Federated Hermes Correlations

Mutual Funds . USA . 
Fund . Federated Hermes Sdg
FHERX Fund  USD 13.69  0.14  1.03%   
The current 90-days correlation between Federated Hermes Sdg and Small Cap Value is 0.69 (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

Average diversification

The correlation between Federated Hermes Sdg and DJI is 0.13 (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 metropolitan statistical area.

Moving together with Federated Mutual Fund

  0.73EMDIX Federated Emerging MarketPairCorr
  0.67QKACX Federated Mdt AllPairCorr
  0.85QKBGX Federated Mdt BalancedPairCorr
  0.67SBFIX Federated Global AllPairCorr
  0.63FRIEX Federated Hermes EmergingPairCorr
  0.72STFSX Federated StrategicPairCorr
  0.66STIAX Federated StrategicPairCorr
  0.86STILX Federated StrategicPairCorr
  0.85STISX Federated StrategicPairCorr
  0.8FSBCX Federated Global AllPairCorr
  0.66FSBKX Federated Global AllPairCorr
  0.65FSBLX Federated Global AllPairCorr
  0.63FSGVX Federated U SPairCorr
  0.78FSHIX Federated Short-intermediaPairCorr
  0.64FSGIX Federated Gov SecPairCorr
  0.68INISX Federated IntermediatePairCorr
  0.67FSHSX Federated Short-intermediaPairCorr
  0.78FSTKX Federated Mdt LargePairCorr
  0.64FSTLX Federated Mdt LargePairCorr
  0.78FSTRX Federated Mdt LargePairCorr
  0.61FSTYX Federated Short TermPairCorr
  0.65FSTBX Federated Global AllPairCorr
  0.68PIGDX Pnc International GrowthPairCorr
  0.61SVALX Federated Strategic ValuePairCorr
  0.74FTIBX Federated Global TotalPairCorr
  0.66FTGLX Federated Total ReturnPairCorr
  0.76FTGSX Federated Total ReturnPairCorr
  0.77SVAAX Federated Strategic ValuePairCorr
  0.61SVAIX Federated Strategic ValuePairCorr
  0.81SVACX Federated Strategic ValuePairCorr
  0.83PIUCX Pnc International EquityPairCorr
  0.78PIUIX Pnc International EquityPairCorr

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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