AMG vs FHI: Correlation
Measured on weekly returns over the past three years, Affiliated Managers Group, Inc. (AMG) and Federated Hermes, Inc. (FHI) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMG and FHI?
Across a 3-year window, the weekly returns of AMG and FHI correlate at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.35 versus 0.53 over 3 years. Stretching to 5 years gives 0.54, with an annualized covariance of 267.1 %².
Among the 13 assets we track against AMG, FHI ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMG ahead by 39.6 points (+62.7% versus +23.1%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AMG vs FHI: side by side
| AMG (Affiliated Managers Group, Inc.) | FHI (Federated Hermes, Inc.) | |
|---|---|---|
| 1-year return | +62.7% | +23.1% |
| 5-year return | +116.5% | +131.6% |
| Volatility (ann.) | 26.6% | 19.0% |
| Beta vs S&P 500 | 0.82 | 0.54 |
| Max drawdown (3Y) | -27.0% | -16.6% |
| Market cap | $9.6B | $4.8B |
| P/E (trailing) | 13.0 | 12.1 |
| Dividend yield | 0.01% | 2.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMG | FHI |
|---|---|---|
| 2022 | -3.7% | -0.2% |
| 2023 | -4.4% | -3.8% |
| 2024 | +22.2% | +29.6% |
| 2025 | +55.9% | +30.5% |
| 2026 | +28.5% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMG and FHI good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AMG and FHI?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.35 over the last year and 0.54 over 5 years.
Is FHI a good diversifier for AMG?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: AMG correlations · FHI correlations
