Federated Ultrashort Correlations

Mutual Funds . USA . 
Fund . Federated Ultrashort Bond
FULBX Fund  USD 9.28  0.01  0.11%   
The current 90-days correlation between Federated Ultrashort Bond and Fidelity Sai Convertible is -0.1 (i.e., Good diversification). The correlation of Federated Ultrashort 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 Ultrashort Correlation With Market

Average diversification

The correlation between Federated Ultrashort Bond and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Ultrashort Bond 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 Ultrashort Bond. 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 bureau of labor statistics.

Moving together with Federated Mutual Fund

  0.75QKACX Federated Mdt AllPairCorr
  0.71QKBGX Federated Mdt BalancedPairCorr
  0.9FRSAX Federated Floating RatePairCorr
  0.65QLSGX Federated Mdt SmallPairCorr
  0.65QLSCX Federated Mdt SmallPairCorr
  0.75FSTKX Federated Mdt LargePairCorr
  0.75FSTLX Federated Mdt LargePairCorr
  0.75FSTRX Federated Mdt LargePairCorr
  0.73SVALX Federated Strategic ValuePairCorr
  0.72SVAAX Federated Strategic ValuePairCorr
  0.72SVAIX Federated Strategic ValuePairCorr
  0.7SVACX Federated Strategic ValuePairCorr

Moving against Federated Mutual Fund

  0.54FTIBX Federated Global TotalPairCorr
  0.51FTIIX Federated Global TotalPairCorr
  0.49FTGLX Federated Total ReturnPairCorr
  0.52FCBRX Federated HermesPairCorr
  0.5FTGSX Federated Total ReturnPairCorr
  0.49PIUCX Pnc International EquityPairCorr
  0.47FTRKX Federated Total ReturnPairCorr
  0.46PIUIX Pnc International EquityPairCorr
  0.45FTRFX Federated Total ReturnPairCorr

Related Correlations Analysis

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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   
LCFYX
+ 0.97
XNCVX
LCFYX
+ 0.94
FSAWX
XNCVX
+ 0.9
FSAWX
AVK
+ 0.53
XNCVX
LCFYX
+ 0.53
AVK
CCD
+ 0.36
FSAWX
  
High negative correlations   
CCD
- 0.19
AVK

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Ultrashort 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 Ultrashort'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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