Fidelity Equity-income Correlations

FEQIX Fund

USD 77.40 0.70 0.91%

The current 90-days correlation between Fidelity Equity Income and Fidelity Magellan Fund is 0.55 (i.e., Very weak diversification). The correlation of Fidelity Equity-income 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 Equity-income Correlation With Market

Weak diversification

The correlation between Fidelity Equity Income Fund and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Equity Income Fund 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 Equity Income Fund. 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

0.69	FSMAX	Fidelity Extended Market	Pair Corr
0.64	FSRIX	Fidelity Advisor Str	Pair Corr
0.9	FSSNX	Fidelity Small Cap	Pair Corr
0.67	FSTAX	Fidelity Advisor Str	Pair Corr
0.69	FTBFX	Fidelity Total Bond	Pair Corr
0.67	FBTTX	Fidelity Advisor Bio	Pair Corr
0.74	FCBFX	Fidelity Porate Bond	Pair Corr
0.64	FCLKX	Fidelity Large Cap	Pair Corr
0.85	FCPVX	Fidelity Small Cap	Pair Corr
0.76	FDAGX	Consumer Staples Por	Pair Corr
0.91	FEQTX	Fidelity Equity Dividend	Pair Corr
0.83	FWRCX	Fidelity Advisor Global	Pair Corr
0.69	FFBPX	Fidelity Freedom Blend	Pair Corr
0.66	FXNAX	Fidelity Bond Index	Pair Corr
0.89	FGITX	Fidelity Advisor Growth	Pair Corr
0.8	FHCCX	Fidelity Advisor Health	Pair Corr
0.71	FHBFX	Fidelity Freedom Blend	Pair Corr
0.76	FHNFX	Fidelity Series Gove	Pair Corr
0.89	FZABX	Fidelity Advisor Div	Pair Corr
0.71	FHRVX	Fidelity Managed Ret	Pair Corr
0.72	FHZDX	Fidelity Freedom Blend	Pair Corr
0.62	FIEZX	Fidelity Total Inter	Pair Corr

Moving against Fidelity Mutual Fund

0.54	FUEMX	Fidelity Flex Servative	Pair Corr
0.53	FSAWX	Fidelity Sai Convertible	Pair Corr
0.49	FIFGX	Fidelity Sai Inflati	Pair Corr

Related Correlations Analysis

	FMAGX	FDGFX	FDIVX	FDGRX	FMCSX
FMAGX		0.8	0.77	0.48	0.78	FMAGX
FDGFX	0.8		0.66	0.56	0.66	FDGFX
FDIVX	0.77	0.66		0.47	0.75	FDIVX
FDGRX	0.48	0.56	0.47		0.53	FDGRX
FMCSX	0.78	0.66	0.75	0.53		FMCSX
	FMAGX	FDGFX	FDIVX	FDGRX	FMCSX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Equity-income 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 Equity-income'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
FMAGX	0.85	0.01	(0.03)	0.11	1.33	(0.81)	1.48	(2.11)	6.50
FDGFX	0.86	0.04	(0.01)	0.20	1.22	(0.92)	1.73	(2.13)	7.53
FDIVX	0.64	(0.02)	(0.09)	0.02	0.95	(0.59)	1.20	(1.69)	3.57
FDGRX	1.12	(0.04)	(0.04)	(0.01)	2.09	(1.02)	2.02	(2.47)	10.29
FMCSX	0.76	0.00	(0.02)	0.09	1.02	(0.81)	1.46	(1.40)	6.73

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

2024 Macroaxis LLC