Fidelity High Correlations

FDHY Etf

USD 49.45 0.09 0.18%

The current 90-days correlation between Fidelity High Yield and Dimensional ETF Trust is 0.56 (i.e., Very weak diversification). The correlation of Fidelity High 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 High Correlation With Market

Almost no diversification

The correlation between Fidelity High Yield and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity High Yield and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fidelity Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity High Yield. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Fidelity Etf

0.99	HYG	iShares iBoxx High	Pair Corr
0.99	USHY	iShares Broad USD	Pair Corr
0.99	JNK	SPDR Bloomberg High	Pair Corr
0.99	SHYG	iShares 0 5	Pair Corr
0.99	HYLB	Xtrackers USD High	Pair Corr
0.99	SJNK	SPDR Bloomberg Short	Pair Corr
0.98	ANGL	VanEck Fallen Angel	Pair Corr
0.96	FALN	iShares Fallen Angels	Pair Corr
0.93	HYLS	First Trust Tactical	Pair Corr
0.98	HYDW	Xtrackers Low Beta	Pair Corr
0.75	AGQ	ProShares Ultra Silver	Pair Corr
0.87	JNUG	Direxion Daily Junior	Pair Corr
0.87	NUGT	Direxion Daily Gold	Pair Corr
0.88	GGLL	Direxion Daily GOOGL Downward Rally	Pair Corr
0.99	AHYB	American Century ETF	Pair Corr
0.79	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.85	CAT	Caterpillar	Pair Corr
0.89	BA	Boeing	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr
0.88	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.89	DD	Dupont De Nemours Earnings Call Today	Pair Corr

Moving against Fidelity Etf

0.78	FNGO	MicroSectors FANG Index	Pair Corr
0.55	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.36	NVDL	GraniteShares 15x Long	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.39	MMM	3M Company	Pair Corr

Related Correlations Analysis

	YLD	DDLS	RSPG	VFQY	IVOL	AFLG	SPYU	FLSP	HAPI	DFVX
YLD		0.96	0.73	0.91	-0.73	0.93	0.58	0.81	0.85	0.96	YLD
DDLS	0.96		0.79	0.9	-0.71	0.93	0.5	0.87	0.83	0.98	DDLS
RSPG	0.73	0.79		0.58	-0.5	0.68	0.21	0.59	0.48	0.77	RSPG
VFQY	0.91	0.9	0.58		-0.64	0.93	0.65	0.81	0.91	0.94	VFQY
IVOL	-0.73	-0.71	-0.5	-0.64		-0.69	-0.51	-0.59	-0.62	-0.69	IVOL
AFLG	0.93	0.93	0.68	0.93	-0.69		0.77	0.8	0.94	0.97	AFLG
SPYU	0.58	0.5	0.21	0.65	-0.51	0.77		0.4	0.85	0.61	SPYU
FLSP	0.81	0.87	0.59	0.81	-0.59	0.8	0.4		0.74	0.84	FLSP
HAPI	0.85	0.83	0.48	0.91	-0.62	0.94	0.85	0.74		0.89	HAPI
DFVX	0.96	0.98	0.77	0.94	-0.69	0.97	0.61	0.84	0.89		DFVX
	YLD	DDLS	RSPG	VFQY	IVOL	AFLG	SPYU	FLSP	HAPI	DFVX

Please upgrade your account to get full access to Macroaxis premium features

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

DFVX	+ 0.98	DDLS
DFVX	+ 0.97	AFLG
DDLS	+ 0.96	YLD
DFVX	+ 0.96	YLD
DFVX	+ 0.94	VFQY
HAPI	+ 0.94	AFLG

High negative correlations

IVOL	- 0.73	YLD
IVOL	- 0.71	DDLS
DFVX	- 0.69	IVOL
AFLG	- 0.69	IVOL
IVOL	- 0.64	VFQY
HAPI	- 0.62	IVOL

Fidelity High Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity High ETF 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 High'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
YLD	0.18	0.01	(0.23)	0.15	0.07	(0.22)	0.48	(0.32)	1.17
DDLS	0.48	0.11	0.10	0.26	0.42	(0.52)	1.17	(0.89)	3.16
RSPG	1.13	0.25	0.14	0.73	1.13	(1.20)	2.43	(2.03)	5.76
VFQY	0.69	0.02	0.02	0.10	0.71	(0.70)	1.84	(1.35)	3.88
IVOL	0.29	0.00	0.00	0.08	0.00	0.00	0.62	(0.58)	1.63
AFLG	0.56	0.00	(0.03)	0.08	0.69	(0.56)	1.22	(1.27)	3.26
SPYU	2.27	(0.27)	0.00	(0.01)	0.00	0.00	4.41	(4.98)	14.22
FLSP	0.50	0.02	(0.07)	0.19	0.59	(0.53)	0.90	(1.02)	3.07
HAPI	0.58	(0.04)	(0.06)	0.03	0.78	(0.57)	1.28	(1.24)	3.29
DFVX	0.55	0.04	0.03	0.14	0.54	(0.58)	1.18	(0.96)	3.04

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

2026 Macroaxis LLC