Federated Ohio Correlations

OMIAX Fund

USD 10.52 0.02 0.19%

The current 90-days correlation between Federated Ohio Municipal and Federated Emerging Market is 0.45 (i.e., Very weak diversification). The correlation of Federated Ohio 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 Ohio Correlation With Market

Very good diversification

The correlation between Federated Ohio Municipal and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Ohio Municipal and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Federated Ohio Municipal. 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 nation.

Moving together with FEDERATED Mutual Fund

0.93	FKTOX	Franklin Ohio Tax	Pair Corr
0.93	FROZX	Franklin Ohio Tax	Pair Corr
0.96	VOHIX	Vanguard Ohio Long	Pair Corr
0.93	FOHQX	Franklin Ohio Tax	Pair Corr
0.92	FTOIX	Franklin Ohio Tax	Pair Corr
0.95	FOITX	Franklin Ohio Tax	Pair Corr
0.97	FOHFX	Fidelity Ohio Municipal	Pair Corr
0.76	VZ	Verizon Communications Sell-off Trend	Pair Corr

Moving against FEDERATED Mutual Fund

0.58	LETRX	Voya Russia Fund	Pair Corr
0.39	KSOCX	Kinetics Small Cap	Pair Corr
0.39	KSCYX	Kinetics Small Cap	Pair Corr
0.38	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.38	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.38	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.35	KINAX	Kinetics Internet	Pair Corr
0.54	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.44	BAC	Bank of America Aggressive Push	Pair Corr
0.41	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.39	KSCOX	Kinetics Small Cap	Pair Corr
0.38	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.37	HPQ	HP Inc	Pair Corr
0.35	KINCX	Kinetics Internet	Pair Corr
0.35	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.32	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	EMDIX	QKACX	QKBGX	SBFIX	FRIEX	STFSX	STIAX	STILX	STISX	FRSAX
EMDIX		-0.27	-0.1	0.35	0.23	0.97	0.97	0.97	0.97	-0.44	EMDIX
QKACX	-0.27		0.98	0.76	0.41	-0.28	-0.28	-0.3	-0.3	0.89	QKACX
QKBGX	-0.1	0.98		0.86	0.41	-0.11	-0.11	-0.13	-0.13	0.82	QKBGX
SBFIX	0.35	0.76	0.86		0.59	0.33	0.33	0.31	0.31	0.48	SBFIX
FRIEX	0.23	0.41	0.41	0.59		0.18	0.18	0.17	0.17	0.3	FRIEX
STFSX	0.97	-0.28	-0.11	0.33	0.18		1.0	1.0	1.0	-0.42	STFSX
STIAX	0.97	-0.28	-0.11	0.33	0.18	1.0		1.0	1.0	-0.42	STIAX
STILX	0.97	-0.3	-0.13	0.31	0.17	1.0	1.0		1.0	-0.43	STILX
STISX	0.97	-0.3	-0.13	0.31	0.17	1.0	1.0	1.0		-0.43	STISX
FRSAX	-0.44	0.89	0.82	0.48	0.3	-0.42	-0.42	-0.43	-0.43		FRSAX
	EMDIX	QKACX	QKBGX	SBFIX	FRIEX	STFSX	STIAX	STILX	STISX	FRSAX

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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

STIAX	+ 1.0	STFSX
STILX	+ 1.0	STFSX
STISX	+ 1.0	STFSX
STILX	+ 1.0	STIAX
STISX	+ 1.0	STIAX
STISX	+ 1.0	STILX

High negative correlations

FRSAX	- 0.44	EMDIX
FRSAX	- 0.43	STISX
FRSAX	- 0.43	STILX
FRSAX	- 0.42	STIAX
FRSAX	- 0.42	STFSX
STISX	- 0.3	QKACX

Risk-Adjusted Indicators

There is a big difference between FEDERATED Mutual Fund performing well and Federated Ohio 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 Ohio'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
EMDIX	0.19	(0.01)	(0.47)	(0.08)	0.19	(0.28)	0.38	(0.38)	1.65
QKACX	0.56	0.05	0.04	0.19	0.59	(0.60)	1.22	(1.24)	3.98
QKBGX	0.37	0.02	(0.09)	0.16	0.33	(0.42)	0.99	(0.71)	2.11
SBFIX	0.36	(0.03)	(0.18)	0.07	0.43	(0.38)	0.77	(0.76)	2.10
FRIEX	0.77	(0.05)	(0.10)	0.04	0.93	(0.91)	1.82	(1.45)	4.54
STFSX	0.18	0.00	(0.48)	0.12	0.16	(0.24)	0.36	(0.36)	1.22
STIAX	0.18	0.00	(0.46)	0.11	0.17	(0.22)	0.36	(0.36)	1.21
STILX	0.18	0.00	(0.43)	0.09	0.18	(0.24)	0.36	(0.36)	1.45
STISX	0.17	0.00	(0.48)	0.12	0.17	(0.20)	0.36	(0.36)	1.33
FRSAX	0.07	0.02	0.00	(0.58)	0.00	0.00	0.12	(0.12)	0.70

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