Federated Hermes Correlations

FULLX Fund

USD 9.28 0.00 0.00%

The current 90-days correlation between Federated Hermes Ult and Nuveen Large Cap is -0.05 (i.e., 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

Significant diversification

The correlation between Federated Hermes Ultrashort and DJI is 0.04 (i.e., Significant 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

0.7	PTSPX	Pimco Short Term	Pair Corr
0.61	PTSRX	Short Term Fund	Pair Corr
0.75	PSDNX	Putnam Ultra Short	Pair Corr
0.72	LUSNX	Lord Abbett Ultra	Pair Corr
0.68	VUBFX	Vanguard Ultra Short	Pair Corr
0.72	PSDRX	Putnam Short Duration	Pair Corr
0.73	PSDYX	Putnam Short Duration	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr

Moving against Federated Mutual Fund

0.75	MCD	McDonalds	Pair Corr
0.48	PG	Procter Gamble	Pair Corr
0.38	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FLRAX	DNFGX	GMLVX	AMONX	LMISX	LGPSX	DLCIX
FLRAX		0.99	0.97	0.99	0.99	0.99	0.99	FLRAX
DNFGX	0.99		0.98	1.0	1.0	1.0	0.99	DNFGX
GMLVX	0.97	0.98		0.98	0.98	0.98	0.98	GMLVX
AMONX	0.99	1.0	0.98		1.0	1.0	0.99	AMONX
LMISX	0.99	1.0	0.98	1.0		1.0	1.0	LMISX
LGPSX	0.99	1.0	0.98	1.0	1.0		1.0	LGPSX
DLCIX	0.99	0.99	0.98	0.99	1.0	1.0		DLCIX
	FLRAX	DNFGX	GMLVX	AMONX	LMISX	LGPSX	DLCIX

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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
FLRAX	0.87	0.11	0.10	0.35	0.52	(1.08)	2.23	(1.76)	11.56
DNFGX	1.20	0.13	0.14	0.34	0.92	(1.40)	2.72	(1.72)	15.28
GMLVX	0.66	0.19	0.09	0.58	0.18	(0.83)	2.38	(1.27)	6.24
AMONX	0.98	0.11	0.11	0.33	0.76	(1.10)	2.42	(1.69)	14.39
LMISX	0.89	0.07	0.07	0.30	0.74	(1.07)	2.24	(1.71)	12.85
LGPSX	1.08	0.12	0.13	0.33	0.89	(1.19)	2.64	(1.44)	15.38
DLCIX	0.90	0.08	0.08	0.31	0.79	(1.03)	2.45	(1.65)	13.39

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