Federated Hermes Correlations

FHYS Etf

USD 23.17 0.01 0.04%

The current 90-days correlation between Federated Hermes ETF and iShares iBoxx Investment is 0.64 (i.e., Poor 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

Modest diversification

The correlation between Federated Hermes ETF and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes ETF 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 ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Federated Etf

0.89	HYG	iShares iBoxx High	Pair Corr
0.89	USHY	iShares Broad USD	Pair Corr
0.86	JNK	SPDR Bloomberg High	Pair Corr
0.97	SHYG	iShares 0 5	Pair Corr
0.89	HYLB	Xtrackers USD High	Pair Corr
0.97	SJNK	SPDR Bloomberg Short	Pair Corr
0.66	ANGL	VanEck Fallen Angel	Pair Corr
0.76	FALN	iShares Fallen Angels	Pair Corr
0.75	HYLS	First Trust Tactical	Pair Corr
0.89	FNGU	MicroSectors FANG Index	Pair Corr
0.66	USD	ProShares Ultra Semi	Pair Corr
0.9	FNGO	MicroSectors FANG Index	Pair Corr
0.84	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.78	TECL	Direxion Daily Technology	Pair Corr
0.91	FNGS	MicroSectors FANG ETN	Pair Corr
0.8	ROM	ProShares Ultra Tech	Pair Corr
0.87	QLD	ProShares Ultra QQQ	Pair Corr
0.8	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.91	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.72	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.84	HD	Home Depot	Pair Corr
0.83	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.83	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.9	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr

Moving against Federated Etf

0.77	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.75	KO	Coca Cola Aggressive Push	Pair Corr
0.74	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

Federated Hermes Competition Risk-Adjusted Indicators

There is a big difference between Federated Etf performing well and Federated Hermes ETF 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
META	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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