Federated Prudent Correlations

BEARX Fund

USD 4.03 0.03 0.74%

The current 90-days correlation between Federated Prudent Bear and Mesirow Financial Small is 0.13 (i.e., Average diversification). The correlation of Federated Prudent 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 Prudent Correlation With Market

Good diversification

The correlation between Federated Prudent Bear and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Prudent Bear and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Federated Prudent Bear. 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 against Federated Mutual Fund

0.91	SBFIX	Federated Global All	Pair Corr
0.91	FSTBX	Federated Global All	Pair Corr
0.81	QLSGX	Federated Mdt Small	Pair Corr
0.79	QLSCX	Federated Mdt Small	Pair Corr
0.78	FSBCX	Federated Global All	Pair Corr
0.77	FSBKX	Federated Global All	Pair Corr
0.76	FSBLX	Federated Global All	Pair Corr
0.73	FSTKX	Federated Mdt Large	Pair Corr
0.72	QKACX	Federated Mdt All	Pair Corr
0.67	FSTRX	Federated Mdt Large	Pair Corr
0.6	PIEFX	Pnc Emerging Markets	Pair Corr
0.58	STIAX	Federated Strategic	Pair Corr
0.57	EMDIX	Federated Emerging Market	Pair Corr
0.57	STFSX	Federated Strategic	Pair Corr
0.56	STISX	Federated Strategic	Pair Corr
0.52	FSTLX	Federated Mdt Large	Pair Corr
0.51	STILX	Federated Strategic	Pair Corr
0.49	FRSAX	Federated Floating Rate	Pair Corr
0.44	QKBGX	Federated Mdt Balanced	Pair Corr
0.41	FSILX	Federated Short Term	Pair Corr
0.36	FSTYX	Federated Short Term	Pair Corr
0.35	INISX	Federated Intermediate	Pair Corr
0.35	FSTIX	Federated Short Term	Pair Corr
0.35	FTIAX	Federated Short Term	Pair Corr
0.79	PIUCX	Pnc International Equity	Pair Corr
0.72	VSFIX	Federated Clover Small	Pair Corr
0.62	PIUIX	Pnc International Equity	Pair Corr
0.5	FULLX	Federated Hermes Ult	Pair Corr
0.5	FDERX	Federated Equity Income	Pair Corr
0.48	VSFSX	Federated Clover Small	Pair Corr
0.48	FEUNX	Federated Hermes Adj	Pair Corr
0.41	LMBIX	Federated Municipal Bond	Pair Corr
0.39	FULIX	Federated Ultrashort Bond	Pair Corr
0.38	FULAX	Federated Ultrashort Bond	Pair Corr
0.37	FULBX	Federated Ultrashort Bond	Pair Corr

Related Correlations Analysis

	MSVIX	XAFBX	PRSAX	BBINX	SMAAX	PCMNX
MSVIX		-0.26	-0.28	-0.17	-0.1	-0.1	MSVIX
XAFBX	-0.26		0.81	0.83	0.81	0.82	XAFBX
PRSAX	-0.28	0.81		0.88	0.73	0.81	PRSAX
BBINX	-0.17	0.83	0.88		0.92	0.97	BBINX
SMAAX	-0.1	0.81	0.73	0.92		0.93	SMAAX
PCMNX	-0.1	0.82	0.81	0.97	0.93		PCMNX
	MSVIX	XAFBX	PRSAX	BBINX	SMAAX	PCMNX

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

PCMNX	+ 0.97	BBINX
PCMNX	+ 0.93	SMAAX
SMAAX	+ 0.92	BBINX
BBINX	+ 0.88	PRSAX
BBINX	+ 0.83	XAFBX
PCMNX	+ 0.82	XAFBX

High negative correlations

PRSAX	- 0.28	MSVIX
XAFBX	- 0.26	MSVIX
BBINX	- 0.17	MSVIX
PCMNX	- 0.1	MSVIX
SMAAX	- 0.1	MSVIX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Prudent 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 Prudent'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
MSVIX	0.88	(0.07)	(0.04)	0.04	1.03	(1.00)	1.85	(1.56)	5.04
XAFBX	0.18	0.02	(0.26)	0.43	0.00	(0.26)	0.58	(0.33)	1.43
PRSAX	0.07	(0.01)	(0.86)	(0.19)	0.01	(0.14)	0.10	(0.10)	0.70
BBINX	0.06	0.00	(0.73)	0.35	0.00	(0.13)	0.10	(0.10)	0.58
SMAAX	0.07	0.00	(0.71)	0.16	0.00	(0.13)	0.20	(0.10)	0.49
PCMNX	0.07	0.02	(0.68)	0.96	0.00	(0.11)	0.16	(0.08)	0.49

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