Federated Prudent Correlations

PBRIX Fund

USD 5.12 0.02 0.39%

The current 90-days correlation between Federated Prudent Bear and Calvert Global Energy is -0.42 (i.e., Very good diversification). The correlation of Federated Prudent 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 Prudent Correlation With Market

Pay attention - limited upside

The correlation between Federated Prudent Bear and DJI is -0.81 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Prudent Bear 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 Prudent Bear. 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

0.69	FTIBX	Federated Global Total	Pair Corr
0.67	FTIIX	Federated Global Total	Pair Corr
0.73	FTGLX	Federated Total Return	Pair Corr
0.73	FTGSX	Federated Total Return	Pair Corr

Moving against Federated Mutual Fund

0.98	QKBGX	Federated Mdt Balanced	Pair Corr
0.97	QKACX	Federated Mdt All	Pair Corr
0.96	FSTLX	Federated Mdt Large	Pair Corr
0.96	FSTRX	Federated Mdt Large	Pair Corr
0.93	FSTKX	Federated Mdt Large	Pair Corr
0.92	QLSGX	Federated Mdt Small	Pair Corr
0.89	QLSCX	Federated Mdt Small	Pair Corr
0.84	SBFIX	Federated Global All	Pair Corr
0.84	FSBLX	Federated Global All	Pair Corr
0.83	FSTBX	Federated Global All	Pair Corr
0.82	FSBKX	Federated Global All	Pair Corr
0.81	FRSAX	Federated Floating Rate	Pair Corr
0.81	FSBCX	Federated Global All	Pair Corr
0.5	PIEFX	Pnc Emerging Markets	Pair Corr
0.49	FRIEX	Federated Hermes Emerging	Pair Corr
0.92	FDERX	Federated Equity Income	Pair Corr
0.84	SVAAX	Federated Strategic Value	Pair Corr
0.83	SVAIX	Federated Strategic Value	Pair Corr
0.83	SVACX	Federated Strategic Value	Pair Corr
0.73	FULAX	Federated Ultrashort Bond	Pair Corr
0.73	FULBX	Federated Ultrashort Bond	Pair Corr
0.72	FULIX	Federated Ultrashort Bond	Pair Corr
0.68	FULLX	Federated Hermes Ult	Pair Corr

Related Correlations Analysis

	CGAEX	ALEFX	SNPIX	GMOWX	IVEIX	ICBAX
CGAEX		-0.46	0.3	0.68	0.91	-0.17	CGAEX
ALEFX	-0.46		-0.84	-0.25	-0.37	0.85	ALEFX
SNPIX	0.3	-0.84		-0.14	0.24	-0.79	SNPIX
GMOWX	0.68	-0.25	-0.14		0.67	0.02	GMOWX
IVEIX	0.91	-0.37	0.24	0.67		-0.07	IVEIX
ICBAX	-0.17	0.85	-0.79	0.02	-0.07		ICBAX
	CGAEX	ALEFX	SNPIX	GMOWX	IVEIX	ICBAX

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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

IVEIX	+ 0.91	CGAEX
ICBAX	+ 0.85	ALEFX
GMOWX	+ 0.68	CGAEX
IVEIX	+ 0.67	GMOWX
SNPIX	+ 0.3	CGAEX
IVEIX	+ 0.24	SNPIX

High negative correlations

SNPIX	- 0.84	ALEFX
ICBAX	- 0.79	SNPIX
ALEFX	- 0.46	CGAEX
IVEIX	- 0.37	ALEFX
GMOWX	- 0.25	ALEFX
ICBAX	- 0.17	CGAEX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Prudent 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 Prudent'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
CGAEX	0.74	(0.06)	(0.12)	(0.02)	1.06	(0.70)	1.46	(1.90)	4.70
ALEFX	0.63	0.24	0.23	0.77	0.19	(0.83)	1.37	(0.77)	4.42
SNPIX	0.91	(0.08)	0.00	(1.95)	0.00	0.00	2.11	(1.71)	6.81
GMOWX	1.07	(0.08)	0.00	34.83	0.00	0.00	1.80	(2.79)	5.49
IVEIX	0.70	(0.03)	(0.12)	0.00	1.01	(0.71)	1.25	(1.80)	4.95
ICBAX	0.89	(0.10)	(0.05)	0.04	1.42	(0.92)	1.49	(1.76)	6.37

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