Fidelity Capital Correlations

Mutual Funds . USA . 
Fund . Fidelity Capital Income
FAGIX Fund  USD 11.11  0.01  0.09%   
The current 90-days correlation between Fidelity Capital Income and Fidelity Freedom 2070 is 0.01 (i.e., Significant diversification). The correlation of Fidelity Capital 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.

Fidelity Capital Correlation With Market

Almost no diversification

The correlation between Fidelity Capital Income and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Capital Income 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 Fidelity Capital Income. 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.96FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.86FPXTX Fidelity PennsylvaniaPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.97FQITX Fidelity Salem StreetPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.97FRBDX Fidelity Freedom 2070PairCorr
  0.97FRBEX Fidelity Freedom 2070PairCorr
  0.99FRBHX Fidelity Freedom 2070PairCorr
  0.99FRBJX Fidelity Advisor FreedomPairCorr
  0.99FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBLX Fidelity Advisor FreedomPairCorr
  0.99FRBNX Fidelity Advisor FreedomPairCorr
  0.99FRBOX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBUX Fidelity Freedom IndexPairCorr
  0.99FRBVX Fidelity Freedom IndexPairCorr
  0.99FRBWX Fidelity Freedom IndexPairCorr
  0.95FRBYX Fidelity Freedom BlendPairCorr
  0.99FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  0.95FRCFX Fidelity Freedom BlendPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCJX Fidelity Freedom BlendPairCorr
  0.99FRCKX Fidelity Freedom BlendPairCorr
  0.99FRCLX Fidelity Freedom BlendPairCorr
  0.99FRCNX Fidelity Freedom BlendPairCorr
  0.99FRCPX Fidelity Freedom BlendPairCorr
  0.99FRCQX Fidelity SustainablePairCorr
  0.99FRCRX Fidelity SustainablePairCorr
  0.99FRCVX Fidelity SustainablePairCorr
  0.99FRCWX Fidelity SustainablePairCorr
  0.99FRCYX Fidelity SustainablePairCorr
  0.96FRDCX Fidelity SustainablePairCorr
  0.99FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Capital 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 Fidelity Capital's 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.25  0.08  0.03  0.42  0.00 
(0.32)
 0.51 
(0.43)
 2.69 
FPURX  0.45  0.05  0.01  0.17  0.46 
(0.48)
 0.85 
(1.12)
 2.82 
FPUKX  0.44  0.05  0.01  0.18  0.46 
(0.46)
 0.85 
(1.12)
 2.82 
FPXTX  0.07  0.02 (0.48)(1.05) 0.00 
(0.14)
 0.19 
(0.10)
 0.66 
FQIFX  0.29  0.04 (0.05) 0.19  0.17 
(0.36)
 0.65 
(0.58)
 1.77 
FQIPX  0.49  0.05  0.04  0.17  0.48 
(0.53)
 0.99 
(1.04)
 3.10 
FQITX  0.67  0.14  0.04 (1.08) 0.73 
(0.70)
 1.55 
(1.36)
 3.78 
FQLSX  0.52  0.09  0.09  0.23  0.45 
(0.57)
 1.05 
(1.08)
 3.48 
FRBDX  0.53  0.15  0.07 (1.02) 0.54 
(0.59)
 1.02 
(1.08)
 3.36 
FRBEX  0.53  0.15  0.07 (1.02) 0.55 
(0.59)
 1.03 
(1.09)
 3.44 

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