Federated Government Correlations

FITSX Fund

USD 8.77 0.03 0.34%

The current 90-days correlation between Federated Government and Federated Emerging Market is 0.75 (i.e., Poor diversification). The correlation of Federated Government 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 Government Correlation With Market

Average diversification

The correlation between Federated Government Income and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Government 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 Government 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 state.

Moving together with Federated Mutual Fund

0.8	EMDIX	Federated Emerging Market	Pair Corr
0.88	STFSX	Federated Strategic	Pair Corr
0.94	STIAX	Federated Strategic	Pair Corr
0.94	STILX	Federated Strategic	Pair Corr
0.78	STISX	Federated Strategic	Pair Corr
0.9	FSGVX	Federated U S	Pair Corr
0.68	FSHIX	Federated Short Inte	Pair Corr
0.91	FSGIX	Federated Gov Sec	Pair Corr
0.93	INISX	Federated Intermediate	Pair Corr
0.63	FSHSX	Federated Short Inte	Pair Corr
0.78	FSTYX	Federated Short Term	Pair Corr
0.63	PIGDX	Pnc International Growth	Pair Corr
0.77	FTIAX	Federated Short Term	Pair Corr
0.97	FTIBX	Federated Global Total	Pair Corr
0.94	FTIIX	Federated Global Total	Pair Corr
0.99	FTGLX	Federated Total Return	Pair Corr
0.96	FTGSX	Federated Total Return	Pair Corr
0.87	PIUCX	Pnc International Equity	Pair Corr
0.87	PIUIX	Pnc International Equity	Pair Corr

Moving against Federated Mutual Fund

0.75	FRSAX	Federated Floating Rate	Pair Corr
0.37	QLSGX	Federated Mdt Small	Pair Corr
0.37	QLSCX	Federated Mdt Small	Pair Corr
0.44	FULAX	Federated Ultrashort Bond	Pair Corr

Related Correlations Analysis

	EMDIX	QKACX	QKBGX	SBFIX	FRIEX	STIAX	STILX	STISX	FRSAX	FSBCX
EMDIX		-0.05	0.12	0.55	0.03	0.9	0.9	0.91	-0.37	0.62	EMDIX
QKACX	-0.05		0.79	0.58	-0.23	-0.1	-0.11	-0.01	0.7	0.65	QKACX
QKBGX	0.12	0.79		0.45	0.06	0.24	0.21	0.2	0.27	0.53	QKBGX
SBFIX	0.55	0.58	0.45		-0.17	0.38	0.37	0.61	0.38	0.86	SBFIX
FRIEX	0.03	-0.23	0.06	-0.17		0.31	0.31	0.1	-0.45	-0.05	FRIEX
STIAX	0.9	-0.1	0.24	0.38	0.31		1.0	0.89	-0.56	0.52	STIAX
STILX	0.9	-0.11	0.21	0.37	0.31	1.0		0.88	-0.57	0.51	STILX
STISX	0.91	-0.01	0.2	0.61	0.1	0.89	0.88		-0.36	0.61	STISX
FRSAX	-0.37	0.7	0.27	0.38	-0.45	-0.56	-0.57	-0.36		0.28	FRSAX
FSBCX	0.62	0.65	0.53	0.86	-0.05	0.52	0.51	0.61	0.28		FSBCX
	EMDIX	QKACX	QKBGX	SBFIX	FRIEX	STIAX	STILX	STISX	FRSAX	FSBCX

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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

STILX	+ 1.0	STIAX
STISX	+ 0.91	EMDIX
STIAX	+ 0.9	EMDIX
STILX	+ 0.9	EMDIX
STISX	+ 0.89	STIAX
STISX	+ 0.88	STILX

High negative correlations

FRSAX	- 0.57	STILX
FRSAX	- 0.56	STIAX
FRSAX	- 0.45	FRIEX
FRSAX	- 0.37	EMDIX
FRSAX	- 0.36	STISX
FRIEX	- 0.23	QKACX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Government 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 Government'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EMDIX	0.19	(0.04)	0.00	(0.74)	0.00	0.26	(0.38)	1.66
QKACX	0.67	(0.06)	0.00	(0.04)	0.00	1.22	(1.24)	10.29
QKBGX	0.55	(0.13)	0.00	(0.70)	0.00	0.99	(0.98)	9.77
SBFIX	0.36	(0.02)	0.00	(0.21)	0.00	0.77	(0.68)	3.23
FRIEX	0.69	(0.03)	0.00	(0.04)	0.00	1.70	(1.41)	4.82
STIAX	0.19	(0.04)	0.00	(0.54)	0.00	0.24	(0.48)	1.21
STILX	0.19	(0.04)	0.00	(0.53)	0.00	0.24	(0.36)	1.45
STISX	0.17	(0.03)	0.00	(0.61)	0.00	0.24	(0.37)	1.34
FRSAX	0.06	0.00	(0.13)	0.00	(0.21)	0.12	(0.12)	0.70
FSBCX	0.36	(0.04)	0.00	(0.06)	0.00	0.66	(0.71)	3.12

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