Fidelity Fund Correlations

Mutual Funds . USA . 
Fund . Fidelity Fund Fidelity
FFIDX Fund  USD 95.96  0.41  0.43%   
The current 90-days correlation between Fidelity Fund Fidelity and Fidelity Dividend Growth is 0.69 (i.e., Poor 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 Fidelity and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Fund Fidelity 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 Fidelity. 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 unemployment.

Moving together with Fidelity Mutual Fund

  0.85FAFGX American FundsPairCorr
  0.85FFAFX American FundsPairCorr
  0.88GFACX Growth FundPairCorr
  0.88GFAFX Growth FundPairCorr
  0.88AGTHX Growth FundPairCorr
  0.88CGFFX Growth FundPairCorr
  0.88CGFCX Growth FundPairCorr
  0.88CGFAX Growth FundPairCorr
  0.88CGFEX Growth FundPairCorr
  0.88RGAEX Growth FundPairCorr
  0.73KSCOX Kinetics Small Cap Steady GrowthPairCorr
  0.72LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.71WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.71KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.71KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.71KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  0.73KSCYX Kinetics Small Cap Steady GrowthPairCorr
  0.61LETRX Voya Russia FundPairCorr
  0.7KINCX Kinetics InternetPairCorr
  0.73KSOCX Kinetics Small Cap Steady GrowthPairCorr
  0.77AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.75CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.69HD Home DepotPairCorr
  0.81AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.64JPM JPMorgan Chase Sell-off TrendPairCorr

Moving against Fidelity Mutual Fund

  0.68JNJ Johnson Johnson Sell-off TrendPairCorr
  0.65MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.6KO Coca Cola Aggressive PushPairCorr
  0.47PFE Pfizer Inc Aggressive PushPairCorr
  0.45PG Procter GamblePairCorr

Related Correlations Analysis

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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.

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