Fidelity Growth Correlations

Mutual Funds . USA . 
Fund . Fidelity Growth Strategies
FDEGX Fund  USD 76.95  0.90  1.18%   
The current 90-days correlation between Fidelity Growth Stra and Fidelity Dividend Growth is 0.63 (i.e., Poor diversification). The correlation of Fidelity Growth 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 Growth Correlation With Market

Significant diversification

The correlation between Fidelity Growth Strategies and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Growth Strategies 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 Growth Strategies. 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 price.

Moving together with Fidelity Mutual Fund

  0.86FPURX Fidelity PuritanPairCorr
  0.95FPUKX Fidelity PuritanPairCorr
  0.75FQIPX Fidelity Freedom IndexPairCorr
  0.67FQLSX Fidelity Flex FreedomPairCorr
  0.86FRAGX Aggressive GrowthPairCorr
  0.81FRGAX Growth Allocation IndexPairCorr
  0.66FRLPX Fidelity Freedom IndexPairCorr
  0.78FRPCX Fidelity Sai AlternativePairCorr
  0.73FAASX Fidelity Asset ManagerPairCorr
  0.74FAAIX Fidelity Asset ManagerPairCorr
  0.67FABLX Fidelity Advisor BalancedPairCorr
  0.66FABCX Fidelity Advisor BalancedPairCorr
  0.9FACVX Fidelity ConvertiblePairCorr
  0.93FACPX Fidelity Advisor SumerPairCorr
  0.85FACNX Fidelity CanadaPairCorr
  0.88FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.7FQITX Fidelity Salem StreetPairCorr
  0.38FRAMX Fidelity Income ReplPairCorr
  0.38FRIMX Fidelity Income ReplPairCorr
  0.34FRESX Fidelity Real EstatePairCorr
  0.37FRKMX Fidelity Managed RetPairCorr
  0.36FRHMX Fidelity Managed RetPairCorr
  0.36FRQAX Fidelity Income ReplPairCorr
  0.35FROGX Fidelity Municipal IncomePairCorr
  0.35FRQIX Fidelity Income ReplPairCorr
  0.35FRQKX Fidelity Managed RetPairCorr
  0.33FRQHX Fidelity Managed RetPairCorr
  0.61FAERX Fidelity Advisor OverseasPairCorr
  0.45FADCX Fidelity Advisor DivPairCorr
  0.43FACTX Fidelity Advisor HealthPairCorr
  0.42FACDX Fidelity Advisor HealthPairCorr
  0.42FADIX Fidelity Advisor DivPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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