Federated Government Correlations

FICMX Fund

USD 8.85 0.02 0.23%

The current 90-days correlation between Federated Government and Pax Balanced Fund is 0.02 (i.e., Significant diversification). The correlation of Federated Government 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 Government Correlation With Market

Significant diversification

The correlation between Federated Government Income and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Government 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 Government 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 population.

Moving together with Federated Mutual Fund

0.8	FCSPX	Federated Porate Bond	Pair Corr
0.71	FULAX	Federated Ultrashort Bond	Pair Corr
0.61	FHBRX	Federated High Income	Pair Corr
0.83	ICBRX	Federated Hermes Int	Pair Corr
0.67	FHCOX	Federated Hermes Con	Pair Corr
0.63	FHTIX	Federated High Yield	Pair Corr
0.62	FHYLX	Federated High Yield	Pair Corr
0.92	FIPRX	Federated Hermes Inf	Pair Corr
0.89	VFIJX	Vanguard Gnma	Pair Corr
0.84	VSIGX	Vanguard Intermediate-ter	Pair Corr
0.85	UGSFX	Us Government Securities	Pair Corr
0.97	AMUSX	Us Government Securities	Pair Corr
0.86	FSUGX	American Funds Government	Pair Corr
0.83	UGSCX	Us Government Securities	Pair Corr
0.86	FSUUX	American Funds Government	Pair Corr
0.88	VMBSX	Vanguard Mortgage-backed	Pair Corr
0.88	VFIIX	Vanguard Gnma	Pair Corr
0.84	FUTBX	Fidelity Sai Treasury	Pair Corr

Related Correlations Analysis

	PAXIX	MGEMX	HIACX	ABTIX	PGBIX
PAXIX		0.98	1.0	0.57	0.9	PAXIX
MGEMX	0.98		0.98	0.52	0.85	MGEMX
HIACX	1.0	0.98		0.54	0.87	HIACX
ABTIX	0.57	0.52	0.54		0.74	ABTIX
PGBIX	0.9	0.85	0.87	0.74		PGBIX
	PAXIX	MGEMX	HIACX	ABTIX	PGBIX

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Government 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 Government'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
PAXIX	0.39	0.08	0.03	0.28	0.22	(0.42)	1.27	(0.85)	2.66
MGEMX	0.55	0.19	0.18	0.58	0.00	(0.68)	1.61	(0.99)	4.56
HIACX	0.63	0.09	0.10	0.24	0.54	(0.71)	1.95	(1.25)	4.87
ABTIX	0.29	0.02	(0.31)	(0.30)	0.31	(0.32)	0.55	(0.65)	1.42
PGBIX	0.18	0.03	(0.34)	0.45	0.00	(0.24)	0.43	(0.41)	0.95

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Federated Government Correlations

Federated Government Correlation With Market

Significant diversification

Moving together with Federated Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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