Federated High Correlations

Mutual Funds . USA . 
Fund . Federated High Yield
FHTIX Fund  USD 6.32  0.03  0.48%   
The current 90-days correlation between Federated High Yield and Global Gold Fund is 0.09 (i.e., Significant 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

Very weak diversification

The correlation between Federated High Yield and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated High Yield 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 Yield. 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

  0.8PIGDX Pnc International GrowthPairCorr
  0.62FTRGX Federated Total ReturnPairCorr
  0.62FEUGX Federated Adjustable RatePairCorr
  0.64FGUAX Federated GovernmentPairCorr
  0.69FIPRX Federated Hermes InfPairCorr
  0.87VWEAX Vanguard High YieldPairCorr
  0.81VWEHX Vanguard High YieldPairCorr
  0.88BHYCX Blackrock Hi YldPairCorr
  0.96BHYIX Blackrock High YieldPairCorr
  0.97BHYSX Blackrock Hi YldPairCorr
  0.97BHYAX Blackrock High YieldPairCorr
  0.95FAHHX American Funds AmericanPairCorr
  0.94FTAHX American Funds AmericanPairCorr
  0.95AHTFX American High IncomePairCorr
  0.97AHTCX American High IncomePairCorr
  0.72CSIIX Columbia Small CapPairCorr
  0.67ECFAX Eaton Vance FloatingPairCorr
  0.63MCSAX Mfs Modity StrategyPairCorr
  0.71TSOHX Tiaa Cref SocialPairCorr
  0.7HSDFX Hartford ShortPairCorr
  0.75RTIYX Select InternationalPairCorr
  0.7VTIAX Vanguard Total InterPairCorr
  0.7VSCWX Voya Securitized CreditPairCorr
  0.85OHSHX Oakhurst Short DurationPairCorr
  0.96FPIOX Strategic Advisers IncomePairCorr

Related Correlations Analysis

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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.

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