Federated Max-cap Correlations

MXCCX Fund

USD 7.11 0.01 0.14%

The current 90-days correlation between Federated Max Cap and T Rowe Price is 0.56 (i.e., Very weak diversification). The correlation of Federated Max-cap 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 Max-cap Correlation With Market

Modest diversification

The correlation between Federated Max Cap Index and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Max Cap Index and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Federated Max Cap Index. 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

0.91	QKACX	Federated Mdt All	Pair Corr
0.99	QKBGX	Federated Mdt Balanced	Pair Corr
0.78	QLSGX	Federated Mdt Small	Pair Corr
0.82	QLSCX	Federated Mdt Small	Pair Corr
0.99	FSTKX	Federated Mdt Large	Pair Corr
0.98	FSTLX	Federated Mdt Large	Pair Corr
0.99	FSTRX	Federated Mdt Large	Pair Corr
0.65	FTGSX	Federated Total Return	Pair Corr
0.62	SVACX	Federated Strategic Value	Pair Corr
0.81	PIUCX	Pnc International Equity	Pair Corr
0.81	PIUIX	Pnc International Equity	Pair Corr

Moving against Federated Mutual Fund

0.47	FRSAX	Federated Floating Rate	Pair Corr
0.34	FSGVX	Federated U S	Pair Corr
0.36	FSILX	Federated Short Term	Pair Corr
0.36	FTIAX	Federated Short Term	Pair Corr
0.35	FSTIX	Federated Short Term	Pair Corr
0.34	FSTYX	Federated Short Term	Pair Corr
0.54	FULIX	Federated Ultrashort Bond	Pair Corr
0.53	FULAX	Federated Ultrashort Bond	Pair Corr
0.51	FULBX	Federated Ultrashort Bond	Pair Corr

Related Correlations Analysis

	TRSZX	FCPVX	TRZZX	TRMNX	UAPIX	PFSVX
TRSZX		0.9	0.67	1.0	0.8	0.67	TRSZX
FCPVX	0.9		0.82	0.89	0.94	0.86	FCPVX
TRZZX	0.67	0.82		0.66	0.91	0.93	TRZZX
TRMNX	1.0	0.89	0.66		0.79	0.66	TRMNX
UAPIX	0.8	0.94	0.91	0.79		0.94	UAPIX
PFSVX	0.67	0.86	0.93	0.66	0.94		PFSVX
	TRSZX	FCPVX	TRZZX	TRMNX	UAPIX	PFSVX

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Max-cap 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 Max-cap'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TRSZX	0.89	(0.05)	(0.06)	1.63	(1.64)	6.12
FCPVX	0.73	(0.07)	(0.09)	1.53	(1.70)	5.52
TRZZX	0.91	(0.23)	(0.29)	1.53	(1.93)	15.26
TRMNX	0.89	(0.05)	(0.06)	1.63	(1.60)	6.11
UAPIX	1.66	(0.21)	(0.13)	3.23	(3.11)	12.42
PFSVX	1.10	(0.28)	(0.15)	1.79	(1.84)	17.29

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