Federated Kaufmann Correlations

KLCIX Fund

USD 18.39 0.65 3.66%

The current 90-days correlation between Federated Kaufmann Large and Federated Strategic Value is 0.66 (i.e., Poor diversification). The correlation of Federated Kaufmann 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 Kaufmann Correlation With Market

Almost no diversification

The correlation between Federated Kaufmann Large and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Kaufmann Large and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Federated Kaufmann Large. 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

0.98	QKACX	Federated Mdt All	Pair Corr
0.96	QKBGX	Federated Mdt Balanced	Pair Corr
0.94	SBFIX	Federated Global All	Pair Corr
0.62	FRIEX	Federated Hermes Emerging	Pair Corr
0.66	FRSAX	Federated Floating Rate	Pair Corr
0.95	FSBCX	Federated Global All	Pair Corr
0.95	FSBKX	Federated Global All	Pair Corr
0.94	FSBLX	Federated Global All	Pair Corr
0.97	QLSGX	Federated Mdt Small	Pair Corr
0.95	QLSCX	Federated Mdt Small	Pair Corr
0.89	FSTKX	Federated Mdt Large	Pair Corr
0.89	FSTLX	Federated Mdt Large	Pair Corr
0.89	FSTRX	Federated Mdt Large	Pair Corr
0.94	FSTBX	Federated Global All	Pair Corr
0.62	PIEFX	Pnc Emerging Markets	Pair Corr
0.72	PIGDX	Pnc International Growth	Pair Corr
0.61	PIUCX	Pnc International Equity	Pair Corr

Moving against Federated Mutual Fund

0.84	FSGIX	Federated Gov Sec	Pair Corr
0.83	FSGVX	Federated U S	Pair Corr
0.76	FSTYX	Federated Short Term	Pair Corr
0.75	FTIAX	Federated Short Term	Pair Corr
0.74	FSTIX	Federated Short Term	Pair Corr
0.65	FSILX	Federated Short Term	Pair Corr
0.57	FTGLX	Federated Total Return	Pair Corr
0.57	FTGSX	Federated Total Return	Pair Corr
0.44	INISX	Federated Intermediate	Pair Corr
0.98	BEARX	Federated Prudent Bear	Pair Corr
0.78	FULIX	Federated Ultrashort Bond	Pair Corr
0.77	FULAX	Federated Ultrashort Bond	Pair Corr
0.75	FULBX	Federated Ultrashort Bond	Pair Corr
0.59	FTRGX	Federated Total Return	Pair Corr
0.57	FULLX	Federated Hermes Ult	Pair Corr
0.54	RRFIX	Federated Real Return	Pair Corr
0.51	RRFCX	Federated Real Return	Pair Corr

Related Correlations Analysis

	SVAIX	FKAIX	FGFLX	FMSTX	FTRBX
SVAIX		0.54	0.57	0.87	0.17	SVAIX
FKAIX	0.54		0.19	0.87	-0.49	FKAIX
FGFLX	0.57	0.19		0.42	0.28	FGFLX
FMSTX	0.87	0.87	0.42		-0.21	FMSTX
FTRBX	0.17	-0.49	0.28	-0.21		FTRBX
	SVAIX	FKAIX	FGFLX	FMSTX	FTRBX

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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

FMSTX	+ 0.87	SVAIX
FMSTX	+ 0.87	FKAIX
FGFLX	+ 0.57	SVAIX
FKAIX	+ 0.54	SVAIX
FMSTX	+ 0.42	FGFLX
FTRBX	+ 0.28	FGFLX

High negative correlations

FTRBX	- 0.49	FKAIX
FTRBX	- 0.21	FMSTX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Kaufmann 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 Kaufmann'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
SVAIX	0.76	0.04	0.00	(0.05)	0.00	0.00	1.55	(1.92)	6.34
FKAIX	1.69	0.01	0.00	(0.11)	0.00	0.00	2.61	(3.92)	14.37
FGFLX	0.91	0.20	0.17	0.25	1.39	(0.91)	1.82	(2.20)	9.00
FMSTX	1.02	0.08	0.00	(0.04)	0.00	0.00	1.72	(1.84)	10.43
FTRBX	0.28	0.00	0.31	0.30	0.35	(0.30)	0.53	(0.53)	1.89

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