Fidelity Disciplined Correlations

FDEQX Fund

USD 74.56 0.65 0.86%

The current 90-days correlation between Fidelity Disciplined and Growth Fund Of is 0.05 (i.e., Significant 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

Significant diversification

The correlation between Fidelity Disciplined Equity and DJI is 0.03 (i.e., Significant 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 producer price index.

Moving together with Fidelity Mutual Fund

0.99	FPURX	Fidelity Puritan	Pair Corr
0.99	FPUKX	Fidelity Puritan	Pair Corr
0.88	FQIPX	Fidelity Freedom Index	Pair Corr
0.82	FQLSX	Fidelity Flex Freedom	Pair Corr
0.95	FRAGX	Aggressive Growth	Pair Corr
0.81	FRLPX	Fidelity Freedom Index	Pair Corr
0.86	FAASX	Fidelity Asset Manager	Pair Corr
0.87	FAAIX	Fidelity Asset Manager	Pair Corr
0.86	FABLX	Fidelity Advisor Balanced	Pair Corr
0.85	FABCX	Fidelity Advisor Balanced	Pair Corr
0.93	FACVX	Fidelity Convertible	Pair Corr
0.85	FACPX	Fidelity Advisor Sumer	Pair Corr
0.85	FACNX	Fidelity Canada	Pair Corr
0.94	FACGX	Fidelity Advisor Growth	Pair Corr
0.92	FADTX	Fidelity Advisor Tec	Pair Corr
0.94	FADAX	Fidelity Advisor Dividend	Pair Corr
0.84	FAEVX	Fidelity Advisor Equity	Pair Corr
0.92	FAEGX	Fidelity Advisor Equity	Pair Corr
0.87	FAFSX	Fidelity Advisor Fin	Pair Corr

Moving against Fidelity Mutual Fund

0.32	FACTX	Fidelity Advisor Health	Pair Corr
0.48	FAERX	Fidelity Advisor Overseas	Pair Corr
0.33	FAIDX	Fidelity International	Pair Corr
0.31	FACDX	Fidelity Advisor Health	Pair Corr

Related Correlations Analysis

	GFAFX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX
GFAFX		-0.73	0.0	-0.23	0.73	0.67	0.02	-0.49	0.5	0.93	GFAFX
444859BR2	-0.73		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	-0.69	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.23	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	-0.32	BRRAY
MSTSX	0.73	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	0.75	MSTSX
LBHIX	0.67	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	0.68	LBHIX
ABHYX	0.02	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	0.07	ABHYX
SCAXF	-0.49	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	-0.43	SCAXF
VIASP	0.5	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		0.41	VIASP
AAEVX	0.93	-0.69	0.0	-0.32	0.75	0.68	0.07	-0.43	0.41		AAEVX
	GFAFX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX

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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

AAEVX	+ 0.93	GFAFX
AAEVX	+ 0.75	MSTSX
MSTSX	+ 0.73	GFAFX
AAEVX	+ 0.68	LBHIX
LBHIX	+ 0.67	GFAFX
LBHIX	+ 0.67	MSTSX

High negative correlations

VIASP	- 0.8	SCAXF
444859BR2	- 0.73	GFAFX
AAEVX	- 0.69	444859BR2
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
SCAXF	- 0.49	GFAFX

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
GFAFX	0.65	0.02	0.01	0.14	0.86	(0.66)	1.34	(1.64)	4.42
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18
AAEVX	0.48	0.05	(0.10)	(2.13)	0.54	(0.57)	0.93	(0.77)	2.76

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