Federated Correlations

FSGVX Fund

USD 9.45 0.10 0.10%

The current 90-days correlation between Federated U S and Federated Hermes Mdt is 0.03 (i.e., Significant diversification). The correlation of Federated 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 Correlation With Market

Significant diversification

The correlation between Federated U S and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated U S and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. 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 real.

Moving together with Federated Mutual Fund

0.69	STILX	Federated Strategic	Pair Corr
0.66	FSGIX	Federated Gov Sec	Pair Corr
0.77	FSHSX	Federated Short-intermedia	Pair Corr
0.65	FSILX	Federated Short Term	Pair Corr
0.64	FSTIX	Federated Short Term	Pair Corr
0.66	FSTYX	Federated Short Term	Pair Corr
0.71	PIEFX	Pnc Emerging Markets	Pair Corr
0.65	SVALX	Federated Strategic Value	Pair Corr
0.65	FTIAX	Federated Short Term	Pair Corr
0.8	FTGLX	Federated Total Return	Pair Corr
0.81	FTGSX	Federated Total Return	Pair Corr
0.75	SVAIX	Federated Strategic Value	Pair Corr
0.71	PIUCX	Pnc International Equity	Pair Corr
0.74	RRFCX	Federated Real Return	Pair Corr
0.74	RRFIX	Federated Real Return	Pair Corr
0.87	FTRBX	Federated Total Return	Pair Corr
0.82	FTRKX	Federated Total Return	Pair Corr
0.81	FTRLX	Federated Total Return	Pair Corr
0.81	FCBRX	Federated Hermes	Pair Corr
0.92	FCSPX	Federated Porate Bond	Pair Corr
0.82	FUSCX	Federated Fund For	Pair Corr
0.81	FDBCX	Federated Bond	Pair Corr
0.81	FUSGX	Federated Fund For	Pair Corr
0.9	FDBAX	Federated Bond	Pair Corr

Moving against Federated Mutual Fund

0.81	QLSGX	Federated Mdt Small	Pair Corr
0.49	QLSCX	Federated Mdt Small	Pair Corr

Related Correlations Analysis

	QAMNX	QALGX	FHBRX	FHBBX	ICBRX	FHCOX	ICFBX	FHESX	FHERX
QAMNX		-0.08	0.71	0.0	0.6	0.67	0.0	0.08	0.13	QAMNX
QALGX	-0.08		-0.13	0.0	-0.57	-0.61	0.0	0.46	0.4	QALGX
FHBRX	0.71	-0.13		0.0	0.85	0.79	0.0	-0.11	-0.05	FHBRX
FHBBX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	FHBBX
ICBRX	0.6	-0.57	0.85	0.0		0.93	0.0	-0.34	-0.26	ICBRX
FHCOX	0.67	-0.61	0.79	0.0	0.93		0.0	-0.37	-0.29	FHCOX
ICFBX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ICFBX
FHESX	0.08	0.46	-0.11	0.0	-0.34	-0.37	0.0		0.96	FHESX
FHERX	0.13	0.4	-0.05	0.0	-0.26	-0.29	0.0	0.96		FHERX
	QAMNX	QALGX	FHBRX	FHBBX	ICBRX	FHCOX	ICFBX	FHESX	FHERX

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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

FHERX	+ 0.96	FHESX
FHCOX	+ 0.93	ICBRX
ICBRX	+ 0.85	FHBRX
FHCOX	+ 0.79	FHBRX
FHBRX	+ 0.71	QAMNX
FHCOX	+ 0.67	QAMNX

High negative correlations

FHCOX	- 0.61	QALGX
ICBRX	- 0.57	QALGX
FHESX	- 0.37	FHCOX
FHESX	- 0.34	ICBRX
FHERX	- 0.29	FHCOX
FHERX	- 0.26	ICBRX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated 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'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
QAMNX	0.24	0.03	0.35	0.35	0.19	(0.27)	0.60	(0.40)	1.31
QALGX	1.03	(0.08)	0.00	(0.15)	0.00	0.00	2.02	(2.54)	5.91
FHBRX	0.11	0.02	0.44	0.25	0.00	(0.18)	0.30	(0.29)	0.90
FHBBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICBRX	0.17	0.03	0.49	1.15	0.00	(0.23)	0.36	(0.35)	0.95
FHCOX	0.05	0.01	0.00	(6.09)	0.00	0.00	0.40	(0.10)	0.51
ICFBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FHESX	0.68	(0.16)	0.00	2.05	0.00	0.00	1.23	(1.52)	3.08
FHERX	0.69	(0.16)	0.00	18.17	0.00	0.00	1.30	(1.59)	3.47

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