Fidelity Growth Correlations

Mutual Funds . USA . 
Fund . Fidelity Growth Income
FGRIX Fund  USD 71.83  1.57  2.23%   
The current 90-days correlation between Fidelity Growth Income and Fidelity Freedom 2070 is 0.91 (i.e., Almost no diversification). The correlation of Fidelity Growth 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 Growth Correlation With Market

Almost no diversification

The correlation between Fidelity Growth Income and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Growth Income 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 Growth Income. 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

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.85FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.97FQITX Fidelity Salem StreetPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.98FRBDX Fidelity Freedom 2070PairCorr
  0.98FRBEX Fidelity Freedom 2070PairCorr
  0.98FRBHX Fidelity Freedom 2070PairCorr
  0.98FRBJX Fidelity Advisor FreedomPairCorr
  0.98FRBKX Fidelity Advisor FreedomPairCorr
  0.98FRBLX Fidelity Advisor FreedomPairCorr
  0.98FRBNX Fidelity Advisor FreedomPairCorr
  0.98FRBOX Fidelity Advisor FreedomPairCorr
  0.98FRBPX Fidelity Advisor FreedomPairCorr
  0.98FRBQX Fidelity Flex FreedomPairCorr
  0.98FRBUX Fidelity Freedom IndexPairCorr
  0.98FRBVX Fidelity Freedom IndexPairCorr
  0.98FRBWX Fidelity Freedom IndexPairCorr
  0.98FRBYX Fidelity Freedom BlendPairCorr
  0.98FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.98FRASX Fidelity Income ReplPairCorr
  0.95FRCFX Fidelity Freedom BlendPairCorr
  0.98FRCHX Fidelity Freedom BlendPairCorr
  0.98FRCJX Fidelity Freedom BlendPairCorr
  0.98FRCKX Fidelity Freedom BlendPairCorr
  0.98FRCLX Fidelity Freedom BlendPairCorr
  0.98FRCNX Fidelity Freedom BlendPairCorr
  0.98FRCPX Fidelity Freedom BlendPairCorr
  0.84FRCQX Fidelity SustainablePairCorr
  0.98FRCRX Fidelity SustainablePairCorr
  0.98FRCVX Fidelity SustainablePairCorr
  0.98FRCWX Fidelity SustainablePairCorr
  0.97FRCYX Fidelity SustainablePairCorr
  0.97FRDCX Fidelity SustainablePairCorr
  0.74FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between FIDELITY Mutual Fund performing well and Fidelity Growth 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 Growth'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.26  0.05 (0.03) 0.25  0.10 
(0.32)
 0.52 
(0.51)
 2.69 
FPURX  0.50  0.02 (0.02) 0.11  0.55 
(0.51)
 1.27 
(1.12)
 3.79 
FPUKX  0.50  0.02 (0.02) 0.11  0.57 
(0.54)
 1.31 
(1.16)
 3.76 
FPXTX  0.07  0.01 (0.47)(1.08) 0.00 
(0.13)
 0.19 
(0.10)
 0.66 
FQIFX  0.31  0.00 (0.11) 0.08  0.32 
(0.38)
 0.69 
(0.69)
 1.77 
FQIPX  0.52  0.00 (0.03) 0.08  0.62 
(0.52)
 1.00 
(1.11)
 2.77 
FQITX  0.70  0.02  0.01  0.11  0.82 
(0.72)
 1.55 
(1.38)
 3.78 
FQLSX  0.55  0.04  0.02  0.14  0.61 
(0.56)
 1.07 
(1.14)
 2.69 
FRBDX  0.56  0.04  0.02  0.14  0.67 
(0.57)
 1.04 
(1.25)
 2.84 
FRBEX  0.56  0.04  0.02  0.14  0.67 
(0.57)
 1.04 
(1.25)
 2.80 

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