Fidelity Disciplined Correlations

FDEKX Fund

USD 68.16 0.23 0.34%

The current 90-days correlation between Fidelity Disciplined and T Rowe Price is 0.14 (i.e., Average diversification). The correlation of Fidelity Disciplined 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 Disciplined Correlation With Market

Average diversification

The correlation between Fidelity Disciplined Equity and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Disciplined Equity 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 Disciplined Equity. 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 industry.

Moving together with Fidelity Mutual Fund

0.67	FPTKX	Fidelity Freedom 2015	Pair Corr
0.68	FQIFX	Fidelity Freedom Index	Pair Corr
0.76	FQIPX	Fidelity Freedom Index	Pair Corr
0.8	FQLSX	Fidelity Flex Freedom	Pair Corr
0.75	FRASX	Fidelity Income Repl	Pair Corr
0.78	FRESX	Fidelity Real Estate	Pair Corr
0.76	FRIFX	Fidelity Real Estate	Pair Corr
0.73	FRIMX	Fidelity Income Repl	Pair Corr
0.73	FRHMX	Fidelity Managed Ret	Pair Corr
0.77	FRIRX	Fidelity Real Estate	Pair Corr
0.73	FRQIX	Fidelity Income Repl	Pair Corr
0.73	FRQAX	Fidelity Income Repl	Pair Corr
0.76	FAASX	Fidelity Asset Manager	Pair Corr
0.95	FACNX	Fidelity Canada	Pair Corr
0.7	FADMX	Fidelity Advisor Str	Pair Corr
0.83	FAFFX	Fidelity Advisor Freedom	Pair Corr
0.63	FAFCX	Fidelity Advisor Fin	Pair Corr
0.74	FAGNX	Fidelity Advisor Energy	Pair Corr
0.78	FALIX	Fidelity Advisor Large	Pair Corr
0.78	FALAX	Fidelity Advisor Large	Pair Corr
0.77	FSAAX	Fidelity Asset Manager	Pair Corr
0.77	FANIX	Fidelity Advisor Energy	Pair Corr
0.77	FANAX	Fidelity Advisor Energy	Pair Corr
0.83	FSCDX	Fidelity Advisor Small	Pair Corr
0.83	FSCOX	Fidelity International	Pair Corr
0.89	FSCRX	Fidelity Small Cap	Pair Corr

Related Correlations Analysis

	PRINX	TFBIX	LCCMX	PRVBX	TBGAX	FMFXX	TIMTX
PRINX		0.99	0.27	0.58	1.0	0.0	0.99	PRINX
TFBIX	0.99		0.33	0.57	1.0	0.0	0.98	TFBIX
LCCMX	0.27	0.33		0.12	0.31	0.0	0.21	LCCMX
PRVBX	0.58	0.57	0.12		0.56	0.0	0.57	PRVBX
TBGAX	1.0	1.0	0.31	0.56		0.0	0.99	TBGAX
FMFXX	0.0	0.0	0.0	0.0	0.0		0.0	FMFXX
TIMTX	0.99	0.98	0.21	0.57	0.99	0.0		TIMTX
	PRINX	TFBIX	LCCMX	PRVBX	TBGAX	FMFXX	TIMTX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

TBGAX	+ 1.0	PRINX
TBGAX	+ 1.0	TFBIX
TFBIX	+ 0.99	PRINX
TIMTX	+ 0.99	PRINX
TIMTX	+ 0.99	TBGAX
TIMTX	+ 0.98	TFBIX

High negative correlations

TIMTX	- 0.0	FMFXX
FMFXX	- 0.0	TBGAX
FMFXX	- 0.0	PRVBX
FMFXX	- 0.0	LCCMX
FMFXX	- 0.0	TFBIX
FMFXX	- 0.0	PRINX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Disciplined 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 Disciplined'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
PRINX	0.20	(0.04)	0.00	(1.01)	0.00	0.00	0.44	(0.53)	1.60
TFBIX	0.19	(0.03)	0.00	(1.39)	0.00	0.00	0.40	(0.50)	1.59
LCCMX	0.10	0.03	0.00	0.84	0.00	0.00	0.24	(0.12)	1.94
PRVBX	0.09	(0.01)	(0.24)	(0.54)	0.10	(0.11)	0.17	(0.20)	0.50
TBGAX	0.21	(0.04)	0.00	(1.14)	0.00	0.00	0.45	(0.55)	1.75
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIMTX	0.18	(0.04)	0.00	(0.86)	0.00	0.00	0.37	(0.47)	1.49

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

2024 Macroaxis LLC