Federated High Correlations

Mutual Funds . USA . 
Fund . Federated High Yield
FHTIX Fund  USD 6.49  0.01  0.15%   
The current 90-days correlation between Federated High Yield and Ab High Income is 0.84 (i.e., Very 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 Yield and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated High Yield 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 Yield. 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

  0.97EMDIX Federated Emerging MarketPairCorr
  0.98FRIEX Federated Hermes EmergingPairCorr
  0.94STISX Federated StrategicPairCorr
  0.98FRSAX Federated Floating RatePairCorr
  0.99FSBLX Federated Global AllPairCorr
  0.83FSHIX Federated Short-intermediaPairCorr
  0.89FSTYX Federated Short TermPairCorr
  0.98PIEFX Pnc Emerging MarketsPairCorr
  0.96PIGDX Pnc International GrowthPairCorr
  0.97PIUCX Pnc International EquityPairCorr
  0.8FCSPX Federated Porate BondPairCorr
  0.87FULAX Federated Ultrashort BondPairCorr
  0.82FDBCX Federated BondPairCorr
  0.84FDBAX Federated BondPairCorr
  0.95VSFCX Federated Clover SmallPairCorr
  0.97ISCCX Federated InternationalPairCorr
  0.97PMIEX Pnc International EquityPairCorr
  0.77FGCAX Federated Short-intermediaPairCorr
  0.88FGULX Federated GovernmentPairCorr
  0.85QAMNX Federated Hermes MdtPairCorr
  0.97QALGX Federated Mdt LargePairCorr
  1.0FHBRX Federated High IncomePairCorr
  0.85ICBRX Federated Hermes IntPairCorr
  0.88FHCOX Federated Hermes ConPairCorr
  0.92FHMIX Federated Hermes ConPairCorr
  0.97KLCIX Federated Kaufmann LargePairCorr
  1.0FHYTX Federated High YieldPairCorr
  1.0FIHBX Federated InstitutionalPairCorr
  0.97FKAIX Federated Kaufmann SmallPairCorr
  0.97MXCCX Federated Max CapPairCorr
  0.96FMCRX Federated Mid CapPairCorr

Moving against Federated Mutual Fund

  0.97BEARX Federated Prudent Bear Potential GrowthPairCorr
  0.97PBRIX Federated Prudent Bear Potential GrowthPairCorr
  0.97PBRCX Federated Prudent Bear Potential GrowthPairCorr

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.

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