Federated Municipal Correlations

FMNCX Fund

USD 8.13 0.01 0.12%

The current 90-days correlation between Federated Municipal High and T Rowe Price is -0.03 (i.e., Good diversification). The correlation of Federated Municipal 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 Municipal Correlation With Market

Average diversification

The correlation between Federated Municipal High and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Municipal High 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 Municipal High. 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 main economic indicators.

Moving together with Federated Mutual Fund

0.77	EMDIX	Federated Emerging Market	Pair Corr
0.63	QKBGX	Federated Mdt Balanced	Pair Corr
0.61	SBFIX	Federated Global All	Pair Corr
0.72	STFSX	Federated Strategic	Pair Corr
0.81	STIAX	Federated Strategic	Pair Corr
0.79	STILX	Federated Strategic	Pair Corr
0.84	STISX	Federated Strategic	Pair Corr
0.64	FSBCX	Federated Global All	Pair Corr
0.63	FSBKX	Federated Global All	Pair Corr
0.61	FSBLX	Federated Global All	Pair Corr
0.74	FSGVX	Federated U S	Pair Corr
0.98	FSHIX	Federated Short-intermedia	Pair Corr
0.78	FSGIX	Federated Gov Sec	Pair Corr
0.73	INISX	Federated Intermediate	Pair Corr
0.95	FSHSX	Federated Short-intermedia	Pair Corr
0.8	FSTYX	Federated Short Term	Pair Corr
0.61	FSTBX	Federated Global All	Pair Corr
0.65	PIGDX	Pnc International Growth	Pair Corr
0.78	FTIAX	Federated Short Term	Pair Corr
0.72	FTIBX	Federated Global Total	Pair Corr
0.68	FTIIX	Federated Global Total	Pair Corr
0.79	FTGLX	Federated Total Return	Pair Corr
0.82	FTGSX	Federated Total Return	Pair Corr

Related Correlations Analysis

	TRBCX	PQUAX	LMLRX	TFAGX	CIPMX	HSUAX	TEGAX	LGLSX
TRBCX		0.67	0.31	0.93	0.36	0.94	0.79	0.94	TRBCX
PQUAX	0.67		0.72	0.85	0.86	0.66	0.92	0.69	PQUAX
LMLRX	0.31	0.72		0.55	0.86	0.34	0.59	0.24	LMLRX
TFAGX	0.93	0.85	0.55		0.62	0.87	0.89	0.88	TFAGX
CIPMX	0.36	0.86	0.86	0.62		0.38	0.72	0.35	CIPMX
HSUAX	0.94	0.66	0.34	0.87	0.38		0.83	0.96	HSUAX
TEGAX	0.79	0.92	0.59	0.89	0.72	0.83		0.86	TEGAX
LGLSX	0.94	0.69	0.24	0.88	0.35	0.96	0.86		LGLSX
	TRBCX	PQUAX	LMLRX	TFAGX	CIPMX	HSUAX	TEGAX	LGLSX

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Municipal 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 Municipal'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
TRBCX	0.74	0.12	0.09	1.01	0.91	(0.73)	1.57	(1.50)	5.70
PQUAX	0.96	0.04	0.03	0.10	1.20	(0.99)	1.74	(1.49)	8.81
LMLRX	0.28	(0.05)	0.00	(0.32)	0.00	0.00	0.53	(0.53)	3.02
TFAGX	0.61	0.06	0.05	0.35	0.85	(0.66)	1.34	(1.32)	5.84
CIPMX	0.82	(0.06)	0.00	(0.30)	0.00	0.00	1.26	(1.21)	12.40
HSUAX	0.71	0.08	0.06	(6.36)	0.88	(0.79)	1.31	(1.23)	6.61
TEGAX	0.92	0.07	0.05	0.42	1.16	(0.95)	2.02	(1.56)	7.72
LGLSX	0.96	0.20	0.12	3.21	1.23	(0.95)	2.43	(1.75)	7.49

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Federated Municipal Correlations

Federated Municipal Correlation With Market

Average diversification

Moving together with Federated Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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