Federated Ohio Correlations

Mutual Funds . USA . 
Fund . Federated Ohio Municipal
OMIAX Fund  USD 10.44  0.02  0.19%   
The current 90-days correlation between Federated Ohio Municipal and Voya Real Estate is 0.41 (i.e., Very weak diversification). The correlation of Federated Ohio 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 Ohio Correlation With Market

Modest diversification

The correlation between Federated Ohio Municipal and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Ohio Municipal and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Federated Ohio Municipal. 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

  0.67EMDIX Federated Emerging MarketPairCorr
  0.81QKACX Federated Mdt AllPairCorr
  0.81QKBGX Federated Mdt BalancedPairCorr
  0.78SBFIX Federated Global AllPairCorr
  0.82STFSX Federated StrategicPairCorr
  0.79STIAX Federated StrategicPairCorr
  0.76STILX Federated StrategicPairCorr
  0.76STISX Federated StrategicPairCorr
  0.78FSBCX Federated Global AllPairCorr
  0.79FSBKX Federated Global AllPairCorr
  0.76FSBLX Federated Global AllPairCorr
  0.81FSHIX Federated Short-intermediaPairCorr
  0.9INISX Federated IntermediatePairCorr
  0.86FSHSX Federated Short IntePairCorr
  0.8FSTKX Federated Mdt LargePairCorr
  0.82FSTLX Federated Mdt LargePairCorr
  0.8FSTRX Federated Mdt LargePairCorr
  0.79FSTBX Federated Global AllPairCorr
  0.66PIGDX Pnc International GrowthPairCorr
  0.94FTGLX Federated Total ReturnPairCorr
  0.95FTGSX Federated Total ReturnPairCorr
  0.7SVAAX Federated Strategic ValuePairCorr
  0.78SVAIX Federated Strategic ValuePairCorr
  0.8SVACX Federated Strategic ValuePairCorr
  0.78PIUCX Pnc International EquityPairCorr
  0.72PIUIX Pnc International EquityPairCorr
  0.84RRFAX Federated Real ReturnPairCorr
  0.83RRFCX Federated Real ReturnPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Ohio 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 Ohio'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.

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