Federated Max-cap Correlations

Mutual Funds . USA . 
Fund . Federated Max Cap Index
FMXSX Fund  USD 8.63  0.07  0.82%   
The current 90-days correlation between Federated Max Cap and Ab Global Risk is 0.71 (i.e., Poor 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

Very poor diversification

The correlation between Federated Max Cap Index and DJI is 0.83 (i.e., Very poor 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

  0.99QKACX Federated Mdt AllPairCorr
  0.98QKBGX Federated Mdt BalancedPairCorr
  0.81SBFIX Federated Global AllPairCorr
  0.84FRSAX Federated Floating RatePairCorr
  0.78FSBCX Federated Global AllPairCorr
  0.79FSBKX Federated Global AllPairCorr
  0.82FSBLX Federated Global AllPairCorr
  0.93QLSGX Federated Mdt SmallPairCorr
  0.93QLSCX Federated Mdt SmallPairCorr
  0.97FSTKX Federated Mdt LargePairCorr
  0.97FSTLX Federated Mdt LargePairCorr
  0.97FSTRX Federated Mdt LargePairCorr
  0.8FSTBX Federated Global AllPairCorr
  0.84SVALX Federated Strategic ValuePairCorr
  0.84SVAAX Federated Strategic ValuePairCorr
  0.83SVAIX Federated Strategic ValuePairCorr
  0.82SVACX Federated Strategic ValuePairCorr

Moving against Federated Mutual Fund

  0.62INISX Federated IntermediatePairCorr
  0.57FSGVX Federated U SPairCorr
  0.57FSGIX Federated Gov SecPairCorr
  1.0BEARX Federated Prudent BearPairCorr
  0.77FTGSX Federated Total ReturnPairCorr
  0.76FTGLX Federated Total ReturnPairCorr
  0.76FTRGX Federated Total ReturnPairCorr
  0.75FUSCX Federated Fund ForPairCorr
  0.74FTIBX Federated Global TotalPairCorr
  0.74FTRKX Federated Total ReturnPairCorr
  0.73FTIIX Federated Global TotalPairCorr
  0.73FCBRX Federated HermesPairCorr

Related Correlations Analysis

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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.

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