Fidelity Capital Correlations

Mutual Funds . USA . 
Fund . Fidelity Capital Income
FAGIX Fund  USD 11.06  0.04  0.36%   
The current 90-days correlation between Fidelity Capital Income and Fidelity Freedom 2055 is 0.87 (i.e., Very poor 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 0.92 (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

  0.92FPTKX Fidelity Freedom 2015PairCorr
  0.95FPURX Fidelity PuritanPairCorr
  0.95FPUKX Fidelity PuritanPairCorr
  0.74FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.95FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.94FRBDX Fidelity Freedom 2070PairCorr
  0.94FRBEX Fidelity Freedom 2070PairCorr
  0.94FRBHX Fidelity Freedom 2070PairCorr
  0.94FRBJX Fidelity Advisor FreedomPairCorr
  0.94FRBKX Fidelity Advisor FreedomPairCorr
  0.94FRBLX Fidelity Advisor FreedomPairCorr
  0.94FRBNX Fidelity Advisor FreedomPairCorr
  0.94FRBOX Fidelity Advisor FreedomPairCorr
  0.94FRBPX Fidelity Advisor FreedomPairCorr
  0.94FRBQX Fidelity Flex FreedomPairCorr
  0.92FRBUX Fidelity Freedom IndexPairCorr
  0.92FRBVX Fidelity Freedom IndexPairCorr
  0.92FRBWX Fidelity Freedom IndexPairCorr
  0.94FRBYX Fidelity Freedom BlendPairCorr
  0.94FRBZX Fidelity Freedom BlendPairCorr
  0.97FRAGX Aggressive GrowthPairCorr
  0.92FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  0.94FRCFX Fidelity Freedom BlendPairCorr
  0.94FRCHX Fidelity Freedom BlendPairCorr
  0.98FRCJX Fidelity Freedom BlendPairCorr
  0.94FRCKX Fidelity Freedom BlendPairCorr
  0.94FRCLX Fidelity Freedom BlendPairCorr
  0.94FRCNX Fidelity Freedom BlendPairCorr
  0.94FRCPX Fidelity Freedom BlendPairCorr
  0.93FRCQX Fidelity SustainablePairCorr
  0.93FRCRX Fidelity SustainablePairCorr
  0.93FRCVX Fidelity SustainablePairCorr
  0.93FRCWX Fidelity SustainablePairCorr
  0.92FRCYX Fidelity SustainablePairCorr
  0.92FRDCX Fidelity SustainablePairCorr
  0.93FRDDX 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.

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