Fidelity Dividend Correlations

Mutual Funds USA . 
Fund . Fidelity Dividend Growth
FDGFX Fund  USD 39.92  0.02  0.05%   
The current 90-days correlation between Fidelity Dividend Growth and Fidelity Mid Cap Stock is 0.55 (i.e., Very weak diversification). The correlation of Fidelity Dividend 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 Dividend Correlation With Market

Very weak diversification

The correlation between Fidelity Dividend Growth and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Dividend Growth 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 Dividend Growth. 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 census.

Moving against Fidelity Mutual Fund

  0.61FRIOX Fidelity Real EstatePairCorr
  0.6FRIFX Fidelity Real EstatePairCorr
  0.6FRINX Fidelity Real EstatePairCorr
  0.6FRIRX Fidelity Real EstatePairCorr
  0.59FRIQX Fidelity Real EstatePairCorr
  0.57FRESX Fidelity Real EstatePairCorr
  0.49FROGX Fidelity Municipal IncomePairCorr
  0.46FRAMX Fidelity Income ReplPairCorr
  0.45FRIMX Fidelity Income ReplPairCorr
  0.45FRHMX Fidelity Managed RetPairCorr
  0.45FRKMX Fidelity Managed RetPairCorr
  0.44FRQHX Fidelity Managed RetPairCorr
  0.44FRQIX Fidelity Income ReplPairCorr
  0.44FRQKX Fidelity Managed RetPairCorr
  0.44FRQAX Fidelity Income ReplPairCorr
  0.43FPXTX Fidelity PennsylvaniaPairCorr
  0.38FQITX Fidelity Salem StreetPairCorr
  0.36FRASX Fidelity Income ReplPairCorr
  0.46FAFAX Fidelity Advisor FreedomPairCorr
  0.39FACFX Fidelity Advisor FreedomPairCorr
  0.31FAERX Fidelity Advisor OverseasPairCorr

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   
FDEGX
+ 0.95
FMCSX
FDEGX
+ 0.88
FEQIX
FEQIX
+ 0.86
FMCSX
FLPSX
+ 0.74
FEQIX
FLPSX
+ 0.63
FMCSX
FDEGX
+ 0.57
FLPSX
  
High negative correlations   
FDEGX
- 0.38
FDIVX
FDIVX
- 0.26
FMCSX
FDIVX
- 0.03
FEQIX

Risk-Adjusted Indicators

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