Federated Hermes Correlations

FHUMX Fund

USD 14.55 0.46 3.26%

The current 90-days correlation between Federated Hermes Smid and Tiaa Cref Inflation Link is -0.06 (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

Almost no diversification

The correlation between Federated Hermes Smid and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes Smid 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 Smid. 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 population.

Moving together with Federated Mutual Fund

0.93	SBFIX	Federated Global All	Pair Corr
0.93	FSTBX	Federated Global All	Pair Corr
0.62	PIEFX	Pnc Emerging Markets	Pair Corr
0.66	PIGDX	Pnc International Growth	Pair Corr
0.95	FGSCX	Federated Mdt Mid	Pair Corr
0.85	FHTIX	Federated High Yield	Pair Corr
0.95	KLCIX	Federated Kaufmann Large	Pair Corr
0.69	FIMYX	Federated Intermediate	Pair Corr
0.98	FISPX	Federated Max Cap	Pair Corr
0.95	FKALX	Federated Kaufmann Small	Pair Corr
0.99	FMCRX	Federated Mid Cap	Pair Corr
0.93	FMSTX	Federated Mdt Large	Pair Corr
0.98	VIMAX	Vanguard Mid Cap	Pair Corr
0.98	VIMSX	Vanguard Mid Cap	Pair Corr
0.98	VMCPX	Vanguard Mid Cap	Pair Corr
0.98	VMCIX	Vanguard Mid Cap	Pair Corr
0.99	VEXAX	Vanguard Extended Market	Pair Corr
0.99	VEMPX	Vanguard Extended Market	Pair Corr
0.99	VIEIX	Vanguard Extended Market	Pair Corr
0.99	VSEMX	Vanguard Extended Market	Pair Corr
0.99	VEXMX	Vanguard Extended Market	Pair Corr
0.99	FSMAX	Fidelity Extended Market	Pair Corr
0.77	RYMEX	Commodities Strategy	Pair Corr
0.77	RYMJX	Commodities Strategy	Pair Corr
0.76	RYMBX	Commodities Strategy	Pair Corr
0.97	SPGSX	State Street Premier	Pair Corr

Moving against Federated Mutual Fund

0.83	FGUAX	Federated Government	Pair Corr
0.7	FHCOX	Federated Hermes Con	Pair Corr
0.55	FIPRX	Federated Hermes Inf	Pair Corr
0.44	FICMX	Federated Government	Pair Corr
0.63	MASNX	Litman Gregory Masters	Pair Corr
0.74	SMNAX	Steward Equity Market	Pair Corr
0.68	AGOVX	Invesco Government	Pair Corr

Related Correlations Analysis

	TIIHX	LFTAX	MXIHX	ABNTX	FIPRX	HIPSX	HIPAX	ATACX
TIIHX		0.6	0.97	0.99	0.94	0.95	0.96	0.42	TIIHX
LFTAX	0.6		0.63	0.61	0.57	0.67	0.66	0.28	LFTAX
MXIHX	0.97	0.63		0.96	0.97	0.99	0.99	0.55	MXIHX
ABNTX	0.99	0.61	0.96		0.93	0.94	0.95	0.38	ABNTX
FIPRX	0.94	0.57	0.97	0.93		0.96	0.96	0.58	FIPRX
HIPSX	0.95	0.67	0.99	0.94	0.96		1.0	0.56	HIPSX
HIPAX	0.96	0.66	0.99	0.95	0.96	1.0		0.56	HIPAX
ATACX	0.42	0.28	0.55	0.38	0.58	0.56	0.56		ATACX
	TIIHX	LFTAX	MXIHX	ABNTX	FIPRX	HIPSX	HIPAX	ATACX

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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
TIIHX	0.21	0.02	0.41	4.30	0.22	(0.24)	0.47	(0.38)	1.49
LFTAX	0.31	0.03	0.33	0.32	0.36	(0.34)	0.61	(0.60)	1.83
MXIHX	0.22	0.02	0.41	0.82	0.22	(0.26)	0.44	(0.44)	1.31
ABNTX	0.21	0.01	0.44	(0.73)	0.19	(0.25)	0.49	(0.40)	1.37
FIPRX	0.28	0.01	0.30	1.70	0.35	(0.30)	0.61	(0.60)	1.91
HIPSX	0.22	0.02	0.40	1.11	0.23	(0.27)	0.50	(0.49)	1.58
HIPAX	0.22	0.02	0.41	0.98	0.23	(0.27)	0.50	(0.50)	1.58
ATACX	0.78	0.06	0.16	0.38	0.99	(0.77)	1.44	(1.62)	4.26

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