BLK vs FHI: Correlation
BlackRock (BLK) and Federated Hermes, Inc. (FHI) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLK and FHI?
Over the past 3 years, BLK and FHI moved with a correlation of 0.50, which is moderate. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.50). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 235.3 %².
By 3-year correlation, FHI places #27 of the 42 assets tracked against BLK. Their recent paths diverged sharply: over the last 12 months FHI outperformed by 17.8 percentage points (+5.3% for BLK 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.
BLK vs FHI: side by side
| BLK (BlackRock) | FHI (Federated Hermes, Inc.) | |
|---|---|---|
| 1-year return | +5.3% | +23.1% |
| 5-year return | +38.9% | +131.6% |
| Volatility (ann.) | 24.7% | 19.0% |
| Beta vs S&P 500 | 1.19 | 0.54 |
| Max drawdown (3Y) | -23.7% | -16.6% |
| Market cap | $189.7B | $4.8B |
| P/E (trailing) | 28.1 | 12.1 |
| Dividend yield | 1.86% | 2.15% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BLK | FHI |
|---|---|---|
| 2022 | -20.4% | -0.2% |
| 2023 | +17.9% | -3.8% |
| 2024 | +29.3% | +29.6% |
| 2025 | +6.6% | +30.5% |
| 2026 | +10.3% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLK and FHI good diversifiers for each other?
To a limited degree. At 0.50 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 BLK and FHI?
As of 2026-08-27, the correlation of weekly returns between BLK and FHI is 0.50 over 3 years, 0.37 over 1 year and 0.52 over 5 years.
Is FHI a good diversifier for BLK?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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: BLK correlations · FHI correlations
