APAM vs FHI: Correlation
Measured on weekly returns over the past three years, Artisan Partners Asset Management Inc. (APAM) and Federated Hermes, Inc. (FHI) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APAM and FHI?
Over the past 3 years, APAM and FHI moved with a correlation of 0.51, which is moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.51). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 261.0 %².
Within APAM's tracked universe of 17 assets, FHI comes in at #12 by 3-year correlation. The last year tells two different stories: FHI led by 21.9 percentage points, +1.2% for APAM against +23.1% for FHI.
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.
APAM vs FHI: side by side
| APAM (Artisan Partners Asset Management Inc.) | FHI (Federated Hermes, Inc.) | |
|---|---|---|
| 1-year return | +1.2% | +23.1% |
| 5-year return | +28.1% | +131.6% |
| Volatility (ann.) | 27.0% | 19.0% |
| Beta vs S&P 500 | 1.14 | 0.54 |
| Max drawdown (3Y) | -28.9% | -16.6% |
| Market cap | $3.1B | $4.8B |
| P/E (trailing) | 10.4 | 12.1 |
| Dividend yield | 7.95% | 2.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APAM | FHI |
|---|---|---|
| 2022 | -31.3% | -0.2% |
| 2023 | +60.3% | -3.8% |
| 2024 | +4.8% | +29.6% |
| 2025 | +2.7% | +30.5% |
| 2026 | +15.4% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APAM and FHI good diversifiers for each other?
To a limited degree. At 0.51 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 APAM and FHI?
The APAM/FHI correlation stands at 0.51 on a 3-year window (1 year: 0.22, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is FHI a good diversifier for APAM?
To a limited degree. At 0.51 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 0.51 mean?
On the −1 to +1 scale, 0.51 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
$ curl https://www.pairbook.io/api/v1/pairs/apam-vs-fhi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apam-vs-fhi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APAM correlations · FHI correlations
