Federated Max-cap Correlations

FISPX Fund

USD 7.70 0.01 0.13%

The current 90-days correlation between Federated Max Cap and Federated Mdt Large is 0.86 (i.e., Very poor diversification). The correlation of Federated Max-cap 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 Max-cap Correlation With Market

Poor diversification

The correlation between Federated Max Cap Index and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Max Cap Index 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 Max Cap Index. 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 american community survey.

Moving together with Federated Mutual Fund

0.96	QKACX	Federated Mdt All	Pair Corr
0.84	QKBGX	Federated Mdt Balanced	Pair Corr
0.77	SBFIX	Federated Global All	Pair Corr
0.69	FSBCX	Federated Global All	Pair Corr
0.78	FSBKX	Federated Global All	Pair Corr
0.77	FSBLX	Federated Global All	Pair Corr
0.89	QLSGX	Federated Mdt Small	Pair Corr
0.92	QLSCX	Federated Mdt Small	Pair Corr
0.62	FSTKX	Federated Mdt Large	Pair Corr
0.62	FSTLX	Federated Mdt Large	Pair Corr
0.62	FSTRX	Federated Mdt Large	Pair Corr
0.77	FSTBX	Federated Global All	Pair Corr

Moving against Federated Mutual Fund

0.59	FSGVX	Federated U S	Pair Corr
0.31	FSHIX	Federated Short-intermedia	Pair Corr
0.59	FSGIX	Federated Gov Sec	Pair Corr
0.54	FTGLX	Federated Total Return	Pair Corr
0.53	FSTIX	Federated Short Term	Pair Corr
0.53	FTIAX	Federated Short Term	Pair Corr
0.53	FTGSX	Federated Total Return	Pair Corr
0.52	FSILX	Federated Short Term	Pair Corr
0.52	FSTYX	Federated Short Term	Pair Corr
0.48	INISX	Federated Intermediate	Pair Corr
0.37	FSHSX	Federated Short-intermedia	Pair Corr
0.57	FULBX	Federated Ultrashort Bond	Pair Corr
0.55	FULAX	Federated Ultrashort Bond	Pair Corr
0.54	FULIX	Federated Ultrashort Bond	Pair Corr
0.53	FTRGX	Federated Total Return	Pair Corr
0.53	FCBRX	Federated Hermes	Pair Corr
0.5	FTRFX	Federated Total Return	Pair Corr

Related Correlations Analysis

	FSTKX	FGSAX	FIGTX	FMDCX	FTRBX
FSTKX		0.58	0.19	0.48	0.27	FSTKX
FGSAX	0.58		-0.63	0.96	-0.55	FGSAX
FIGTX	0.19	-0.63		-0.7	0.97	FIGTX
FMDCX	0.48	0.96	-0.7		-0.64	FMDCX
FTRBX	0.27	-0.55	0.97	-0.64		FTRBX
	FSTKX	FGSAX	FIGTX	FMDCX	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

FTRBX	+ 0.97	FIGTX
FMDCX	+ 0.96	FGSAX
FGSAX	+ 0.58	FSTKX
FMDCX	+ 0.48	FSTKX
FTRBX	+ 0.27	FSTKX
FIGTX	+ 0.19	FSTKX

High negative correlations

FMDCX	- 0.7	FIGTX
FTRBX	- 0.64	FMDCX
FIGTX	- 0.63	FGSAX
FTRBX	- 0.55	FGSAX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Max-cap 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 Max-cap'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
FSTKX	0.65	0.03	0.04	0.01	0.91	(0.65)	1.26	(1.55)	3.18
FGSAX	1.19	(0.06)	0.00	(0.09)	0.00	0.00	2.00	(2.80)	5.96
FIGTX	0.16	0.02	0.21	0.99	0.10	(0.21)	0.32	(0.31)	0.94
FMDCX	0.87	(0.09)	0.00	(0.13)	0.00	0.00	1.28	(2.16)	4.10
FTRBX	0.24	0.01	0.14	0.29	0.24	(0.29)	0.53	(0.42)	1.30

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