ 0.79	NBGPX
SCAXF	+ 0.77	AQUI
ABHYX	+ 0.76	NBGPX
SCAXF	+ 0.75	MSTSX

High negative correlations

SCAXF	- 0.78	378272AL2
BRRAY	- 0.73	AQUI
SCAXF	- 0.71	BRRAY
MSTSX	- 0.71	BRRAY
378272AL2	- 0.65	AQUI
SCAXF	- 0.58	LBHIX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Max-cap 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 Max-cap'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
NFEPX	0.96	0.05	(0.01)	0.28	1.34	(0.96)	2.22	(2.35)	6.00
NBGPX	0.46	(0.03)	0.00	(0.06)	0.00	0.00	0.93	(1.17)	3.28
444859BR2	1.32	(0.02)	(0.02)	0.06	2.16	(1.45)	4.99	(4.02)	14.38
AQUI	2.79	(1.41)	0.00	12.41	0.00	0.00	0.00	0.00	93.33
BRRAY	3.35	0.83	0.08	(13.11)	3.56	(10.00)	12.48	(7.26)	59.51
LBHIX	0.14	0.02	(0.23)	1.41	0.00	(0.31)	0.48	(0.24)	1.19
MSTSX	0.56	(0.10)	0.00	3.70	0.00	0.00	0.97	(1.20)	7.06
ABHYX	0.22	0.00	(0.17)	0.15	0.32	(0.30)	0.46	(0.56)	1.92
378272AL2	0.19	0.02	(0.17)	(0.33)	0.36	(0.19)	0.33	(0.26)	2.68
SCAXF	1.61	(0.89)	0.00	(1.58)	0.00	0.00	0.00	0.00	31.33

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