FHI vs IVZ: Correlation
How closely do Federated Hermes, Inc. (FHI) and Invesco (IVZ) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHI and IVZ?
On 3 years of weekly data the FHI/IVZ correlation comes out at 0.57, moderate. The past 12 months show a weaker link (0.39) than the 3-year average (0.57). The 5-year figure is 0.55, and annualized covariance runs at 355.5 %².
IVZ is one of the assets that tracks FHI most closely: it ranks #1 out of the 11 assets we track against FHI. The last year tells two different stories: IVZ led by 32.8 percentage points, +23.1% for FHI against +55.9% for IVZ. Risk is not evenly split, since IVZ carries 1.7 times the volatility of the other side.
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.
FHI vs IVZ: side by side
| FHI (Federated Hermes, Inc.) | IVZ (Invesco) | |
|---|---|---|
| 1-year return | +23.1% | +55.9% |
| 5-year return | +131.6% | +63.7% |
| Volatility (ann.) | 19.0% | 32.6% |
| Beta vs S&P 500 | 0.54 | 1.29 |
| Max drawdown (3Y) | -16.6% | -36.5% |
| Market cap | $4.8B | $14.7B |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.15% | 2.58% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FHI | IVZ |
|---|---|---|
| 2022 | -0.2% | -18.7% |
| 2023 | -3.8% | +4.2% |
| 2024 | +29.6% | +3.0% |
| 2025 | +30.5% | +56.9% |
| 2026 | +27.0% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHI and IVZ good diversifiers for each other?
Only partially. A correlation of 0.57 means FHI and IVZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FHI and IVZ?
As of 2026-08-27, the correlation of weekly returns between FHI and IVZ is 0.57 over 3 years, 0.39 over 1 year and 0.55 over 5 years.
Is IVZ a good diversifier for FHI?
Only partially. A correlation of 0.57 means FHI and IVZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fhi-vs-ivz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fhi-vs-ivz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FHI correlations · IVZ correlations
