Federated Premier Correlations

FMN Fund

USD 10.84 0.07 0.64%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Federated Premier moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Federated Premier Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Federated Premier Correlation With Market

Modest diversification

The correlation between Federated Premier Municipal and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Premier Municipal 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 Premier Municipal. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Federated Fund

0.62	RNP	Cohen Steers Reit	Pair Corr
0.77	PGLSX	Global Multi Strategy	Pair Corr
0.64	DLDFX	Destinations Low Duration	Pair Corr
0.67	HWACX	Hotchkis Wiley Value	Pair Corr
0.67	TIMUX	Transamerica Intermediate	Pair Corr
0.74	DBIWX	Dws Global Macro	Pair Corr

Moving against Federated Fund

0.5	IIF	Morgan Stanley India	Pair Corr
0.45	IFN	India Closed	Pair Corr

Related Correlations Analysis

	KSM	CXH	EVN	MNP	DTF
KSM		0.0	0.0	0.0	0.0	KSM
CXH	0.0		0.76	0.0	0.83	CXH
EVN	0.0	0.76		0.0	0.69	EVN
MNP	0.0	0.0	0.0		0.0	MNP
DTF	0.0	0.83	0.69	0.0		DTF
	KSM	CXH	EVN	MNP	DTF

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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

DTF	+ 0.83	CXH
EVN	+ 0.76	CXH
DTF	+ 0.69	EVN
CXH	+ 0.0	KSM
EVN	+ 0.0	KSM
MNP	+ 0.0	KSM

High negative correlations

DTF	- 0.0	MNP
MNP	- 0.0	EVN
MNP	- 0.0	CXH
DTF	- 0.0	KSM
MNP	- 0.0	KSM
EVN	- 0.0	KSM

Risk-Adjusted Indicators

There is a big difference between Federated Fund performing well and Federated Premier 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 Premier'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
KSM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CXH	0.38	(0.01)	(0.01)	(0.08)	0.55	(0.37)	0.76	(0.98)	2.37
EVN	0.55	0.06	0.09	0.31	0.56	(0.66)	1.40	(1.04)	4.09
MNP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DTF	0.31	0.01	0.03	0.31	0.45	(0.33)	0.72	(0.62)	1.64

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