Although Murray's victory in Montreal saw him lift his fourth senior Masters title, he is yet to win a Grand Slam - something Federer, who beat Murray in last year's US Open final, has achieved 15 times.
Murray believes, however, that he has been consistent enough this year to deserve his position in the rankings.
"It's not that far. It's a matter of a couple of the matches," he said. "I know it's a long way from losing the semi finals [at Wimbledon] to winning but that would have made a huge difference.
"I would be very close to Roger in the rankings if I had won those two matches from the semis onwards.
"That's really the only difference - getting a Slam - between being number one and two. The other tournaments has been pretty similar."
He added: "Federer, I think, won his first Slam when he played his 17th Slam. I think I've only played 15.
"At 22 I'm still pretty young. I'd love to win a Slam, that's obviously one of my biggest goals, but to say that I'd be disappointed to not win one with the level of competition that's around now is a little bit disrespectful to the players.
"You've got some of the best ever playing right now."
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