Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FECGX Fund  USD 32.90  0.16  0.48%   
The current 90-days correlation between Fidelity Small Cap and Emerald Growth Fund is 0.11 (i.e., Average diversification). The correlation of Fidelity Small 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 Small Correlation With Market

Very poor diversification

The correlation between Fidelity Small Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small Cap 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 Small Cap. 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 together with Fidelity Mutual Fund

  0.63FPTKX Fidelity Freedom 2015PairCorr
  0.85FPURX Fidelity PuritanPairCorr
  0.71FPUKX Fidelity PuritanPairCorr
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.85FQIFX Fidelity Freedom IndexPairCorr
  0.68FQIPX Fidelity Freedom IndexPairCorr
  0.87FQITX Fidelity Salem StreetPairCorr
  0.67FQLSX Fidelity Flex FreedomPairCorr
  0.82FRBDX Fidelity Freedom 2070PairCorr
  0.65FRBEX Fidelity Freedom 2070PairCorr
  0.82FRBHX Fidelity Freedom 2070PairCorr
  0.83FRBJX Fidelity Advisor FreedomPairCorr
  0.66FRBKX Fidelity Advisor FreedomPairCorr
  0.83FRBLX Fidelity Advisor FreedomPairCorr
  0.88FRBNX Fidelity Advisor FreedomPairCorr
  0.83FRBOX Fidelity Advisor FreedomPairCorr
  0.88FRBPX Fidelity Advisor FreedomPairCorr
  0.79FRBQX Fidelity Flex FreedomPairCorr
  0.83FRBUX Fidelity Freedom IndexPairCorr
  0.82FRBVX Fidelity Freedom IndexPairCorr
  0.67FRBWX Fidelity Freedom IndexPairCorr
  0.66FRBYX Fidelity Freedom BlendPairCorr
  0.83FRBZX Fidelity Freedom BlendPairCorr
  0.71FRAGX Aggressive GrowthPairCorr
  0.82FRAMX Fidelity Income ReplPairCorr
  0.64FRASX Fidelity Income ReplPairCorr
  0.65FRCFX Fidelity Freedom BlendPairCorr
  0.83FRCHX Fidelity Freedom BlendPairCorr
  0.89FRCJX Fidelity Freedom BlendPairCorr
  0.83FRCKX Fidelity Freedom BlendPairCorr
  0.83FRCLX Fidelity Freedom BlendPairCorr
  0.83FRCNX Fidelity Freedom BlendPairCorr
  0.83FRCPX Fidelity Freedom BlendPairCorr
  0.83FRCQX Fidelity SustainablePairCorr
  0.89FRCRX Fidelity SustainablePairCorr
  0.89FRCVX Fidelity SustainablePairCorr
  0.89FRCWX Fidelity SustainablePairCorr
  0.83FRCYX Fidelity SustainablePairCorr
  0.83FRDCX Fidelity SustainablePairCorr
  0.83FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Small 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 Small'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PEXMX  0.82  0.07  0.07  0.17  0.77 
(1.00)
 1.97 
(1.62)
 3.86 
AVEDX  0.64  0.12  0.02 (1.91) 0.61 
(0.73)
 1.65 
(0.97)
 4.50 
RYSEX  0.90  0.25  0.38  0.31  0.00 
(1.21)
 1.83 
(1.05)
 15.38 
RSEFX  0.94  0.29  0.43  0.34  0.00 
(1.22)
 1.83 
(0.86)
 15.42 
MPIEX  0.61  0.15  0.16  0.38  0.29 
(0.73)
 1.33 
(1.05)
 4.68 
PABFX  0.37  0.07 (0.06)(39.74) 0.29 
(0.46)
 0.73 
(0.66)
 2.18 
TBLGX  0.36  0.04 (0.02) 0.17  0.26 
(0.41)
 0.81 
(0.70)
 1.93 
TBLWX  0.34  0.04 (0.03) 0.18  0.25 
(0.41)
 0.78 
(0.68)
 1.84 
VIISX  0.50  0.09  0.00 (12.42) 0.39 
(0.55)
 1.11 
(0.78)
 2.53 
HSPCX  1.29  0.15  0.04  1.09  1.65 
(1.39)
 2.67 
(2.71)
 7.67 

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