Federated High Correlations

Mutual Funds . USA . 
Fund . Federated High Yield
FHYSX Fund  USD 11.91  0.05  0.42%   
The current 90-days correlation between Federated High Yield and Gamco Global Gold is 0.11 (i.e., Average 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 0.76 (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 main economic indicators.

Moving together with Federated Mutual Fund

  0.8EMDIX Federated Emerging MarketPairCorr
  0.75QKACX Federated Mdt AllPairCorr
  0.7QKBGX Federated Mdt BalancedPairCorr
  0.86SBFIX Federated Global AllPairCorr
  0.66FRIEX Federated Hermes EmergingPairCorr
  0.83STIAX Federated StrategicPairCorr
  0.92STILX Federated StrategicPairCorr
  0.83FRSAX Federated Floating RatePairCorr
  0.85FSBCX Federated Global AllPairCorr
  0.86FSBKX Federated Global AllPairCorr
  0.85FSBLX Federated Global AllPairCorr
  0.8QLSGX Federated Mdt SmallPairCorr
  0.89QLSCX Federated Mdt SmallPairCorr
  0.84FSHIX Federated Short-intermediaPairCorr
  0.76INISX Federated IntermediatePairCorr
  0.82FSHSX Federated Short IntePairCorr
  0.86FSILX Federated Short TermPairCorr
  0.94FSTIX Federated Short TermPairCorr
  0.88FSTKX Federated Mdt LargePairCorr
  0.88FSTLX Federated Mdt LargePairCorr
  0.88FSTRX Federated Mdt LargePairCorr
  0.96FSTYX Federated Short TermPairCorr
  0.69PIEFX Pnc Emerging MarketsPairCorr
  0.75FTIAX Federated Short TermPairCorr
  0.7SVACX Federated Strategic ValuePairCorr
  0.63FTRBX Federated Total ReturnPairCorr
  0.64FTRLX Federated Total ReturnPairCorr
  0.95FULAX Federated Ultrashort BondPairCorr
  0.76FULBX Federated Ultrashort BondPairCorr
  0.94FULIX Federated Ultrashort BondPairCorr
  0.76FULLX Federated Hermes UltPairCorr
  0.61FDBLX Federated BondPairCorr

Moving against Federated Mutual Fund

  0.8PIGDX Pnc International GrowthPairCorr
  0.79PIUCX Pnc International EquityPairCorr
  0.69PIUIX Pnc International EquityPairCorr

Related Correlations Analysis


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.

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