Federated Municipal Correlations

Mutual Funds . USA . 
Fund . Federated Municipal Ultrashort
FMUSX Fund  USD 10.02  0.01  0.1%   
The current 90-days correlation between Federated Municipal and Morgan Stanley Pathway is 0.28 (i.e., Modest diversification). The correlation of Federated Municipal 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 Municipal Correlation With Market

Significant diversification

The correlation between Federated Municipal Ultrashort and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Municipal Ultrashort 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 Municipal Ultrashort. 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

  0.96EMDIX Federated Emerging MarketPairCorr
  0.95QKACX Federated Mdt AllPairCorr
  0.96QKBGX Federated Mdt BalancedPairCorr
  0.95SBFIX Federated Global AllPairCorr
  0.93FRIEX Federated Hermes EmergingPairCorr
  0.92STFSX Federated StrategicPairCorr
  0.92STIAX Federated StrategicPairCorr
  0.94STILX Federated StrategicPairCorr
  0.94STISX Federated StrategicPairCorr
  0.98FRSAX Federated Floating RatePairCorr
  0.95FSBCX Federated Global AllPairCorr
  0.95FSBKX Federated Global AllPairCorr
  0.95FSBLX Federated Global AllPairCorr
  0.95QLSGX Federated Mdt SmallPairCorr
  0.94QLSCX Federated Mdt SmallPairCorr
  0.77FSGVX Federated U SPairCorr
  0.98FSHIX Federated Short-intermediaPairCorr
  0.71FSGIX Federated Gov SecPairCorr
  0.9INISX Federated IntermediatePairCorr
  0.99FSHSX Federated Short IntePairCorr
  0.95FSILX Federated Short TermPairCorr
  0.93FSTIX Federated Short TermPairCorr
  0.96FSTKX Federated Mdt LargePairCorr
  0.95FSTLX Federated Mdt LargePairCorr
  0.96FSTRX Federated Mdt LargePairCorr
  0.93FSTYX Federated Short TermPairCorr
  0.95FSTBX Federated Global AllPairCorr
  0.93PIEFX Pnc Emerging MarketsPairCorr
  0.9PIGDX Pnc International GrowthPairCorr
  0.92SVALX Federated Strategic ValuePairCorr
  0.93FTIAX Federated Short TermPairCorr
  0.91SVAAX Federated Strategic ValuePairCorr
  0.93SVAIX Federated Strategic ValuePairCorr
  0.92SVACX Federated Strategic ValuePairCorr
  0.92PIUCX Pnc International EquityPairCorr
  0.92PIUIX 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 Municipal 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 Municipal'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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