Fidelity Small Correlations

FFSM Etf

31.16 0.47 1.53%

The current 90-days correlation between Fidelity Small Mid and Fidelity Fundamental Large is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Small moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Small Mid Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity Small Correlation With Market

Average diversification

The correlation between Fidelity Small Mid Cap and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small Mid Cap 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 Small Mid Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Fidelity Etf

0.81	IJH	iShares Core SP	Pair Corr
0.66	IWR	iShares Russell Mid	Pair Corr
0.81	MDY	SPDR SP MIDCAP	Pair Corr
0.71	FV	First Trust Dorsey	Pair Corr
0.81	IVOO	Vanguard SP Mid	Pair Corr
0.84	JHMM	John Hancock Multifactor	Pair Corr
0.85	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.82	XMMO	Invesco SP MidCap	Pair Corr
0.77	TOT	Advisor Managed Port	Pair Corr
0.71	LUX	Tema Global	Pair Corr
0.86	FB	ProShares Trust ProShares	Pair Corr
0.86	SWP	SWP Growth Income	Pair Corr
0.84	DUKH	Ocean Park High	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.82	AXP	American Express	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.88	BAC	Bank of America	Pair Corr
0.78	MRK	Merck Company	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.74	CSCO	Cisco Systems	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr

Moving against Fidelity Etf

0.34	SHLD	Global X Defense	Pair Corr
0.63	T	ATT Inc	Pair Corr
0.61	MSFT	Microsoft Sell-off Trend	Pair Corr
0.54	HD	Home Depot	Pair Corr
0.52	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FFLC	GARP	SEIV	SEIM	LABU	IQDG	SVOL	ECH	DSPY	ABFL
FFLC		0.96	0.81	0.83	0.55	0.73	0.89	0.62	0.98	0.81	FFLC
GARP	0.96		0.67	0.81	0.4	0.58	0.8	0.47	0.92	0.85	GARP
SEIV	0.81	0.67		0.64	0.85	0.82	0.79	0.92	0.85	0.44	SEIV
SEIM	0.83	0.81	0.64		0.44	0.75	0.74	0.48	0.81	0.75	SEIM
LABU	0.55	0.4	0.85	0.44		0.59	0.5	0.92	0.58	0.09	LABU
IQDG	0.73	0.58	0.82	0.75	0.59		0.77	0.65	0.79	0.59	IQDG
SVOL	0.89	0.8	0.79	0.74	0.5	0.77		0.54	0.92	0.77	SVOL
ECH	0.62	0.47	0.92	0.48	0.92	0.65	0.54		0.63	0.13	ECH
DSPY	0.98	0.92	0.85	0.81	0.58	0.79	0.92	0.63		0.82	DSPY
ABFL	0.81	0.85	0.44	0.75	0.09	0.59	0.77	0.13	0.82		ABFL
	FFLC	GARP	SEIV	SEIM	LABU	IQDG	SVOL	ECH	DSPY	ABFL

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Fidelity Small Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Small 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 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FFLC	0.62	0.03	(0.02)	0.26	0.95	(0.57)	1.16	(1.60)	3.43
GARP	0.91	0.05	(0.01)	0.45	1.27	(0.91)	1.79	(2.08)	4.97
SEIV	0.60	0.10	0.04	0.79	0.76	(0.59)	1.24	(1.55)	3.11
SEIM	0.77	(0.02)	(0.02)	0.05	1.08	(0.79)	1.45	(2.00)	4.83
LABU	3.29	0.55	0.18	0.26	3.19	(3.46)	8.51	(5.74)	18.56
IQDG	0.61	0.01	0.00	0.09	0.65	(0.64)	1.15	(1.20)	2.67
SVOL	0.87	0.02	(0.03)	0.17	1.22	(1.04)	2.49	(1.46)	6.26
ECH	1.04	0.30	0.22	0.40	1.01	(1.24)	2.19	(1.48)	6.16
DSPY	0.56	0.02	(0.05)	0.24	0.79	(0.54)	1.04	(1.11)	2.93
ABFL	0.75	(0.02)	(0.07)	(0.02)	1.06	(0.71)	1.42	(1.88)	4.40

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