Fidelity Blue Correlations

FBCG Etf

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The current 90-days correlation between Fidelity Blue Chip and iShares Russell 1000 is 0.87 (i.e., Very poor diversification). The correlation of Fidelity Blue 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.

Fidelity Blue Correlation With Market

Weak diversification

The correlation between Fidelity Blue Chip and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Blue Chip and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Blue Chip. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Fidelity Etf

0.88	VUG	Vanguard Growth Index	Pair Corr
0.85	IWF	iShares Russell 1000	Pair Corr
0.98	IVW	iShares SP 500	Pair Corr
0.98	SPYG	SPDR Portfolio SP	Pair Corr
0.97	IUSG	iShares Core SP	Pair Corr
0.86	VONG	Vanguard Russell 1000 Potential Growth	Pair Corr
0.84	MGK	Vanguard Mega Cap	Pair Corr
0.86	VRGWX	Vanguard Russell 1000	Pair Corr
0.95	QQQM	Invesco NASDAQ 100	Pair Corr
0.82	IWY	iShares Russell Top	Pair Corr

Moving against Fidelity Etf

0.45	FNGD	MicroSectors FANG Index	Pair Corr
0.49	XLU	Utilities Select Sector Aggressive Push	Pair Corr
0.32	DOGG	First Trust Exchange	Pair Corr

Related Correlations Analysis

	VSGIX	VBK	SPYG	IVE	VOT	VDIGX	IWR	VMGIX	IWB
VSGIX		1.0	0.55	0.85	0.38	0.85	0.94	0.38	0.91	VSGIX
VBK	1.0		0.55	0.85	0.38	0.84	0.94	0.38	0.91	VBK
SPYG	0.55	0.55		0.25	0.83	0.45	0.35	0.83	0.74	SPYG
IVE	0.85	0.85	0.25		-0.01	0.9	0.97	-0.02	0.83	IVE
VOT	0.38	0.38	0.83	-0.01		0.21	0.14	1.0	0.49	VOT
VDIGX	0.85	0.84	0.45	0.9	0.21		0.9	0.21	0.88	VDIGX
IWR	0.94	0.94	0.35	0.97	0.14	0.9		0.13	0.87	IWR
VMGIX	0.38	0.38	0.83	-0.02	1.0	0.21	0.13		0.49	VMGIX
IWB	0.91	0.91	0.74	0.83	0.49	0.88	0.87	0.49		IWB
	VSGIX	VBK	SPYG	IVE	VOT	VDIGX	IWR	VMGIX	IWB

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VBK	+ 1.0	VSGIX
VMGIX	+ 1.0	VOT
IWR	+ 0.97	IVE
IWR	+ 0.94	VSGIX
IWR	+ 0.94	VBK
IWB	+ 0.91	VSGIX

High negative correlations

VMGIX	- 0.02	IVE
VOT	- 0.01	IVE

Fidelity Blue Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Blue ETF 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 Blue'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VSGIX	0.99	(0.01)	0.00	0.05	1.12	(1.15)	2.00	(1.88)	6.42
VBK	0.97	(0.01)	0.00	0.05	1.12	(1.13)	1.97	(1.96)	6.32
SPYG	0.75	(0.11)	0.00	(0.09)	0.00	0.00	1.22	(1.77)	5.81
IVE	0.52	0.03	0.03	0.10	0.52	(0.58)	1.05	(1.06)	3.06
VOT	0.77	(0.14)	0.00	(0.08)	0.00	0.00	1.40	(1.92)	4.76
VDIGX	0.50	0.01	(0.01)	0.08	0.49	(0.55)	1.12	(0.84)	3.27
IWR	0.65	0.03	0.03	0.09	0.75	(0.68)	1.61	(1.54)	4.18
VMGIX	0.78	(0.14)	0.00	(0.08)	0.00	0.00	1.40	(1.92)	4.96
IWB	0.56	(0.05)	(0.07)	0.00	0.79	(0.55)	1.06	(1.57)	3.61

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