Federated Muni Correlations

FMUAX Fund

USD 14.74 0.06 0.41%

The current 90-days correlation between Federated Muni And and Federated Emerging Market is 0.25 (i.e., Modest diversification). The correlation of Federated Muni 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 Muni Correlation With Market

Significant diversification

The correlation between Federated Muni And and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Muni And 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 Muni And. 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 nation.

Moving together with Federated Mutual Fund

0.66	EMDIX	Federated Emerging Market	Pair Corr
0.74	QKACX	Federated Mdt All	Pair Corr
0.62	QKBGX	Federated Mdt Balanced	Pair Corr
0.93	SBFIX	Federated Global All	Pair Corr
0.68	STISX	Federated Strategic	Pair Corr
0.84	FSBCX	Federated Global All	Pair Corr
0.85	FSBKX	Federated Global All	Pair Corr
0.93	FSBLX	Federated Global All	Pair Corr
0.72	QLSGX	Federated Mdt Small	Pair Corr
0.74	QLSCX	Federated Mdt Small	Pair Corr
0.63	FSHIX	Federated Short-intermedia	Pair Corr
0.63	FSHSX	Federated Short-intermedia	Pair Corr
0.85	FSTBX	Federated Global All	Pair Corr

Related Correlations Analysis

	EMDIX	QKACX	QKBGX	SBFIX	FRIEX	STFSX	STIAX	STILX	STISX	FRSAX
EMDIX		0.44	0.5	0.78	0.39	0.78	0.9	0.9	0.96	0.02	EMDIX
QKACX	0.44		0.86	0.66	0.13	0.25	0.44	0.44	0.55	0.54	QKACX
QKBGX	0.5	0.86		0.57	0.46	0.49	0.65	0.64	0.65	0.16	QKBGX
SBFIX	0.78	0.66	0.57		0.1	0.59	0.65	0.64	0.77	0.4	SBFIX
FRIEX	0.39	0.13	0.46	0.1		0.64	0.67	0.67	0.48	-0.62	FRIEX
STFSX	0.78	0.25	0.49	0.59	0.64		0.86	0.85	0.8	-0.3	STFSX
STIAX	0.9	0.44	0.65	0.65	0.67	0.86		1.0	0.96	-0.23	STIAX
STILX	0.9	0.44	0.64	0.64	0.67	0.85	1.0		0.96	-0.23	STILX
STISX	0.96	0.55	0.65	0.77	0.48	0.8	0.96	0.96		0.0	STISX
FRSAX	0.02	0.54	0.16	0.4	-0.62	-0.3	-0.23	-0.23	0.0		FRSAX
	EMDIX	QKACX	QKBGX	SBFIX	FRIEX	STFSX	STIAX	STILX	STISX	FRSAX

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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	+ 0.96	EMDIX
STISX	+ 0.96	STIAX
STISX	+ 0.96	STILX
STIAX	+ 0.9	EMDIX
STILX	+ 0.9	EMDIX

High negative correlations

FRSAX	- 0.62	FRIEX
FRSAX	- 0.3	STFSX
FRSAX	- 0.23	STILX
FRSAX	- 0.23	STIAX
FRSAX	- 0.0	STISX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Muni 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 Muni'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	0.22	(0.05)	0.00	(0.59)	0.00	0.26	(0.38)	2.56
QKACX	0.72	(0.04)	0.00	(0.09)	0.00	1.34	(1.24)	10.29
QKBGX	0.56	(0.15)	0.00	(0.63)	0.00	0.85	(0.98)	9.77
SBFIX	0.38	(0.05)	0.00	(0.67)	0.00	0.59	(0.76)	3.03
FRIEX	0.66	(0.10)	0.00	2.71	0.00	1.45	(1.41)	4.82
STFSX	0.20	(0.06)	0.00	39.59	0.00	0.24	(0.49)	1.59
STIAX	0.20	(0.06)	0.00	(0.95)	0.00	0.24	(0.48)	1.58
STILX	0.20	(0.06)	0.00	(0.82)	0.00	0.24	(0.48)	1.82
STISX	0.19	(0.05)	0.00	(0.65)	0.00	0.24	(0.48)	1.71
FRSAX	0.04	0.00	(0.11)	0.09	(0.17)	0.12	(0.12)	0.70

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