Federated Hermes Correlations

FLCV Etf

29.09 0.04 0.14%

The current 90-days correlation between Federated Hermes ETF and iShares Core SP is 0.62 (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

Almost no diversification

The correlation between Federated Hermes ETF 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 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 main economic indicators.

Moving together with Federated Etf

0.97	VTV	Vanguard Value Index	Pair Corr
0.98	VYM	Vanguard High Dividend	Pair Corr
0.99	IWD	iShares Russell 1000	Pair Corr
0.95	DGRO	iShares Core Dividend	Pair Corr
0.97	IVE	iShares SP 500	Pair Corr
0.96	DVY	iShares Select Dividend	Pair Corr
0.97	SPYV	SPDR Portfolio SP	Pair Corr
0.88	FVD	First Trust Value	Pair Corr
0.98	IUSV	iShares Core SP	Pair Corr
0.74	NOBL	ProShares SP 500	Pair Corr
0.81	NVDL	GraniteShares 15x Long	Pair Corr
0.81	NVDX	T Rex 2X	Pair Corr
0.81	NVDU	Direxion Daily NVDA	Pair Corr
0.94	CRPT	First Trust SkyBridge	Pair Corr
0.88	BITX	Volatility Shares Trust	Pair Corr
0.86	CONL	GraniteShares ETF Trust	Pair Corr
0.93	DAPP	VanEck Digital Trans	Pair Corr
0.9	DPST	Direxion Daily Regional	Pair Corr
0.92	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.93	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.98	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.9	WMT	Walmart Aggressive Push	Pair Corr
0.82	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.66	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.96	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.87	DIS	Walt Disney Sell-off Trend	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.82	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Moving against Federated Etf

0.83	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.74	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.65	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	IUSG	IXUS	USIG	ITOT	IUSB
IUSG		-0.21	-0.6	0.99	-0.7	IUSG
IXUS	-0.21		0.56	-0.27	0.51	IXUS
USIG	-0.6	0.56		-0.59	0.99	USIG
ITOT	0.99	-0.27	-0.59		-0.69	ITOT
IUSB	-0.7	0.51	0.99	-0.69		IUSB
	IUSG	IXUS	USIG	ITOT	IUSB

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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

ITOT	+ 0.99	IUSG
IUSB	+ 0.99	USIG
USIG	+ 0.56	IXUS
IUSB	+ 0.51	IXUS

High negative correlations

IUSB	- 0.7	IUSG
IUSB	- 0.69	ITOT
USIG	- 0.6	IUSG
ITOT	- 0.59	USIG
ITOT	- 0.27	IXUS
IXUS	- 0.21	IUSG

Federated Hermes Constituents 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
IUSG	0.71	0.01	0.00	0.14	1.01	(0.69)	1.49	(2.02)	5.33
IXUS	0.64	(0.09)	0.00	(0.08)	0.00	0.00	1.35	(1.67)	4.12
USIG	0.25	0.00	(0.39)	0.25	0.32	(0.27)	0.49	(0.50)	1.59
ITOT	0.57	0.01	0.00	0.14	0.65	(0.61)	1.09	(1.30)	4.05
IUSB	0.22	(0.01)	0.00	0.34	0.00	0.00	0.40	(0.59)	1.34

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