Federated Government Correlations

FICMX Fund

USD 8.90 0.04 0.45%

The current 90-days correlation between Federated Government and Ab High Income is 0.54 (i.e., Very weak diversification). The correlation of Federated Government 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 Government Correlation With Market

Significant diversification

The correlation between Federated Government Income and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Government Income 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 Government Income. 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 population.

Moving together with Federated Mutual Fund

0.79	FSGIX	Federated Gov Sec	Pair Corr
0.98	INISX	Federated Intermediate	Pair Corr
0.88	FSILX	Federated Short Term	Pair Corr
0.89	FSTIX	Federated Short Term	Pair Corr
0.83	FSTYX	Federated Short Term	Pair Corr
0.89	FTIAX	Federated Short Term	Pair Corr
0.99	FTGSX	Federated Total Return	Pair Corr
0.96	RRFAX	Federated Real Return	Pair Corr
0.96	RRFIX	Federated Real Return	Pair Corr
1.0	FTRBX	Federated Total Return	Pair Corr
0.99	FTRFX	Federated Total Return	Pair Corr
0.99	FTRGX	Federated Total Return	Pair Corr
0.98	FTRLX	Federated Total Return	Pair Corr

Moving against Federated Mutual Fund

0.65	QLSGX	Federated Mdt Small	Pair Corr
0.6	QLSCX	Federated Mdt Small	Pair Corr
0.55	QKACX	Federated Mdt All	Pair Corr
0.44	QKBGX	Federated Mdt Balanced	Pair Corr
0.43	FSBCX	Federated Global All	Pair Corr
0.42	SBFIX	Federated Global All	Pair Corr
0.42	FSBKX	Federated Global All	Pair Corr
0.42	FSBLX	Federated Global All	Pair Corr
0.42	FSTBX	Federated Global All	Pair Corr
0.36	FSTRX	Federated Mdt Large	Pair Corr
0.34	FSTKX	Federated Mdt Large	Pair Corr
0.33	FSTLX	Federated Mdt Large	Pair Corr

Related Correlations Analysis

	ABTYX	VTINX	FYAIX	AGTFX	PBHAX	PARJX
ABTYX		0.64	0.68	0.56	0.85	0.63	ABTYX
VTINX	0.64		0.95	0.89	0.89	0.95	VTINX
FYAIX	0.68	0.95		0.91	0.91	0.96	FYAIX
AGTFX	0.56	0.89	0.91		0.76	0.98	AGTFX
PBHAX	0.85	0.89	0.91	0.76		0.85	PBHAX
PARJX	0.63	0.95	0.96	0.98	0.85		PARJX
	ABTYX	VTINX	FYAIX	AGTFX	PBHAX	PARJX

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Government 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 Government'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
ABTYX	0.47	(0.06)	0.00	0.20	0.00	0.00	0.89	(1.68)	4.99
VTINX	0.33	0.04	0.28	0.01	0.45	(0.34)	0.62	(0.68)	2.96
FYAIX	0.34	0.03	0.00	(0.04)	0.00	0.00	0.58	(0.86)	4.34
AGTFX	1.06	0.06	0.00	(0.08)	0.00	0.00	1.90	(2.32)	11.58
PBHAX	0.21	0.01	0.32	(0.03)	0.28	(0.32)	0.43	(0.42)	2.11
PARJX	0.59	0.04	0.00	(0.06)	0.00	0.00	1.01	(1.20)	5.61

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