Federated Hermes Correlations

Mutual Funds . USA . 
Fund . Federated Hermes Sdg
FHEQX Fund  USD 14.63  0.10  0.69%   
The current 90-days correlation between Federated Hermes Sdg and Pnc Emerging Markets is 0.6 (i.e., Poor 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

Poor diversification

The correlation between Federated Hermes Sdg and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Hermes Sdg 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 Sdg. 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 producer price index.

Moving together with Federated Mutual Fund

  0.78EMDIX Federated Emerging MarketPairCorr
  0.68SBFIX Federated Global AllPairCorr
  0.74STFSX Federated StrategicPairCorr
  0.74STIAX Federated StrategicPairCorr
  0.73STILX Federated StrategicPairCorr
  0.74STISX Federated StrategicPairCorr
  0.72FSBCX Federated Global AllPairCorr
  0.71FSBKX Federated Global AllPairCorr
  0.68FSBLX Federated Global AllPairCorr
  0.69FSTBX Federated Global AllPairCorr
  0.74PIGDX Pnc International GrowthPairCorr
  0.73PIUCX Pnc International EquityPairCorr
  0.74PIUIX Pnc International EquityPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
SEKRX
+ 0.97
PIEFX
TEOJX
+ 0.96
SEKRX
TEOJX
+ 0.9
PIEFX
TEOJX
+ 0.83
EMCIX
SEKRX
+ 0.75
EMCIX
EMCIX
+ 0.73
PIEFX
  
High negative correlations   
CMERX
- 0.02
EMCIX

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.

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