Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FCVCX Fund  USD 16.83  0.09  0.54%   
The current 90-days correlation between Fidelity Small Cap and Touchstone Large Cap is 0.74 (i.e., Poor 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

Almost no diversification

The correlation between Fidelity Small Cap and DJI is 0.91 (i.e., Almost no 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 services.

Moving together with Fidelity Mutual Fund

  0.89FPTKX Fidelity Freedom 2015PairCorr
  0.9FPURX Fidelity PuritanPairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.85FPXTX Fidelity PennsylvaniaPairCorr
  0.93FQIFX Fidelity Freedom IndexPairCorr
  0.92FQIPX Fidelity Freedom IndexPairCorr
  0.92FQITX Fidelity Salem StreetPairCorr
  0.92FQLSX Fidelity Flex FreedomPairCorr
  0.93FRBDX Fidelity Freedom 2070PairCorr
  0.93FRBEX Fidelity Freedom 2070PairCorr
  0.93FRBHX Fidelity Freedom 2070PairCorr
  0.93FRBJX Fidelity Advisor FreedomPairCorr
  0.93FRBKX Fidelity Advisor FreedomPairCorr
  0.93FRBLX Fidelity Advisor FreedomPairCorr
  0.92FRBNX Fidelity Advisor FreedomPairCorr
  0.93FRBOX Fidelity Advisor FreedomPairCorr
  0.93FRBPX Fidelity Advisor FreedomPairCorr
  0.93FRBQX Fidelity Flex FreedomPairCorr
  0.93FRBUX Fidelity Freedom IndexPairCorr
  0.93FRBVX Fidelity Freedom IndexPairCorr
  0.93FRBWX Fidelity Freedom IndexPairCorr
  0.93FRBYX Fidelity Freedom BlendPairCorr
  0.93FRBZX Fidelity Freedom BlendPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.94FRAMX Fidelity Income ReplPairCorr
  0.93FRASX Fidelity Income ReplPairCorr
  0.93FRCFX Fidelity Freedom BlendPairCorr
  0.93FRCHX Fidelity Freedom BlendPairCorr
  0.94FRCJX Fidelity Freedom BlendPairCorr
  0.94FRCKX Fidelity Freedom BlendPairCorr
  0.92FRCLX Fidelity Freedom BlendPairCorr
  0.93FRCNX Fidelity Freedom BlendPairCorr
  0.93FRCPX Fidelity Freedom BlendPairCorr
  0.92FRCQX Fidelity SustainablePairCorr
  0.93FRCRX Fidelity SustainablePairCorr
  0.93FRCVX Fidelity SustainablePairCorr
  0.92FRCWX Fidelity SustainablePairCorr
  0.92FRCYX Fidelity SustainablePairCorr
  0.92FRDCX Fidelity SustainablePairCorr
  0.92FRDDX 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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