Federated Hermes Correlations

Mutual Funds . USA . 
Fund . Federated Hermes
FCBRX Fund  USD 6.22  0.01  0.16%   
The current 90-days correlation between Federated Hermes and Ab Municipal Bond is -0.17 (i.e., Good 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

Average diversification

The correlation between Federated Hermes and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes 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. 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 metropolitan statistical area.

Moving together with Federated Mutual Fund

  0.83EMDIX Federated Emerging MarketPairCorr
  0.72FRIEX Federated Hermes EmergingPairCorr
  0.86STFSX Federated StrategicPairCorr
  0.86STIAX Federated StrategicPairCorr
  0.91STILX Federated StrategicPairCorr
  0.86STISX Federated StrategicPairCorr
  0.86FSGVX Federated U SPairCorr
  0.83FSHIX Federated Short IntePairCorr
  0.99INISX Federated IntermediatePairCorr
  0.74FSHSX Federated Short-intermediaPairCorr
  0.87FSILX Federated Short TermPairCorr
  0.95FSTIX Federated Short TermPairCorr
  0.65FSTYX Federated Short TermPairCorr
  0.73PIEFX Pnc Emerging MarketsPairCorr
  0.67PIGDX Pnc International GrowthPairCorr
  0.86SVALX Federated Strategic ValuePairCorr
  0.86FTIAX Federated Short TermPairCorr
  0.8FTGLX Federated Total ReturnPairCorr
  0.99FTGSX Federated Total ReturnPairCorr
  0.86SVAAX Federated Strategic ValuePairCorr
  0.88SVAIX Federated Strategic ValuePairCorr
  0.85SVACX Federated Strategic ValuePairCorr
  0.75PIUCX Pnc International EquityPairCorr
  0.79PIUIX Pnc International EquityPairCorr
  0.89RRFAX Federated Real ReturnPairCorr
  0.99FTRBX Federated Total ReturnPairCorr
  0.9FTRFX Federated Total ReturnPairCorr
  0.9FTRGX Federated Total ReturnPairCorr
  0.9FTRKX Federated Total ReturnPairCorr

Moving against Federated Mutual Fund

  0.74QLSCX Federated Mdt SmallPairCorr
  0.73QLSGX Federated Mdt SmallPairCorr
  0.33QKACX Federated Mdt AllPairCorr
  0.64VSFCX Federated Clover SmallPairCorr
  0.55VSFAX Federated Clover SmallPairCorr

Related Correlations Analysis

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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.

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