Federated International Correlations

ISCIX Fund

USD 53.15 0.36 0.67%

The current 90-days correlation between Federated International and Balanced Fund Retail is 0.01 (i.e., Significant diversification). The correlation of Federated International 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 International Correlation With Market

Very poor diversification

The correlation between Federated International Small and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated International Small and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Federated International Small Mid. 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

0.9	EMDIX	Federated Emerging Market	Pair Corr
0.92	SBFIX	Federated Global All	Pair Corr
0.89	STFSX	Federated Strategic	Pair Corr
0.86	STISX	Federated Strategic	Pair Corr
0.92	FSBCX	Federated Global All	Pair Corr
0.92	FSBKX	Federated Global All	Pair Corr
0.87	QLSGX	Federated Mdt Small	Pair Corr
0.86	QLSCX	Federated Mdt Small	Pair Corr
0.93	FSHSX	Federated Short Inte	Pair Corr
0.86	FSTKX	Federated Mdt Large	Pair Corr
0.86	FSTLX	Federated Mdt Large	Pair Corr
0.86	FSTRX	Federated Mdt Large	Pair Corr
0.91	FSTBX	Federated Global All	Pair Corr
0.92	PIEFX	Pnc Emerging Markets	Pair Corr
0.83	SVALX	Federated Strategic Value	Pair Corr
0.69	FTRBX	Federated Total Return	Pair Corr
0.65	FCSPX	Federated Porate Bond	Pair Corr
0.79	FULAX	Federated Ultrashort Bond	Pair Corr
0.84	VSFSX	Federated Clover Small	Pair Corr
0.75	LMBIX	Federated Municipal Bond	Pair Corr
0.82	FEUSX	Federated Government	Pair Corr
0.98	ISCCX	Federated International	Pair Corr
0.69	FGCIX	Federated Short-intermedia	Pair Corr
0.94	FGFCX	Federated International	Pair Corr
0.94	FGFAX	Federated International	Pair Corr
0.94	FGFRX	Federated International	Pair Corr
0.76	FGSAX	Federated Mdt Mid	Pair Corr
0.94	FGRSX	Federated International	Pair Corr
0.74	FGSIX	Federated Mdt Mid	Pair Corr
0.86	FGUSX	Federated Government	Pair Corr
0.86	FGULX	Federated Government	Pair Corr
0.63	QALGX	Federated Mdt Large	Pair Corr
0.88	FHBRX	Federated High Income	Pair Corr
0.77	ICBRX	Federated Hermes Int	Pair Corr

Moving against Federated Mutual Fund

0.89	PIUIX	Pnc International Equity	Pair Corr
0.85	PIGDX	Pnc International Growth	Pair Corr
0.89	PMIEX	Pnc International Equity	Pair Corr
0.71	KLCAX	Federated Kaufmann Large	Pair Corr

Related Correlations Analysis

	WABMSX	PMEGX	FFCGX	IEMSX	FZEDSX	ABVCX	FLDFX
WABMSX		0.82	1.0	0.85	0.95	0.88	0.91	WABMSX
PMEGX	0.82		0.83	0.68	0.82	0.92	0.91	PMEGX
FFCGX	1.0	0.83		0.86	0.95	0.89	0.92	FFCGX
IEMSX	0.85	0.68	0.86		0.72	0.75	0.78	IEMSX
FZEDSX	0.95	0.82	0.95	0.72		0.88	0.91	FZEDSX
ABVCX	0.88	0.92	0.89	0.75	0.88		0.96	ABVCX
FLDFX	0.91	0.91	0.92	0.78	0.91	0.96		FLDFX
	WABMSX	PMEGX	FFCGX	IEMSX	FZEDSX	ABVCX	FLDFX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated International 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 International'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
WABMSX	0.51	0.03	0.02	0.11	0.66	(0.53)	1.05	(1.39)	3.17
PMEGX	1.08	0.38	0.43	0.92	0.00	(1.38)	1.61	(1.24)	27.79
FFCGX	0.53	0.05	0.04	0.13	0.63	(0.53)	1.03	(1.31)	2.84
IEMSX	0.61	0.19	0.13	1.14	0.69	(0.72)	1.43	(1.12)	4.66
FZEDSX	0.42	0.02	(0.02)	0.10	0.50	(0.45)	0.83	(0.81)	2.85
ABVCX	0.72	0.20	0.28	0.24	0.32	(0.95)	1.52	(1.12)	10.97
FLDFX	0.45	0.10	0.07	1.40	0.35	(0.53)	0.93	(0.96)	4.03

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