Federated Hermes Correlations

FHEQX Fund

USD 13.65 0.14 1.04%

The current 90-days correlation between Federated Hermes Sdg and Sarofim Equity is 0.19 (i.e., Average 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 Sdg and DJI is 0.15 (i.e., Average 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 producer price index.

Moving together with Federated Mutual Fund

0.8	QKACX	Federated Mdt All	Pair Corr
0.8	QKBGX	Federated Mdt Balanced	Pair Corr
0.9	STFSX	Federated Strategic	Pair Corr
0.89	STIAX	Federated Strategic	Pair Corr
0.74	FSBCX	Federated Global All	Pair Corr
0.8	FSBKX	Federated Global All	Pair Corr
0.75	FSBLX	Federated Global All	Pair Corr
0.69	FSGVX	Federated U S	Pair Corr
0.65	FSGIX	Federated Gov Sec	Pair Corr
0.74	FSHSX	Federated Short-intermedia	Pair Corr
0.74	FSTKX	Federated Mdt Large	Pair Corr
0.8	FSTLX	Federated Mdt Large	Pair Corr
0.74	FSTRX	Federated Mdt Large	Pair Corr
0.79	FSTBX	Federated Global All	Pair Corr
0.61	PIEFX	Pnc Emerging Markets	Pair Corr
0.91	PIGDX	Pnc International Growth	Pair Corr
0.77	SVALX	Federated Strategic Value	Pair Corr
0.8	FTIIX	Federated Global Total	Pair Corr
0.82	FTGLX	Federated Total Return	Pair Corr
0.67	SVAAX	Federated Strategic Value	Pair Corr
0.77	SVAIX	Federated Strategic Value	Pair Corr
0.71	SVACX	Federated Strategic Value	Pair Corr
0.65	PIUCX	Pnc International Equity	Pair Corr
0.61	PIUIX	Pnc International Equity	Pair Corr

Related Correlations Analysis

	SRFMX	DHGAX	TSDUX	CGEOX	VEIPX	QDIBX	DFVEX	SMNIX
SRFMX		0.31	-0.16	0.94	0.57	0.86	0.46	0.51	SRFMX
DHGAX	0.31		0.02	0.49	0.33	0.35	0.39	-0.04	DHGAX
TSDUX	-0.16	0.02		-0.05	0.11	-0.52	0.46	-0.75	TSDUX
CGEOX	0.94	0.49	-0.05		0.64	0.79	0.62	0.28	CGEOX
VEIPX	0.57	0.33	0.11	0.64		0.52	0.87	0.17	VEIPX
QDIBX	0.86	0.35	-0.52	0.79	0.52		0.26	0.72	QDIBX
DFVEX	0.46	0.39	0.46	0.62	0.87	0.26		-0.3	DFVEX
SMNIX	0.51	-0.04	-0.75	0.28	0.17	0.72	-0.3		SMNIX
	SRFMX	DHGAX	TSDUX	CGEOX	VEIPX	QDIBX	DFVEX	SMNIX

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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

CGEOX	+ 0.94	SRFMX
DFVEX	+ 0.87	VEIPX
QDIBX	+ 0.86	SRFMX
QDIBX	+ 0.79	CGEOX
SMNIX	+ 0.72	QDIBX
VEIPX	+ 0.64	CGEOX

High negative correlations

SMNIX	- 0.75	TSDUX
QDIBX	- 0.52	TSDUX
SMNIX	- 0.3	DFVEX
TSDUX	- 0.16	SRFMX
CGEOX	- 0.05	TSDUX
SMNIX	- 0.04	DHGAX

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
SRFMX	0.78	(0.24)	0.00	1.17	0.00	0.00	0.85	(1.70)	16.29
DHGAX	0.19	(0.07)	0.00	(2.08)	0.00	0.00	0.30	(0.39)	3.08
TSDUX	0.04	0.00	0.00	(2.77)	0.00	0.00	0.10	0.00	0.61
CGEOX	0.75	(0.10)	0.00	(4.57)	0.00	0.00	1.30	(1.59)	9.11
VEIPX	0.50	(0.01)	(0.03)	(0.07)	0.68	(0.55)	1.04	(0.81)	5.85
QDIBX	0.29	(0.10)	0.00	(3.21)	0.00	0.00	0.47	(0.66)	3.94
DFVEX	0.60	0.03	0.02	0.13	0.75	(0.70)	1.06	(0.97)	7.30
SMNIX	0.40	(0.14)	0.00	1.15	0.00	0.00	0.71	(0.95)	4.51

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