Federated Max Correlations

Mutual Funds . USA . 
Fund . Federated Max Cap Index
FISPX Fund  USD 8.98  0.01  0.11%   
The current 90-days correlation between Federated Max Cap and Federated Mid Cap Index is 0.77 (i.e., Poor diversification). The correlation of Federated Max 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 Max Correlation With Market

Very poor diversification

The correlation between Federated Max Cap Index and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Max Cap Index 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 Max Cap Index. 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 producer price index.

Moving together with Federated Mutual Fund

  0.84EMDIX Federated Emerging MarketPairCorr
  0.83QKACX Federated Mdt AllPairCorr
  0.82QKBGX Federated Mdt BalancedPairCorr
  0.88SBFIX Federated Global AllPairCorr
  0.86FRIEX Federated Hermes EmergingPairCorr
  0.84STFSX Federated StrategicPairCorr
  0.84STIAX Federated StrategicPairCorr
  0.82STILX Federated StrategicPairCorr
  0.83STISX Federated StrategicPairCorr
  0.76FRSAX Federated Floating RatePairCorr
  0.98FSBCX Federated Global AllPairCorr
  0.88FSBKX Federated Global AllPairCorr
  0.99FSBLX Federated Global AllPairCorr
  0.74QLSGX Federated Mdt SmallPairCorr
  0.62QLSCX Federated Mdt SmallPairCorr
  0.74FSHIX Federated Short IntePairCorr
  0.72FSGIX Federated Gov SecPairCorr
  0.78INISX Federated IntermediatePairCorr
  0.75FSHSX Federated Short-intermediaPairCorr
  0.82FSILX Federated Short TermPairCorr
  0.8FSTIX Federated Short TermPairCorr
  0.67FSTKX Federated Mdt LargePairCorr
  0.66FSTLX Federated Mdt LargePairCorr
  0.64FSTRX Federated Mdt LargePairCorr
  0.8FSTYX Federated Short TermPairCorr
  0.82FSTBX Federated Global AllPairCorr
  0.86PIEFX Pnc Emerging MarketsPairCorr
  0.75PIGDX Pnc International GrowthPairCorr
  0.79FTIAX Federated Short TermPairCorr
  0.8FTGLX Federated Total ReturnPairCorr
  0.8FTGSX Federated Total ReturnPairCorr
  0.85PIUCX Pnc International EquityPairCorr
  0.77PIUIX Pnc International EquityPairCorr
  0.65RRFAX Federated Real ReturnPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Max 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 Max'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
FMCRX  0.73 (0.06)(0.03) 0.05  0.79 
(0.83)
 1.67 
(1.17)
 5.54 
NSCRX  0.80 (0.04) 0.00  0.07  0.89 
(0.88)
 1.86 
(1.30)
 7.76 
NSCFX  0.80 (0.04) 0.01  0.07  0.89 
(0.91)
 1.87 
(1.29)
 7.77 
GILIX  0.48  0.01  0.00  0.11  0.56 
(0.51)
 1.11 
(0.90)
 3.87 
SECEX  0.48  0.11  0.00 (0.66) 0.56 
(0.54)
 1.13 
(0.93)
 3.89 
BTEFX  0.41 (0.01)(0.06) 0.08  0.43 
(0.44)
 0.93 
(0.66)
 3.26 
FIMPX  0.91  0.10  0.00 (1.07) 1.00 
(0.94)
 2.18 
(1.70)
 5.57 
HLMEX  0.51  0.08  0.06  0.23  0.60 
(0.58)
 1.15 
(1.13)
 4.24 
CFVLX  0.40 (0.02)(0.10) 0.06  0.39 
(0.49)
 0.99 
(0.69)
 3.16 
TNBIX  0.34 (0.04)(0.15) 0.04  0.42 
(0.35)
 0.78 
(0.63)
 2.46 

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