Multimedia Portfolio Correlations

Mutual Funds . USA . 
Fund . Multimedia Portfolio Multimedia
FBMPX Fund  USD 145.76  2.54  1.71%   
The current 90-days correlation between Multimedia Portfolio and Fidelity Covington Trust is 0.22 (i.e., Modest diversification). The correlation of Multimedia Portfolio 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.

Multimedia Portfolio Correlation With Market

Very poor diversification

The correlation between Multimedia Portfolio Multimedi and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multimedia Portfolio Multimedi 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 Multimedia Portfolio Multimedia. 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 metropolitan statistical area.

Moving together with Multimedia Mutual Fund

  0.73FPTKX Fidelity Freedom 2015PairCorr
  0.88FPURX Fidelity PuritanPairCorr
  0.9FQIFX Fidelity Freedom IndexPairCorr
  0.9FQIPX Fidelity Freedom IndexPairCorr
  0.85FQITX Fidelity Salem StreetPairCorr
  0.87FQLSX Fidelity Flex FreedomPairCorr
  0.81FRBDX Fidelity Freedom 2070PairCorr
  0.81FRBEX Fidelity Freedom 2070PairCorr
  0.82FRBHX Fidelity Freedom 2070PairCorr
  0.82FRBKX Fidelity Advisor FreedomPairCorr
  0.82FRBLX Fidelity Advisor FreedomPairCorr
  0.82FRBNX Fidelity Advisor FreedomPairCorr
  0.82FRBOX Fidelity Advisor FreedomPairCorr
  0.82FRBPX Fidelity Advisor FreedomPairCorr
  0.82FRBQX Fidelity Flex FreedomPairCorr
  0.83FRBUX Fidelity Freedom IndexPairCorr
  0.83FRBVX Fidelity Freedom IndexPairCorr
  0.83FRBWX Fidelity Freedom IndexPairCorr
  0.82FRBZX Fidelity Freedom BlendPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.84FRAMX Fidelity Income ReplPairCorr
  0.88FRASX Fidelity Income ReplPairCorr
  0.82FRCFX Fidelity Freedom BlendPairCorr
  0.82FRCHX Fidelity Freedom BlendPairCorr
  0.88FRCKX Fidelity Freedom BlendPairCorr
  0.81FRCLX Fidelity Freedom BlendPairCorr
  0.82FRCNX Fidelity Freedom BlendPairCorr
  0.82FRCQX Fidelity SustainablePairCorr
  0.82FRCRX Fidelity SustainablePairCorr
  0.82FRCVX Fidelity SustainablePairCorr
  0.82FRCWX Fidelity SustainablePairCorr
  0.82FRCYX Fidelity SustainablePairCorr
  0.81FRDCX Fidelity SustainablePairCorr
  0.82FRDEX Fidelity SustainablePairCorr
  0.76FRIFX Fidelity Real EstatePairCorr
  0.75FRIOX Fidelity Real EstatePairCorr
  0.73FRIQX Fidelity Real EstatePairCorr
  0.88FRHMX Fidelity Managed RetPairCorr
  0.88FRKMX Fidelity Managed RetPairCorr
  0.76FRIRX Fidelity Real EstatePairCorr

Related Correlations Analysis


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

SMLF
+ 0.99
TNA
FELV
+ 0.96
FESM
QLTY
+ 0.96
SMLF
QLTY
+ 0.92
TNA
FESM
+ 0.85
TNA
SMLF
+ 0.84
FESM
  

High negative correlations

CQQQ
- 0.32
FALIX
QLTY
- 0.28
ARKW
FHLC
- 0.23
ARKW
SMLF
- 0.18
ARKW
FELV
- 0.17
ARKW
CQQQ
- 0.17
ARKW

Risk-Adjusted Indicators

There is a big difference between Multimedia Mutual Fund performing well and Multimedia Portfolio 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 Multimedia Portfolio'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
FALIX  0.31 (0.07) 0.00  0.91  0.00 
 0.00 
 0.57 
(1.17)
 3.03 
TNA  2.72  0.14  0.06  0.07  3.29 
(2.70)
 5.37 
(5.58)
 13.93 
COWG  0.75 (0.01)(0.04)(0.09) 1.12 
(0.73)
 1.76 
(2.31)
 4.25 
ARKW  1.45 (0.42) 0.00 (0.27) 0.00 
 0.00 
 2.33 
(4.22)
 7.93 
FESM  0.85  0.10  0.07  0.46  0.97 
(0.88)
 1.90 
(1.86)
 4.56 
SMLF  0.83  0.04  0.04  0.07  1.00 
(0.88)
 1.85 
(1.86)
 4.06 
QLTY  0.61  0.05  0.06  0.09  0.65 
(0.63)
 1.44 
(1.10)
 3.43 
CQQQ  1.22  0.03  0.01  0.11  1.41 
(1.27)
 2.82 
(2.19)
 7.84 
FHLC  0.65  0.08  0.07 (0.91) 0.56 
(0.78)
 2.02 
(1.13)
 3.74 
FELV  0.54  0.09  0.08  13.76  0.53 
(0.57)
 1.23 
(1.01)
 2.84 

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2026 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY