Federated High Correlations

FHTIX Fund

USD 6.50 0.01 0.15%

The current 90-days correlation between Federated High Yield and Eagle Growth Income is 0.66 (i.e., Poor diversification). The correlation of Federated High 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 High Correlation With Market

Poor diversification

The correlation between Federated High Yield and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated High Yield 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 High Yield. 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 gross domestic product.

Moving together with Federated Mutual Fund

0.82	QKACX	Federated Mdt All	Pair Corr
0.67	SBFIX	Federated Global All	Pair Corr
0.7	FSBCX	Federated Global All	Pair Corr
0.69	FSBKX	Federated Global All	Pair Corr
0.65	FSBLX	Federated Global All	Pair Corr
0.65	QLSGX	Federated Mdt Small	Pair Corr
0.69	QLSCX	Federated Mdt Small Steady Growth	Pair Corr
0.67	FSTKX	Federated Mdt Large	Pair Corr
0.75	FSTLX	Federated Mdt Large	Pair Corr
0.66	FSTRX	Federated Mdt Large	Pair Corr
0.61	FSTBX	Federated Global All	Pair Corr

Moving against Federated Mutual Fund

0.64

BEARX

Federated Prudent Bear

Pair Corr

Related Correlations Analysis

	HIGCX	LMLRX	CIPMX	SLWGX	RPNCX	PSIJX	AUERX
HIGCX		0.64	0.75	0.23	0.58	0.77	0.45	HIGCX
LMLRX	0.64		0.42	0.79	0.78	0.87	0.59	LMLRX
CIPMX	0.75	0.42		-0.06	0.31	0.5	0.08	CIPMX
SLWGX	0.23	0.79	-0.06		0.77	0.64	0.57	SLWGX
RPNCX	0.58	0.78	0.31	0.77		0.78	0.41	RPNCX
PSIJX	0.77	0.87	0.5	0.64	0.78		0.64	PSIJX
AUERX	0.45	0.59	0.08	0.57	0.41	0.64		AUERX
	HIGCX	LMLRX	CIPMX	SLWGX	RPNCX	PSIJX	AUERX

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

PSIJX	+ 0.87	LMLRX
SLWGX	+ 0.79	LMLRX
RPNCX	+ 0.78	LMLRX
PSIJX	+ 0.78	RPNCX
PSIJX	+ 0.77	HIGCX
RPNCX	+ 0.77	SLWGX

High negative correlations

SLWGX

- 0.06

CIPMX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated High 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 High'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
HIGCX	0.50	(0.05)	(0.08)	0.01	0.69	(0.49)	1.04	(1.12)	2.97
LMLRX	0.24	(0.01)	(0.14)	0.03	0.28	(0.26)	0.51	(0.57)	1.38
CIPMX	0.64	(0.09)	0.00	(0.03)	0.00	0.00	1.26	(1.27)	3.85
SLWGX	0.82	0.13	0.06	2.59	0.99	(0.89)	1.94	(1.78)	5.00
RPNCX	1.19	0.12	0.04	0.59	1.50	(1.33)	2.46	(2.28)	8.43
PSIJX	1.11	(0.01)	0.01	0.06	1.50	(1.12)	2.72	(2.27)	6.75
AUERX	1.04	(0.12)	0.00	(0.03)	0.00	0.00	1.96	(1.80)	4.33

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