Fidelity New Correlations

FGYMX Fund

USD 12.69 0.01 0.08%

The current 90-days correlation between Fidelity New Markets and Ridgeworth Seix Government is 0.22 (i.e., Modest diversification). The correlation of Fidelity New 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 New Correlation With Market

Average diversification

The correlation between Fidelity New Markets and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity New Markets 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 New Markets. 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 population.

Moving together with Fidelity Mutual Fund

0.78	FPTKX	Fidelity Freedom 2015	Pair Corr
0.78	FPURX	Fidelity Puritan	Pair Corr
0.78	FPUKX	Fidelity Puritan	Pair Corr
0.83	FPXTX	Fidelity Pennsylvania	Pair Corr
0.77	FQIFX	Fidelity Freedom Index	Pair Corr
0.83	FQIPX	Fidelity Freedom Index	Pair Corr
0.73	FQLSX	Fidelity Flex Freedom	Pair Corr
0.81	FRAGX	Aggressive Growth	Pair Corr
0.8	FRAMX	Fidelity Income Repl	Pair Corr
0.81	FRASX	Fidelity Income Repl	Pair Corr
0.83	FRGAX	Growth Allocation Index	Pair Corr
0.81	FRIMX	Fidelity Income Repl	Pair Corr
0.82	FRHMX	Fidelity Managed Ret	Pair Corr
0.82	FRKMX	Fidelity Managed Ret	Pair Corr
0.83	FRLPX	Fidelity Freedom Index	Pair Corr
0.85	FROGX	Fidelity Municipal Income	Pair Corr
0.82	FRQHX	Fidelity Managed Ret	Pair Corr
0.81	FRQIX	Fidelity Income Repl	Pair Corr
0.81	FRQKX	Fidelity Managed Ret	Pair Corr
0.8	FRQAX	Fidelity Income Repl	Pair Corr
0.68	FAASX	Fidelity Asset Manager	Pair Corr
0.68	FAAIX	Fidelity Asset Manager	Pair Corr
0.62	FACVX	Fidelity Vertible	Pair Corr
0.61	FACPX	Fidelity Advisor Sumer	Pair Corr
0.77	FACFX	Fidelity Advisor Freedom	Pair Corr
0.61	FADTX	Fidelity Advisor Tec	Pair Corr

Related Correlations Analysis

	SIGVX	DVPXX	SWGXX	PYUSX	VSBSX	IVMXX	LCCXX
SIGVX		0.64	0.7	0.41	0.76	0.0	0.0	SIGVX
DVPXX	0.64		0.22	-0.09	0.13	0.0	0.0	DVPXX
SWGXX	0.7	0.22		0.21	0.68	0.0	0.0	SWGXX
PYUSX	0.41	-0.09	0.21		0.72	0.0	0.0	PYUSX
VSBSX	0.76	0.13	0.68	0.72		0.0	0.0	VSBSX
IVMXX	0.0	0.0	0.0	0.0	0.0		0.0	IVMXX
LCCXX	0.0	0.0	0.0	0.0	0.0	0.0		LCCXX
	SIGVX	DVPXX	SWGXX	PYUSX	VSBSX	IVMXX	LCCXX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VSBSX	+ 0.76	SIGVX
VSBSX	+ 0.72	PYUSX
SWGXX	+ 0.7	SIGVX
VSBSX	+ 0.68	SWGXX
DVPXX	+ 0.64	SIGVX
PYUSX	+ 0.41	SIGVX

High negative correlations

PYUSX	- 0.09	DVPXX
LCCXX	- 0.0	IVMXX
LCCXX	- 0.0	VSBSX
IVMXX	- 0.0	VSBSX
LCCXX	- 0.0	PYUSX
IVMXX	- 0.0	PYUSX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity New 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 New'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
SIGVX	0.06	0.01	(0.09)	3.48	0.00	(0.20)	0.10	(0.10)	0.61
DVPXX	0.03	0.01	0.00	(0.96)	0.00	0.00	0.00	0.00	1.01
SWGXX	0.03	0.01	0.00	(0.24)	0.00	0.00	0.00	0.00	1.01
PYUSX	0.11	(0.01)	(0.17)	(0.38)	0.13	(0.18)	0.32	(0.21)	0.75
VSBSX	0.06	0.00	(0.23)	(0.28)	0.00	(0.09)	0.16	(0.10)	0.41
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LCCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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