Fidelity Small Correlations

Mutual Funds USA . 
Fund . Fidelity Small Cap
FCCGX Fund  USD 25.99  0.20  0.78%   
The current 90-days correlation between Fidelity Small Cap and Fidelity Advisor Technology is -0.07 (i.e., Good diversification). The correlation of Fidelity Small 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 Small Correlation With Market

Very poor diversification

The correlation between Fidelity Small Cap and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small Cap 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 Small Cap. 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 census.

Moving together with FIDELITY Mutual Fund

  0.83FPTKX Fidelity Freedom 2015PairCorr
  0.91FPURX Fidelity PuritanPairCorr
  0.91FPUKX Fidelity PuritanPairCorr
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.86FQIFX Fidelity Freedom IndexPairCorr
  0.89FQIPX Fidelity Freedom IndexPairCorr
  0.9FQITX Fidelity Salem StreetPairCorr
  0.88FQLSX Fidelity Flex FreedomPairCorr
  0.88FRBDX Fidelity Freedom 2070PairCorr
  0.88FRBEX Fidelity Freedom 2070PairCorr
  0.88FRBHX Fidelity Freedom 2070PairCorr
  0.88FRBJX Fidelity Advisor FreedomPairCorr
  0.88FRBKX Fidelity Advisor FreedomPairCorr
  0.89FRBLX Fidelity Advisor FreedomPairCorr
  0.88FRBNX Fidelity Advisor FreedomPairCorr
  0.89FRBOX Fidelity Advisor FreedomPairCorr
  0.89FRBPX Fidelity Advisor FreedomPairCorr
  0.89FRBQX Fidelity Flex FreedomPairCorr
  0.89FRBUX Fidelity Freedom IndexPairCorr
  0.89FRBVX Fidelity Freedom IndexPairCorr
  0.89FRBWX Fidelity Freedom IndexPairCorr
  0.89FRBYX Fidelity Freedom BlendPairCorr
  0.89FRBZX Fidelity Freedom BlendPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.83FRAMX Fidelity Income ReplPairCorr
  0.84FRASX Fidelity Income ReplPairCorr
  0.89FRCFX Fidelity Freedom BlendPairCorr
  0.89FRCHX Fidelity Freedom BlendPairCorr
  0.89FRCJX Fidelity Freedom BlendPairCorr
  0.89FRCKX Fidelity Freedom BlendPairCorr
  0.88FRCLX Fidelity Freedom BlendPairCorr
  0.88FRCNX Fidelity Freedom BlendPairCorr
  0.89FRCPX Fidelity Freedom BlendPairCorr
  0.9FRCQX Fidelity SustainablePairCorr
  0.9FRCRX Fidelity SustainablePairCorr
  0.9FRCVX Fidelity SustainablePairCorr
  0.9FRCWX Fidelity SustainablePairCorr
  0.9FRCYX Fidelity SustainablePairCorr
  0.89FRDCX Fidelity SustainablePairCorr
  0.9FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between FIDELITY Mutual Fund performing well and Fidelity Small 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 Small'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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