Federated Kaufmann Correlations

FKAIX Fund

USD 46.09 0.18 0.39%

The current 90-days correlation between Federated Kaufmann Small and Pnc Emerging Markets is 0.69 (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

Poor diversification

The correlation between Federated Kaufmann Small and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Kaufmann Small 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 Kaufmann Small. 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

0.89	QKACX	Federated Mdt All	Pair Corr
0.68	QKBGX	Federated Mdt Balanced	Pair Corr
0.98	QLSGX	Federated Mdt Small	Pair Corr
0.99	QLSCX	Federated Mdt Small	Pair Corr

Moving against Federated Mutual Fund

0.74	FSGVX	Federated U S	Pair Corr
0.73	FSGIX	Federated Gov Sec	Pair Corr
0.69	FTIAX	Federated Short Term	Pair Corr
0.68	FSILX	Federated Short Term	Pair Corr
0.68	FSTIX	Federated Short Term	Pair Corr
0.68	FSTYX	Federated Short Term	Pair Corr
0.67	INISX	Federated Intermediate	Pair Corr
0.54	FRIEX	Federated Hermes Emerging	Pair Corr
0.5	EMDIX	Federated Emerging Market	Pair Corr
0.5	FSHIX	Federated Short-intermedia	Pair Corr
0.5	FSHSX	Federated Short-intermedia	Pair Corr
0.49	STFSX	Federated Strategic	Pair Corr
0.49	STIAX	Federated Strategic	Pair Corr
0.49	STILX	Federated Strategic	Pair Corr
0.49	STISX	Federated Strategic	Pair Corr
0.49	PIEFX	Pnc Emerging Markets	Pair Corr
0.44	SVALX	Federated Strategic Value	Pair Corr
0.96	BEARX	Federated Prudent Bear	Pair Corr
0.72	FCBRX	Federated Hermes	Pair Corr
0.72	FUSGX	Federated Fund For	Pair Corr
0.71	FTGLX	Federated Total Return	Pair Corr
0.71	FTGSX	Federated Total Return	Pair Corr
0.71	FTRGX	Federated Total Return	Pair Corr
0.71	FUSCX	Federated Fund For	Pair Corr
0.69	FTRKX	Federated Total Return	Pair Corr
0.69	FULBX	Federated Ultrashort Bond	Pair Corr

Related Correlations Analysis

	PIEFX	AMTOX	FEMDX	ZEMIX	CBHAX	CDHIX	APDOX	REMVX
PIEFX		0.72	0.83	0.98	0.77	0.89	0.79	0.94	PIEFX
AMTOX	0.72		0.83	0.76	0.52	0.76	0.87	0.62	AMTOX
FEMDX	0.83	0.83		0.85	0.67	0.94	0.97	0.81	FEMDX
ZEMIX	0.98	0.76	0.85		0.75	0.91	0.82	0.92	ZEMIX
CBHAX	0.77	0.52	0.67	0.75		0.76	0.67	0.82	CBHAX
CDHIX	0.89	0.76	0.94	0.91	0.76		0.91	0.92	CDHIX
APDOX	0.79	0.87	0.97	0.82	0.67	0.91		0.76	APDOX
REMVX	0.94	0.62	0.81	0.92	0.82	0.92	0.76		REMVX
	PIEFX	AMTOX	FEMDX	ZEMIX	CBHAX	CDHIX	APDOX	REMVX

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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
PIEFX	0.99	0.08	0.06	0.15	1.25	(0.99)	2.06	(2.04)	6.94
AMTOX	0.48	0.05	0.06	0.12	0.58	(0.55)	1.00	(1.10)	2.56
FEMDX	0.15	0.02	0.08	5.39	0.00	(0.20)	0.42	(0.26)	1.11
ZEMIX	0.75	0.06	0.05	0.14	0.93	(0.82)	1.70	(1.67)	5.50
CBHAX	0.18	0.03	0.10	(1.82)	0.00	(0.24)	0.36	(0.36)	0.94
CDHIX	0.68	0.07	0.07	(0.26)	0.85	(0.70)	1.44	(1.51)	4.90
APDOX	0.16	0.03	0.09	1.15	0.08	(0.18)	0.30	(0.29)	1.07
REMVX	0.80	0.07	0.07	(0.77)	0.94	(0.86)	1.67	(1.56)	5.76

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