Fidelity Series Correlations

Mutual Funds . USA . 
Fund . Fidelity Series Growth
FGLGX Fund  USD 24.26  0.09  0.37%   
The current 90-days correlation between Fidelity Series Growth and Ambrus Core Bond is -0.21 (i.e., Very good diversification). The correlation of Fidelity Series 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 Series Correlation With Market

Very poor diversification

The correlation between Fidelity Series Growth and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Growth 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 Series Growth. 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 price.

Moving together with Fidelity Mutual Fund

  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.83FQIPX Fidelity Freedom IndexPairCorr
  0.84FQLSX Fidelity Flex FreedomPairCorr
  0.92FRAGX Aggressive GrowthPairCorr
  0.87FRGAX Growth Allocation IndexPairCorr
  0.83FRLPX Fidelity Freedom IndexPairCorr
  0.74FRPCX Fidelity Sai AlternativePairCorr
  0.81FAASX Fidelity Asset ManagerPairCorr
  0.82FAAIX Fidelity Asset ManagerPairCorr
  0.83FABLX Fidelity Advisor BalancedPairCorr
  0.81FABCX Fidelity Advisor BalancedPairCorr
  0.97FACVX Fidelity ConvertiblePairCorr
  0.89FACPX Fidelity Advisor SumerPairCorr
  0.89FACNX Fidelity CanadaPairCorr
  0.98FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.63FQITX Fidelity Salem StreetPairCorr
  0.35FROGX Fidelity Municipal IncomePairCorr
  0.33FRAMX Fidelity Income ReplPairCorr
  0.31FRIMX Fidelity Income ReplPairCorr
  0.31FRKMX Fidelity Managed RetPairCorr
  0.31FRQAX Fidelity Income ReplPairCorr
  0.56FAERX Fidelity Advisor OverseasPairCorr
  0.37FADCX Fidelity Advisor DivPairCorr
  0.37FAFAX Fidelity Advisor FreedomPairCorr
  0.36FADIX Fidelity Advisor DivPairCorr
  0.35FACTX Fidelity Advisor HealthPairCorr
  0.34FACDX Fidelity Advisor HealthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Series 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 Series' 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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