Federated International Correlations

FGRSX Fund

USD 36.90 0.07 0.19%

The current 90-days correlation between Federated International and Federated International Leaders is 1.0 (i.e., No risk reduction). The correlation of Federated International 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 International Correlation With Market

Very weak diversification

The correlation between Federated International Leader and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated International Leader 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 International Leaders. 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 state.

Moving together with Federated Mutual Fund

0.63	EMDIX	Federated Emerging Market	Pair Corr
0.71	INISX	Federated Intermediate	Pair Corr
0.86	FTIBX	Federated Global Total	Pair Corr
0.86	FTIIX	Federated Global Total	Pair Corr
0.75	FTGLX	Federated Total Return	Pair Corr
0.75	FTGSX	Federated Total Return	Pair Corr
0.91	PIUCX	Pnc International Equity	Pair Corr
0.89	PIUIX	Pnc International Equity	Pair Corr

Moving against Federated Mutual Fund

0.88	FRSAX	Federated Floating Rate	Pair Corr
0.74	QKACX	Federated Mdt All	Pair Corr
0.66	QLSCX	Federated Mdt Small	Pair Corr
0.65	QKBGX	Federated Mdt Balanced	Pair Corr
0.64	QLSGX	Federated Mdt Small	Pair Corr
0.73	FSTLX	Federated Mdt Large	Pair Corr
0.73	FSTRX	Federated Mdt Large	Pair Corr
0.72	FSTKX	Federated Mdt Large	Pair Corr
0.56	SVALX	Federated Strategic Value	Pair Corr
0.7	FULBX	Federated Ultrashort Bond	Pair Corr
0.69	FULAX	Federated Ultrashort Bond	Pair Corr
0.56	SVAAX	Federated Strategic Value	Pair Corr
0.54	SVAIX	Federated Strategic Value	Pair Corr
0.52	SVACX	Federated Strategic Value	Pair Corr

Related Correlations Analysis

	FGFAX	CTHRX	CBDYX	FZAAX	JVTNX
FGFAX		-0.61	-0.47	-0.35	-0.65	FGFAX
CTHRX	-0.61		0.88	0.87	0.82	CTHRX
CBDYX	-0.47	0.88		0.79	0.87	CBDYX
FZAAX	-0.35	0.87	0.79		0.59	FZAAX
JVTNX	-0.65	0.82	0.87	0.59		JVTNX
	FGFAX	CTHRX	CBDYX	FZAAX	JVTNX

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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

CBDYX	+ 0.88	CTHRX
FZAAX	+ 0.87	CTHRX
JVTNX	+ 0.87	CBDYX
JVTNX	+ 0.82	CTHRX
FZAAX	+ 0.79	CBDYX
JVTNX	+ 0.59	FZAAX

High negative correlations

JVTNX	- 0.65	FGFAX
CTHRX	- 0.61	FGFAX
CBDYX	- 0.47	FGFAX
FZAAX	- 0.35	FGFAX

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated International 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 International'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
FGFAX	0.69	(0.20)	0.00	(0.26)	0.00	0.00	1.04	(1.74)	4.35
CTHRX	0.95	(0.02)	(0.01)	0.11	1.35	(0.94)	1.96	(2.55)	6.07
CBDYX	0.34	(0.01)	(0.16)	0.10	0.39	(0.35)	0.76	(0.91)	2.34
FZAAX	0.24	(0.01)	(0.21)	0.08	0.27	(0.41)	0.57	(0.67)	1.87
JVTNX	0.81	(0.03)	(0.01)	0.10	0.82	(0.94)	1.69	(1.59)	5.97

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