Fidelity Fund Correlations

FFDKX Fund

USD 114.04 0.65 0.57%

The current 90-days correlation between Fidelity Fund Class and Auer Growth Fund is 0.16 (i.e., Average diversification). The correlation of Fidelity Fund 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 Fund Correlation With Market

Poor diversification

The correlation between Fidelity Fund Class and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Fund Class 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 Fund Class. 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 industry.

Moving together with Fidelity Mutual Fund

0.73	AGTHX	Growth Fund	Pair Corr
0.74	GFACX	Growth Fund	Pair Corr
0.76	GFAFX	Growth Fund	Pair Corr
0.89	FAFGX	American Funds	Pair Corr
0.89	FFAFX	American Funds	Pair Corr
0.89	CGFFX	Growth Fund	Pair Corr
0.88	CGFCX	Growth Fund	Pair Corr
0.76	CGFAX	Growth Fund	Pair Corr
0.75	CGFEX	Growth Fund	Pair Corr
0.73	BA	Boeing	Pair Corr

Moving against Fidelity Mutual Fund

0.34	NXJ	Nuveen New Jersey	Pair Corr
0.31	XNBHX	Neuberger Berman Int	Pair Corr
0.45	T	ATT Inc Earnings Call This Week	Pair Corr
0.41	VZ	Verizon Communications Earnings Call Today	Pair Corr

Related Correlations Analysis

	DIHRX	GMLVX	BBBIX	SGICX	JAAIX	DFVEX	AUERX
DIHRX		0.93	0.84	0.92	0.98	0.94	0.86	DIHRX
GMLVX	0.93		0.71	0.86	0.93	0.8	0.7	GMLVX
BBBIX	0.84	0.71		0.84	0.8	0.87	0.89	BBBIX
SGICX	0.92	0.86	0.84		0.91	0.86	0.87	SGICX
JAAIX	0.98	0.93	0.8	0.91		0.91	0.84	JAAIX
DFVEX	0.94	0.8	0.87	0.86	0.91		0.9	DFVEX
AUERX	0.86	0.7	0.89	0.87	0.84	0.9		AUERX
	DIHRX	GMLVX	BBBIX	SGICX	JAAIX	DFVEX	AUERX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Fund 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 Fund'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
DIHRX	0.57	0.07	0.07	0.15	0.58	(0.61)	1.19	(1.26)	3.04
GMLVX	0.64	0.16	0.23	0.34	0.31	(0.83)	1.47	(0.98)	3.10
BBBIX	0.05	0.01	(0.42)	1.96	0.00	(0.17)	0.10	(0.10)	0.48
SGICX	0.63	0.22	0.32	0.43	0.00	(0.80)	1.25	(0.82)	10.57
JAAIX	0.19	0.03	(0.04)	0.18	0.00	(0.21)	0.36	(0.36)	0.79
DFVEX	0.56	0.04	0.04	0.09	0.63	(0.62)	1.31	(1.30)	3.57
AUERX	0.87	0.35	0.38	0.82	0.24	(1.15)	1.77	(1.38)	12.63

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