Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex 500
FDFIX Fund  USD 25.80  0.15  0.58%   
The current 90-days correlation between Fidelity Flex 500 and Fidelity Flex International is 0.51 (i.e., Very weak diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Very poor diversification

The correlation between Fidelity Flex 500 and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Flex 500 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 Flex 500. 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.99FPURX Fidelity PuritanPairCorr
  0.99FPUKX Fidelity PuritanPairCorr
  0.82FQIPX Fidelity Freedom IndexPairCorr
  0.87FQLSX Fidelity Flex FreedomPairCorr
  0.9FRAGX Aggressive GrowthPairCorr
  0.86FRGAX Growth Allocation IndexPairCorr
  0.87FRLPX Fidelity Freedom IndexPairCorr
  0.75FRPCX Fidelity Sai AlternativePairCorr
  0.86FAASX Fidelity Asset ManagerPairCorr
  0.86FAAIX Fidelity Asset ManagerPairCorr
  0.81FABLX Fidelity Advisor BalancedPairCorr
  0.79FABCX Fidelity Advisor BalancedPairCorr
  0.96FACVX Fidelity ConvertiblePairCorr
  0.91FACPX Fidelity Advisor SumerPairCorr
  0.91FACNX Fidelity CanadaPairCorr
  0.98FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.59FQITX Fidelity Salem StreetPairCorr
  0.5FAERX Fidelity Advisor OverseasPairCorr
  0.32FADCX Fidelity Advisor DivPairCorr
  0.31FADIX Fidelity Advisor DivPairCorr

Related Correlations Analysis

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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   
FLXSX
+ 0.97
FLAPX
FIBUX
+ 0.65
FUENX
FIBUX
+ 0.47
FITFX
FUENX
+ 0.44
FITFX
  
High negative correlations   
FIBUX
- 0.69
FLAPX
FIBUX
- 0.65
FLXSX
FLXSX
- 0.38
FITFX
FLAPX
- 0.36
FITFX
FUENX
- 0.23
FLXSX
FUENX
- 0.18
FLAPX

Risk-Adjusted Indicators

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