Federated Municipal Correlations

Mutual Funds . USA . 
Fund . Federated Municipal Ultrashort
FMUSX Fund  USD 10.02  0.01  0.1%   
The current 90-days correlation between Federated Municipal and Touchstone Premium Yield is -0.16 (i.e., Good diversification). The correlation of Federated Municipal 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 Municipal Correlation With Market

Good diversification

The correlation between Federated Municipal Ultrashort and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Municipal Ultrashort 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 Municipal Ultrashort. 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

  0.82EMDIX Federated Emerging MarketPairCorr
  0.74QKACX Federated Mdt AllPairCorr
  0.77QKBGX Federated Mdt BalancedPairCorr
  0.75SBFIX Federated Global AllPairCorr
  0.74FRIEX Federated Hermes EmergingPairCorr
  0.75STILX Federated StrategicPairCorr
  0.75STISX Federated StrategicPairCorr
  0.85FRSAX Federated Floating RatePairCorr
  0.74FSBCX Federated Global AllPairCorr
  0.74FSBKX Federated Global AllPairCorr
  0.75FSBLX Federated Global AllPairCorr
  0.76QLSGX Federated Mdt SmallPairCorr
  0.68QLSCX Federated Mdt SmallPairCorr
  0.88FSHIX Federated Short-intermediaPairCorr
  0.9INISX Federated IntermediatePairCorr
  0.86FSHSX Federated Short-intermediaPairCorr
  0.94FSILX Federated Short TermPairCorr
  0.89FSTIX Federated Short TermPairCorr
  0.73FSTKX Federated Mdt LargePairCorr
  0.69FSTLX Federated Mdt LargePairCorr
  0.73FSTRX Federated Mdt LargePairCorr
  0.91FSTYX Federated Short TermPairCorr
  0.77FSTBX Federated Global AllPairCorr
  0.72PIEFX Pnc Emerging MarketsPairCorr
  0.74PIGDX Pnc International GrowthPairCorr
  0.9FTIAX Federated Short TermPairCorr
  0.76PIUCX Pnc International EquityPairCorr
  0.76PIUIX Pnc International EquityPairCorr

Moving against Federated Mutual Fund

  0.75BEARX Federated Prudent BearPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Municipal 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 Municipal'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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