Federated Hermes Correlations

Mutual Funds . USA . 
Fund . Federated Hermes Mdt
QAMNX Fund  USD 20.22  0.04  0.20%   
The current 90-days correlation between Federated Hermes Mdt and Fidelity Advisor Financial is 0.16 (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

Significant diversification

The correlation between Federated Hermes Mdt and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes Mdt and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Federated Hermes Mdt. 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 board of governors.

Moving together with Federated Mutual Fund

  0.73EMDIX Federated Emerging MarketPairCorr
  0.67STFSX Federated StrategicPairCorr
  0.67STIAX Federated StrategicPairCorr
  0.69STILX Federated StrategicPairCorr
  0.69STISX Federated StrategicPairCorr
  0.63FSGVX Federated U SPairCorr
  0.7FSHIX Federated Short-intermediaPairCorr
  0.62FSGIX Federated Gov SecPairCorr
  0.62INISX Federated IntermediatePairCorr
  0.68FSHSX Federated Short-intermediaPairCorr
  0.67FSILX Federated Short TermPairCorr
  0.66FSTIX Federated Short TermPairCorr
  0.67FSTYX Federated Short TermPairCorr
  0.73PIGDX Pnc International GrowthPairCorr
  0.68SVALX Federated Strategic ValuePairCorr
  0.66FTIAX Federated Short TermPairCorr
  0.61FTGLX Federated Total ReturnPairCorr
  0.68SVAAX Federated Strategic ValuePairCorr
  0.68SVAIX Federated Strategic ValuePairCorr
  0.75PIUCX Pnc International EquityPairCorr
  0.75PIUIX Pnc International EquityPairCorr
  0.69RRFAX Federated Real ReturnPairCorr
  0.69RRFCX Federated Real ReturnPairCorr

Related Correlations Analysis

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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   
FAFSX
+ 1.0
FIKBX
VFAIX
+ 0.86
FIKBX
VFAIX
+ 0.85
FAFSX
VFAIX
+ 0.57
GCFSX
GCFSX
+ 0.44
FIKBX
FAFSX
+ 0.42
GCFSX
  
High negative correlations   
VFAIX
- 0.0
FTIXX
FAFSX
- 0.0
FTIXX
FTIXX
- 0.0
GCFSX
VFAIX
- 0.0
MCBXX
FAFSX
- 0.0
MCBXX
FTIXX
- 0.0
MCBXX

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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