Federated Correlations

FSGIX Fund

USD 9.65 0.00 0.00%

The current 90-days correlation between Federated Gov Sec and Amg Renaissance Large is 0.02 (i.e., Significant diversification). The correlation of Federated 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 Correlation With Market

Average diversification

The correlation between Federated Gov Sec and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Gov Sec and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. 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

0.81	EMDIX	Federated Emerging Market	Pair Corr
0.77	SBFIX	Federated Global All	Pair Corr
0.73	FRIEX	Federated Hermes Emerging	Pair Corr
0.78	STFSX	Federated Strategic	Pair Corr
0.78	STIAX	Federated Strategic	Pair Corr
0.77	STILX	Federated Strategic	Pair Corr
0.77	STISX	Federated Strategic	Pair Corr
0.84	FRSAX	Federated Floating Rate	Pair Corr
0.75	FSBCX	Federated Global All	Pair Corr
0.76	FSBKX	Federated Global All	Pair Corr
0.77	FSBLX	Federated Global All	Pair Corr
0.99	FSGVX	Federated U S	Pair Corr
0.76	FSHIX	Federated Short-intermedia	Pair Corr
0.77	INISX	Federated Intermediate	Pair Corr
0.76	FSHSX	Federated Short-intermedia	Pair Corr
0.92	FSILX	Federated Short Term	Pair Corr
0.92	FSTIX	Federated Short Term	Pair Corr
0.92	FSTYX	Federated Short Term	Pair Corr
0.76	FSTBX	Federated Global All	Pair Corr
0.73	PIEFX	Pnc Emerging Markets	Pair Corr
0.91	FTIAX	Federated Short Term	Pair Corr
0.79	FTGLX	Federated Total Return	Pair Corr
0.77	FTGSX	Federated Total Return	Pair Corr

Related Correlations Analysis

	MRLTX	NESGX	NELAX	NELIX	MECDX	BHCFX	ICPAX	RYDVX	BCV	NBREX
MRLTX		0.74	0.57	0.56	0.76	-0.25	0.28	0.33	0.49	0.88	MRLTX
NESGX	0.74		0.74	0.74	0.89	0.18	0.53	0.09	0.86	0.81	NESGX
NELAX	0.57	0.74		1.0	0.88	0.58	0.85	-0.1	0.85	0.75	NELAX
NELIX	0.56	0.74	1.0		0.88	0.59	0.86	-0.11	0.85	0.74	NELIX
MECDX	0.76	0.89	0.88	0.88		0.36	0.71	0.01	0.82	0.9	MECDX
BHCFX	-0.25	0.18	0.58	0.59	0.36		0.71	-0.52	0.5	0.11	BHCFX
ICPAX	0.28	0.53	0.85	0.86	0.71	0.71		-0.23	0.71	0.6	ICPAX
RYDVX	0.33	0.09	-0.1	-0.11	0.01	-0.52	-0.23		-0.1	0.13	RYDVX
BCV	0.49	0.86	0.85	0.85	0.82	0.5	0.71	-0.1		0.68	BCV
NBREX	0.88	0.81	0.75	0.74	0.9	0.11	0.6	0.13	0.68		NBREX
	MRLTX	NESGX	NELAX	NELIX	MECDX	BHCFX	ICPAX	RYDVX	BCV	NBREX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NELIX	+ 1.0	NELAX
NBREX	+ 0.9	MECDX
MECDX	+ 0.89	NESGX
NBREX	+ 0.88	MRLTX
MECDX	+ 0.88	NELAX
MECDX	+ 0.88	NELIX

High negative correlations

RYDVX	- 0.52	BHCFX
BHCFX	- 0.25	MRLTX
RYDVX	- 0.23	ICPAX
RYDVX	- 0.11	NELIX
BCV	- 0.1	RYDVX
RYDVX	- 0.1	NELAX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated 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'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
MRLTX	0.67	(0.06)	0.00	(0.02)	0.00	0.00	1.18	(1.42)	3.79
NESGX	1.60	(0.04)	0.00	0.02	2.11	(1.70)	3.40	(3.84)	10.97
NELAX	0.43	0.00	(0.02)	0.05	0.61	(0.42)	0.68	(0.93)	2.80
NELIX	0.43	0.00	(0.01)	0.05	0.61	(0.41)	0.68	(0.94)	2.80
MECDX	0.56	(0.01)	(0.02)	0.03	0.82	(0.52)	1.17	(1.19)	3.92
BHCFX	0.61	0.24	0.26	0.50	0.32	(0.67)	1.82	(1.22)	3.44
ICPAX	0.83	0.06	0.04	0.12	1.12	(0.87)	1.71	(1.83)	5.92
RYDVX	2.10	(1.06)	0.00	1.03	0.00	0.00	1.53	(1.95)	6.24
BCV	0.89	0.09	0.05	0.17	1.21	(0.87)	2.04	(2.00)	6.35
NBREX	0.74	0.00	0.01	0.04	0.94	(0.76)	1.71	(1.40)	6.63

Federated Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Federated mutual fund to make a market-neutral strategy. Peer analysis of Federated could also be used in its relative valuation, which is a method of valuing Federated by comparing valuation metrics with similar companies.

Amg Renaissance Large Needham Small Cap Nuveen Equity Longshort Nuveen Equity Longshort Mainstay Epoch Capital Baron Health Care Williston Basinmid North America Royce Dividend Value Bancroft Fund Limited Neuberger Berman Mid American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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