Federated Hermes Correlations

FIPRX Fund

USD 9.82 0.02 0.20%

The current 90-days correlation between Federated Hermes Inf and Dreyfus Large Cap is 0.04 (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 Inflation and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes Inflation 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 Inflation. 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

0.99	RRFAX	Federated Real Return	Pair Corr
0.97	RRFCX	Federated Real Return	Pair Corr
0.99	RRFIX	Federated Real Return	Pair Corr

Moving against Federated Mutual Fund

0.49	FRSAX	Federated Floating Rate	Pair Corr
0.48	QKBGX	Federated Mdt Balanced	Pair Corr
0.47	QKACX	Federated Mdt All	Pair Corr
0.45	EMDIX	Federated Emerging Market	Pair Corr
0.4	QLSCX	Federated Mdt Small	Pair Corr
0.38	FSHIX	Federated Short Inte	Pair Corr
0.49	FSTLX	Federated Mdt Large	Pair Corr
0.49	FSTRX	Federated Mdt Large	Pair Corr
0.43	SVAIX	Federated Strategic Value	Pair Corr
0.42	SVAAX	Federated Strategic Value	Pair Corr
0.41	SVALX	Federated Strategic Value	Pair Corr
0.41	SVACX	Federated Strategic Value	Pair Corr
0.4	FSTKX	Federated Mdt Large	Pair Corr
0.35	FSTYX	Federated Short Term	Pair Corr
0.32	FSHSX	Federated Short Inte	Pair Corr
0.32	FSILX	Federated Short Term	Pair Corr
0.42	FULAX	Federated Ultrashort Bond	Pair Corr
0.4	FULBX	Federated Ultrashort Bond	Pair Corr
0.4	FULIX	Federated Ultrashort Bond	Pair Corr
0.4	FULLX	Federated Hermes Ult	Pair Corr

Related Correlations Analysis

	DLQIX	CBLSX	LMISX	JDVNX	SABIX	LMUSX	MSTSX
DLQIX		0.98	0.88	0.9	0.82	0.88	0.86	DLQIX
CBLSX	0.98		0.89	0.91	0.87	0.89	0.84	CBLSX
LMISX	0.88	0.89		0.91	0.89	1.0	0.8	LMISX
JDVNX	0.9	0.91	0.91		0.86	0.91	0.93	JDVNX
SABIX	0.82	0.87	0.89	0.86		0.89	0.72	SABIX
LMUSX	0.88	0.89	1.0	0.91	0.89		0.8	LMUSX
MSTSX	0.86	0.84	0.8	0.93	0.72	0.8		MSTSX
	DLQIX	CBLSX	LMISX	JDVNX	SABIX	LMUSX	MSTSX

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
DLQIX	0.88	0.32	0.31	0.62	0.37	(1.06)	1.47	(1.30)	19.46
CBLSX	0.77	0.18	0.21	0.34	0.42	(1.01)	1.41	(1.00)	14.02
LMISX	0.63	0.05	0.04	0.11	0.80	(0.63)	1.57	(1.32)	4.04
JDVNX	0.69	0.08	0.10	0.13	0.64	(0.81)	1.47	(1.28)	7.51
SABIX	0.60	0.09	0.12	0.14	0.48	(0.64)	1.12	(1.00)	9.72
LMUSX	0.62	0.05	0.04	0.11	0.79	(0.60)	1.56	(1.35)	4.05
MSTSX	0.70	0.09	0.09	0.14	0.69	(0.84)	0.90	(1.12)	13.19

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