Federated Hermes Correlations

FULLX Fund

USD 9.27 0.01 0.11%

The current 90-days correlation between Federated Hermes Ult and Arrow Managed Futures is -0.32 (i.e., Very 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

Very good diversification

The correlation between Federated Hermes Ultrashort and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes Ultrashort 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 Ultrashort. 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 bureau of economic analysis.

Moving together with Federated Mutual Fund

0.74	QKACX	Federated Mdt All	Pair Corr
0.72	QKBGX	Federated Mdt Balanced	Pair Corr
0.66	QLSCX	Federated Mdt Small	Pair Corr
0.73	FSTKX	Federated Mdt Large	Pair Corr
0.73	FSTLX	Federated Mdt Large	Pair Corr
0.73	FSTRX	Federated Mdt Large	Pair Corr
0.7	SVAAX	Federated Strategic Value	Pair Corr
0.69	SVAIX	Federated Strategic Value	Pair Corr
0.98	FULBX	Federated Ultrashort Bond	Pair Corr
0.99	FULIX	Federated Ultrashort Bond	Pair Corr
0.97	FEUSX	Federated Government	Pair Corr
0.75	FGSKX	Federated Mdt Mid	Pair Corr

Moving against Federated Mutual Fund

0.57	FUSCX	Federated Fund For	Pair Corr
0.5	FTRGX	Federated Total Return	Pair Corr
0.48	FTRFX	Federated Total Return	Pair Corr
0.46	FTRBX	Federated Total Return	Pair Corr
0.45	FDBCX	Federated Bond	Pair Corr
0.43	FDBLX	Federated Bond	Pair Corr
0.43	FDBAX	Federated Bond	Pair Corr
0.36	FCSPX	Federated Porate Bond	Pair Corr
0.71	FGFAX	Federated International	Pair Corr
0.71	FGFRX	Federated International	Pair Corr
0.7	FGFLX	Federated International	Pair Corr
0.7	FGRSX	Federated International	Pair Corr
0.53	FICMX	Federated Government	Pair Corr
0.39	ISCAX	Federated International	Pair Corr

Related Correlations Analysis

	MFTFX	ANBIX	QCILIX	NIFAX	ABNTX
MFTFX		0.63	0.7	0.72	0.63	MFTFX
ANBIX	0.63		0.98	0.92	1.0	ANBIX
QCILIX	0.7	0.98		0.98	0.98	QCILIX
NIFAX	0.72	0.92	0.98		0.92	NIFAX
ABNTX	0.63	1.0	0.98	0.92		ABNTX
	MFTFX	ANBIX	QCILIX	NIFAX	ABNTX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MFTFX	0.98	(0.15)	0.00	(0.09)	0.00	0.00	1.70	(1.95)	5.42
ANBIX	0.14	(0.01)	(0.50)	(0.42)	0.19	(0.17)	0.29	(0.29)	0.87
QCILIX	0.15	(0.01)	0.00	(1.52)	0.00	0.00	0.27	(0.32)	0.87
NIFAX	0.21	(0.02)	0.00	21.47	0.00	0.00	0.34	(0.45)	1.11
ABNTX	0.14	(0.01)	(0.49)	(0.75)	0.19	(0.17)	0.29	(0.30)	0.88

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