Federated High Correlations

Mutual Funds . USA . 
Fund . Federated High Income
FHISX Fund  USD 6.86  0.01  0.15%   
The current 90-days correlation between Federated High Income and Federated Emerging Market is 0.63 (i.e., Poor diversification). The correlation of Federated High 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 High Correlation With Market

Poor diversification

The correlation between Federated High Income and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated High Income 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 High Income. 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 state.

Moving together with Federated Mutual Fund

  0.98EMDIX Federated Emerging MarketPairCorr
  0.98QKACX Federated Mdt AllPairCorr
  0.99QKBGX Federated Mdt BalancedPairCorr
  0.99SBFIX Federated Global AllPairCorr
  0.97FRIEX Federated Hermes EmergingPairCorr
  0.95STFSX Federated StrategicPairCorr
  0.95STIAX Federated StrategicPairCorr
  0.98STILX Federated StrategicPairCorr
  0.98STISX Federated StrategicPairCorr
  0.97FRSAX Federated Floating RatePairCorr
  0.99FSBCX Federated Global AllPairCorr
  0.99FSBKX Federated Global AllPairCorr
  0.99FSBLX Federated Global AllPairCorr
  0.98QLSGX Federated Mdt SmallPairCorr
  0.97QLSCX Federated Mdt SmallPairCorr
  0.73FSGVX Federated U SPairCorr
  0.96FSHIX Federated Short-intermediaPairCorr
  0.67FSGIX Federated Gov SecPairCorr
  0.91INISX Federated IntermediatePairCorr
  0.97FSHSX Federated Short IntePairCorr
  0.91FSILX Federated Short TermPairCorr
  0.91FSTIX Federated Short TermPairCorr
  0.98FSTKX Federated Mdt LargePairCorr
  0.98FSTLX Federated Mdt LargePairCorr
  0.98FSTRX Federated Mdt LargePairCorr
  0.91FSTYX Federated Short TermPairCorr
  0.99FSTBX Federated Global AllPairCorr
  0.97PIEFX Pnc Emerging MarketsPairCorr
  0.95PIGDX Pnc International GrowthPairCorr
  0.91SVALX Federated Strategic ValuePairCorr
  0.91FTIAX Federated Short TermPairCorr
  0.91SVAAX Federated Strategic ValuePairCorr
  0.91SVAIX Federated Strategic ValuePairCorr
  0.91SVACX Federated Strategic ValuePairCorr
  0.97PIUCX Pnc International EquityPairCorr
  0.97PIUIX Pnc International EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated High 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 High'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EMDIX  0.19  0.09 (0.13) 1.31  0.00 
(0.29)
 0.51 
(0.25)
 1.10 
QKACX  0.65  0.16  0.17  0.30  0.43 
(0.82)
 1.97 
(1.28)
 4.99 
QKBGX  0.40  0.09  0.05  0.29  0.24 
(0.45)
 1.29 
(0.88)
 2.90 
SBFIX  0.36  0.09  0.04  0.32  0.00 
(0.43)
 1.11 
(0.71)
 2.23 
FRIEX  0.66  0.19  0.17  0.50  0.19 
(0.77)
 2.36 
(1.08)
 4.12 
STFSX  0.18  0.02 (0.31) 0.27  0.02 
(0.23)
 0.49 
(0.36)
 1.11 
STIAX  0.19  0.02 (0.34) 0.26  0.08 
(0.22)
 0.37 
(0.36)
 1.10 
STILX  0.18  0.03 (0.34) 0.40  0.00 
(0.22)
 0.37 
(0.25)
 0.87 
STISX  0.16  0.03 (0.32) 0.46  0.00 
(0.21)
 0.37 
(0.25)
 1.00 
FRSAX  0.07  0.03  0.00  1.19  0.00 
 0.00 
 0.24 
 0.00 
 0.70 

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