Federated Max Correlations

Mutual Funds . USA . 
Fund . Federated Max Cap Index
MXCCX Fund  USD 7.50  0.04  0.54%   
The current 90-days correlation between Federated Max Cap and Federated Emerging Market is -0.15 (i.e., Good diversification). The correlation of Federated Max 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 Max Correlation With Market

Almost no diversification

The correlation between Federated Max Cap Index and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Max Cap Index and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Federated Max Cap Index. 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

  0.95EMDIX Federated Emerging MarketPairCorr
  1.0QKACX Federated Mdt AllPairCorr
  0.98QKBGX Federated Mdt BalancedPairCorr
  0.99SBFIX Federated Global AllPairCorr
  0.97FRIEX Federated Hermes EmergingPairCorr
  0.91STFSX Federated StrategicPairCorr
  0.91STIAX Federated StrategicPairCorr
  0.93STILX Federated StrategicPairCorr
  0.93STISX Federated StrategicPairCorr
  0.97FRSAX Federated Floating RatePairCorr
  0.99FSBCX Federated Global AllPairCorr
  0.99FSBKX Federated Global AllPairCorr
  0.99FSBLX Federated Global AllPairCorr
  0.98QLSGX Federated Mdt SmallPairCorr
  0.99QLSCX Federated Mdt SmallPairCorr
  0.67FSGVX Federated U SPairCorr
  0.95FSHIX Federated Short-intermediaPairCorr
  0.87INISX Federated IntermediatePairCorr
  0.96FSHSX Federated Short IntePairCorr
  0.88FSILX Federated Short TermPairCorr
  0.87FSTIX Federated Short TermPairCorr
  0.98FSTKX Federated Mdt LargePairCorr
  0.99FSTLX Federated Mdt LargePairCorr
  0.98FSTRX Federated Mdt LargePairCorr
  0.88FSTYX Federated Short TermPairCorr
  0.98FSTBX Federated Global AllPairCorr
  0.97PIEFX Pnc Emerging MarketsPairCorr
  0.95PIGDX Pnc International GrowthPairCorr
  0.92SVALX Federated Strategic ValuePairCorr
  0.88FTIAX Federated Short TermPairCorr
  0.92SVAAX Federated Strategic ValuePairCorr
  0.9SVAIX Federated Strategic ValuePairCorr
  0.88SVACX Federated Strategic ValuePairCorr
  0.96PIUCX Pnc International EquityPairCorr
  0.96PIUIX Pnc International EquityPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Max 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 Max'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EMDIX  0.20  0.12 (0.08)(1.86) 0.00 
(0.31)
 0.51 
(0.25)
 1.43 
QKACX  0.65  0.16  0.17  0.30  0.43 
(0.82)
 1.97 
(1.28)
 4.99 
QKBGX  0.41  0.19  0.07 (1.73) 0.20 
(0.47)
 1.29 
(0.88)
 2.90 
SBFIX  0.36  0.09  0.04  0.32  0.00 
(0.43)
 1.11 
(0.71)
 2.23 
FRIEX  0.68  0.28  0.20 (5.93) 0.16 
(0.80)
 2.36 
(1.08)
 4.12 
STFSX  0.18  0.05 (0.29)(1.28) 0.00 
(0.24)
 0.49 
(0.36)
 1.25 
STIAX  0.20  0.05 (0.32)(1.45) 0.00 
(0.24)
 0.37 
(0.36)
 1.24 
STILX  0.19  0.06 (0.30)(1.40) 0.00 
(0.24)
 0.38 
(0.25)
 1.51 
STISX  0.17  0.06 (0.28)(1.78) 0.00 
(0.23)
 0.38 
(0.25)
 1.39 
FRSAX  0.07  0.03  0.00  1.65  0.00 
 0.00 
 0.24 
 0.00 
 0.70 

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