Federated Hermes Correlations

FHESX Fund

USD 13.93 0.11 0.78%

The current 90-days correlation between Federated Hermes Sdg and T Rowe Price is 0.24 (i.e., Modest diversification). The correlation of Federated Hermes 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 Hermes Correlation With Market

Very weak diversification

The correlation between Federated Hermes Sdg and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes Sdg 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 Hermes Sdg. 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

0.88	QKACX	Federated Mdt All	Pair Corr
0.8	QKBGX	Federated Mdt Balanced	Pair Corr
0.79	SBFIX	Federated Global All	Pair Corr
0.66	FRIEX	Federated Hermes Emerging	Pair Corr
0.68	STFSX	Federated Strategic	Pair Corr
0.65	STIAX	Federated Strategic	Pair Corr
0.83	FSBCX	Federated Global All	Pair Corr
0.79	FSBKX	Federated Global All	Pair Corr
0.79	FSBLX	Federated Global All	Pair Corr
0.78	QLSGX	Federated Mdt Small	Pair Corr
0.88	QLSCX	Federated Mdt Small	Pair Corr
0.73	INISX	Federated Intermediate	Pair Corr
0.64	FSHSX	Federated Short-intermedia	Pair Corr
0.75	FSTKX	Federated Mdt Large	Pair Corr
0.75	FSTLX	Federated Mdt Large	Pair Corr
0.75	FSTRX	Federated Mdt Large	Pair Corr
0.8	FSTBX	Federated Global All	Pair Corr
0.65	PIEFX	Pnc Emerging Markets	Pair Corr
0.86	PIGDX	Pnc International Growth	Pair Corr
0.8	SVALX	Federated Strategic Value	Pair Corr
0.86	FTGSX	Federated Total Return	Pair Corr
0.71	SVAIX	Federated Strategic Value	Pair Corr
0.72	SVACX	Federated Strategic Value	Pair Corr
0.8	PIUCX	Pnc International Equity	Pair Corr
0.81	PIUIX	Pnc International Equity	Pair Corr
0.82	RRFAX	Federated Real Return	Pair Corr
0.83	RRFCX	Federated Real Return	Pair Corr
0.84	RRFIX	Federated Real Return	Pair Corr

Moving against Federated Mutual Fund

0.32	FRSAX	Federated Floating Rate	Pair Corr
0.35	FULAX	Federated Ultrashort Bond	Pair Corr

Related Correlations Analysis

	PACEX	ARTFX	DHGCX	MDMTX	MFIRX	RESAX	MBSAX	BXHCX
PACEX		0.46	0.66	0.35	0.88	0.74	0.7	0.89	PACEX
ARTFX	0.46		0.24	0.49	0.38	0.3	0.28	0.41	ARTFX
DHGCX	0.66	0.24		0.69	0.67	0.88	0.9	0.7	DHGCX
MDMTX	0.35	0.49	0.69		0.21	0.58	0.55	0.37	MDMTX
MFIRX	0.88	0.38	0.67	0.21		0.68	0.69	0.82	MFIRX
RESAX	0.74	0.3	0.88	0.58	0.68		0.92	0.85	RESAX
MBSAX	0.7	0.28	0.9	0.55	0.69	0.92		0.81	MBSAX
BXHCX	0.89	0.41	0.7	0.37	0.82	0.85	0.81		BXHCX
	PACEX	ARTFX	DHGCX	MDMTX	MFIRX	RESAX	MBSAX	BXHCX

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Hermes 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 Hermes' 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
PACEX	0.14	0.01	(0.34)	0.73	0.05	(0.22)	0.44	(0.22)	1.10
ARTFX	0.11	0.00	(0.21)	0.00	0.00	(0.18)	0.44	(0.22)	1.10
DHGCX	0.15	0.01	(0.30)	0.19	0.09	(0.21)	0.36	(0.26)	0.94
MDMTX	0.19	0.00	(0.15)	0.45	0.25	(0.26)	0.48	(0.56)	1.72
MFIRX	0.11	0.00	(0.18)	0.00	0.00	(0.24)	0.38	(0.19)	0.77
RESAX	0.21	0.02	(0.14)	0.28	0.19	(0.29)	0.49	(0.37)	2.22
MBSAX	0.20	0.01	(0.15)	0.16	0.20	(0.22)	0.52	(0.30)	1.55
BXHCX	0.12	0.01	(0.22)	0.18	0.00	(0.19)	0.25	(0.25)	1.11

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