Federated High Correlations

FHBRX Fund

USD 6.83 0.04 0.58%

The current 90-days correlation between Federated High Income and SCOR PK is -0.1 (i.e., Good diversification). The correlation of Federated High 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 High Correlation With Market

Weak diversification

The correlation between Federated High Income and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated High 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 High 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 metropolitan statistical area.

Moving together with Federated Mutual Fund

0.68	EMDIX	Federated Emerging Market	Pair Corr
0.67	QKBGX	Federated Mdt Balanced	Pair Corr
0.83	SBFIX	Federated Global All	Pair Corr
0.66	STISX	Federated Strategic	Pair Corr
0.87	FSBCX	Federated Global All	Pair Corr
0.87	FSBKX	Federated Global All	Pair Corr
0.86	FSBLX	Federated Global All	Pair Corr
0.65	QLSGX	Federated Mdt Small	Pair Corr
0.63	QLSCX	Federated Mdt Small	Pair Corr
0.68	FSILX	Federated Short Term	Pair Corr
0.64	FSTIX	Federated Short Term	Pair Corr
0.83	FSTBX	Federated Global All	Pair Corr

Related Correlations Analysis

	SCRYY	MSTSX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI	FPCG	KMX
SCRYY		0.4	0.76	-0.21	-0.34	0.51	-0.38	0.4	0.0	0.61	SCRYY
MSTSX	0.4		0.08	-0.12	0.13	0.23	-0.36	0.09	0.0	0.1	MSTSX
VIASP	0.76	0.08		-0.33	-0.14	0.71	-0.43	0.66	0.0	0.63	VIASP
XTWO	-0.21	-0.12	-0.33		-0.6	-0.7	0.91	-0.75	0.0	0.27	XTWO
SVII	-0.34	0.13	-0.14	-0.6		0.37	-0.49	0.44	0.0	-0.43	SVII
70082LAB3	0.51	0.23	0.71	-0.7	0.37		-0.75	0.93	0.0	0.35	70082LAB3
XTWY	-0.38	-0.36	-0.43	0.91	-0.49	-0.75		-0.78	0.0	0.15	XTWY
SEGI	0.4	0.09	0.66	-0.75	0.44	0.93	-0.78		0.0	0.23	SEGI
FPCG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FPCG
KMX	0.61	0.1	0.63	0.27	-0.43	0.35	0.15	0.23	0.0		KMX
	SCRYY	MSTSX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI	FPCG	KMX

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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

SEGI	+ 0.93	70082LAB3
XTWY	+ 0.91	XTWO
VIASP	+ 0.76	SCRYY
70082LAB3	+ 0.71	VIASP
SEGI	+ 0.66	VIASP
KMX	+ 0.63	VIASP

High negative correlations

SEGI	- 0.78	XTWY
XTWY	- 0.75	70082LAB3
SEGI	- 0.75	XTWO
70082LAB3	- 0.7	XTWO
SVII	- 0.6	XTWO
XTWY	- 0.49	SVII

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated High 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 High'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
SCRYY	1.93	0.45	0.12	(0.71)	1.74	(2.85)	5.61	(3.52)	12.99
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
XTWO	0.08	(0.01)	0.00	1.07	0.00	0.00	0.14	(0.12)	0.55
SVII	0.18	0.00	(0.17)	0.24	0.39	(0.29)	0.44	(0.53)	4.77
70082LAB3	0.70	0.09	(0.03)	(0.69)	0.99	(0.84)	1.75	(1.19)	6.86
XTWY	0.76	(0.10)	0.00	0.98	0.00	0.00	1.33	(1.70)	5.49
SEGI	10.19	2.80	0.16	(1.15)	9.90	(16.01)	28.57	(18.18)	62.86
FPCG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KMX	1.43	0.14	0.02	1.44	1.64	(1.55)	4.14	(3.24)	8.69

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