Federated Ultrashort Correlations

FULIX Fund

USD 9.27 0.01 0.11%

The current 90-days correlation between Federated Ultrashort Bond and Short Term Fund R is 0.36 (i.e., Weak 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

Very good diversification

The correlation between Federated Ultrashort Bond and DJI is -0.22 (i.e., Very good 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 gross domestic product.

Moving together with Federated Mutual Fund

0.73	QKACX	Federated Mdt All	Pair Corr
0.7	QKBGX	Federated Mdt Balanced	Pair Corr
0.88	FRSAX	Federated Floating Rate	Pair Corr
0.63	QLSGX	Federated Mdt Small	Pair Corr
0.64	QLSCX	Federated Mdt Small	Pair Corr
0.73	FSTKX	Federated Mdt Large	Pair Corr
0.73	FSTLX	Federated Mdt Large	Pair Corr
0.73	FSTRX	Federated Mdt Large	Pair Corr
0.72	SVALX	Federated Strategic Value	Pair Corr
0.71	SVAAX	Federated Strategic Value	Pair Corr
0.7	SVAIX	Federated Strategic Value	Pair Corr
0.7	SVACX	Federated Strategic Value	Pair Corr

Moving against Federated Mutual Fund

0.55	FTIBX	Federated Global Total	Pair Corr
0.54	FTIIX	Federated Global Total	Pair Corr
0.49	FTGLX	Federated Total Return	Pair Corr
0.31	INISX	Federated Intermediate	Pair Corr
0.54	PIUCX	Pnc International Equity	Pair Corr
0.54	FCBRX	Federated Hermes	Pair Corr
0.52	PIUIX	Pnc International Equity	Pair Corr
0.5	FTGSX	Federated Total Return	Pair Corr
0.49	FTRGX	Federated Total Return	Pair Corr
0.47	FTRKX	Federated Total Return	Pair Corr

Related Correlations Analysis

	PTSRX	PSDNX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF
PTSRX		0.94	-0.73	0.0	-0.15	0.51	0.68	-0.02	-0.53	PTSRX
PSDNX	0.94		-0.67	0.0	-0.22	0.56	0.83	0.2	-0.41	PSDNX
444859BR2	-0.73	-0.67		0.0	0.22	-0.53	-0.54	-0.03	0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.15	-0.22	0.22	0.0		-0.45	-0.35	-0.4	-0.04	BRRAY
MSTSX	0.51	0.56	-0.53	0.0	-0.45		0.67	0.34	-0.02	MSTSX
LBHIX	0.68	0.83	-0.54	0.0	-0.35	0.67		0.51	-0.29	LBHIX
ABHYX	-0.02	0.2	-0.03	0.0	-0.4	0.34	0.51		-0.05	ABHYX
SCAXF	-0.53	-0.41	0.41	0.0	-0.04	-0.02	-0.29	-0.05		SCAXF
	PTSRX	PSDNX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	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

PSDNX	+ 0.94	PTSRX
LBHIX	+ 0.83	PSDNX
LBHIX	+ 0.68	PTSRX
LBHIX	+ 0.67	MSTSX
MSTSX	+ 0.56	PSDNX
MSTSX	+ 0.51	PTSRX

High negative correlations

444859BR2	- 0.73	PTSRX
444859BR2	- 0.67	PSDNX
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
SCAXF	- 0.53	PTSRX
MSTSX	- 0.45	BRRAY

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PTSRX	0.06	0.01	(0.95)	4.68	0.00	(0.17)	0.11	(0.10)	0.52
PSDNX	0.05	0.01	(1.03)	(1.86)	0.00	(0.20)	0.10	(0.10)	0.60
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47

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