Federated Hermes Correlations

ICBRX Fund

8.71 0.02 0.23%

The current 90-days correlation between Federated Hermes Int and Tekla Healthcare Investors is 0.05 (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

Modest diversification

The correlation between Federated Hermes Intermediate and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes Intermediate and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Federated Hermes Intermediate. 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 real.

Moving together with Federated Mutual Fund

0.71	EMDIX	Federated Emerging Market	Pair Corr
0.64	SBFIX	Federated Global All	Pair Corr
0.83	STILX	Federated Strategic	Pair Corr
0.62	FSBCX	Federated Global All	Pair Corr
0.63	FSBKX	Federated Global All	Pair Corr
0.64	FSBLX	Federated Global All	Pair Corr
0.9	INISX	Federated Intermediate	Pair Corr
0.86	FSILX	Federated Short Term	Pair Corr
0.63	FSTLX	Federated Mdt Large	Pair Corr
0.81	FTIAX	Federated Short Term	Pair Corr
0.91	FTGLX	Federated Total Return	Pair Corr
0.83	FTRBX	Federated Total Return	Pair Corr
0.82	FTRFX	Federated Total Return	Pair Corr
0.77	FTRGX	Federated Total Return	Pair Corr
0.82	FTRLX	Federated Total Return	Pair Corr
0.85	FCBRX	Federated Hermes	Pair Corr
0.64	FCSPX	Federated Porate Bond	Pair Corr
0.81	FULLX	Federated Hermes Ult	Pair Corr
0.79	FDBIX	Federated Bond	Pair Corr
0.68	FEUGX	Federated Adjustable Rate	Pair Corr

Moving against Federated Mutual Fund

0.33	PIGDX	Pnc International Growth	Pair Corr
0.36	BEARX	Federated Prudent Bear	Pair Corr
0.32	ISCCX	Federated International	Pair Corr

Related Correlations Analysis

	XHQHX	HHCZX	LHCCX	PGHAX	PJHRX	RAGHX
XHQHX		0.65	0.81	0.78	0.85	0.76	XHQHX
HHCZX	0.65		0.22	0.24	0.33	0.21	HHCZX
LHCCX	0.81	0.22		0.96	0.98	0.98	LHCCX
PGHAX	0.78	0.24	0.96		0.98	0.97	PGHAX
PJHRX	0.85	0.33	0.98	0.98		0.97	PJHRX
RAGHX	0.76	0.21	0.98	0.97	0.97		RAGHX
	XHQHX	HHCZX	LHCCX	PGHAX	PJHRX	RAGHX

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
XHQHX	1.12	0.25	0.13	2.73	1.21	(1.28)	2.46	(1.87)	9.43
HHCZX	0.88	0.03	(0.01)	0.13	1.01	(1.04)	1.24	(1.68)	14.54
LHCCX	0.73	0.22	0.17	(31.33)	0.61	(0.83)	1.80	(1.26)	4.51
PGHAX	0.63	0.10	0.09	0.25	0.55	(0.73)	2.16	(1.07)	5.20
PJHRX	0.82	0.21	0.19	0.35	0.62	(0.94)	2.07	(1.42)	5.18
RAGHX	0.75	0.16	0.13	2.43	0.58	(0.93)	2.07	(1.56)	4.55

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