Federated Hermes Correlations

Mutual Funds . USA . 
Fund . Federated Hermes Conservative
FHMIX Fund  USD 10.00  0.01  0.1%   
The current 90-days correlation between Federated Hermes Con and Federated Emerging Market is 0.01 (i.e., Significant 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 Conservative 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 Conservative 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 Conservative. 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 gross domestic product.

Moving together with Federated Mutual Fund

  0.94EMDIX Federated Emerging MarketPairCorr
  0.94QKACX Federated Mdt AllPairCorr
  0.95QKBGX Federated Mdt BalancedPairCorr
  0.95SBFIX Federated Global AllPairCorr
  0.93FRIEX Federated Hermes EmergingPairCorr
  0.91STFSX Federated StrategicPairCorr
  0.9STIAX Federated StrategicPairCorr
  0.93STILX Federated StrategicPairCorr
  0.93STISX Federated StrategicPairCorr
  0.98FRSAX Federated Floating RatePairCorr
  0.95FSBCX Federated Global AllPairCorr
  0.95FSBKX Federated Global AllPairCorr
  0.95FSBLX Federated Global AllPairCorr
  0.95QLSGX Federated Mdt SmallPairCorr
  0.94QLSCX Federated Mdt SmallPairCorr
  0.75FSGVX Federated U SPairCorr
  0.97FSHIX Federated Short-intermediaPairCorr
  0.69FSGIX Federated Gov SecPairCorr
  0.88INISX Federated IntermediatePairCorr
  0.98FSHSX Federated Short IntePairCorr
  0.94FSILX Federated Short TermPairCorr
  0.91FSTIX Federated Short TermPairCorr
  0.95FSTKX Federated Mdt LargePairCorr
  0.95FSTLX Federated Mdt LargePairCorr
  0.95FSTRX Federated Mdt LargePairCorr
  0.92FSTYX Federated Short TermPairCorr
  0.95FSTBX Federated Global AllPairCorr
  0.93PIEFX Pnc Emerging MarketsPairCorr
  0.91PIGDX Pnc International GrowthPairCorr
  0.9SVALX Federated Strategic ValuePairCorr
  0.91FTIAX Federated Short TermPairCorr
  0.9SVAAX Federated Strategic ValuePairCorr
  0.91SVAIX Federated Strategic ValuePairCorr
  0.9SVACX Federated Strategic ValuePairCorr
  0.92PIUCX Pnc International EquityPairCorr
  0.93PIUIX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EMDIX  0.20  0.12 (0.08)(1.86) 0.00 
(0.31)
 0.51 
(0.25)
 1.43 
QKACX  0.65  0.16  0.17  0.30  0.43 
(0.82)
 1.97 
(1.28)
 4.99 
QKBGX  0.41  0.19  0.07 (1.73) 0.20 
(0.47)
 1.29 
(0.88)
 2.90 
SBFIX  0.36  0.09  0.04  0.32  0.00 
(0.43)
 1.11 
(0.71)
 2.23 
FRIEX  0.68  0.28  0.20 (5.93) 0.16 
(0.80)
 2.36 
(1.08)
 4.12 
STFSX  0.18  0.05 (0.29)(1.28) 0.00 
(0.24)
 0.49 
(0.36)
 1.25 
STIAX  0.20  0.05 (0.32)(1.45) 0.00 
(0.24)
 0.37 
(0.36)
 1.24 
STILX  0.19  0.06 (0.30)(1.40) 0.00 
(0.24)
 0.38 
(0.25)
 1.51 
STISX  0.17  0.06 (0.28)(1.78) 0.00 
(0.23)
 0.38 
(0.25)
 1.39 
FRSAX  0.07  0.03  0.00  1.65  0.00 
 0.00 
 0.24 
 0.00 
 0.70 

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