Fidelity Series Correlations

FHKFX Fund

USD 8.80 0.01 0.11%

The current 90-days correlation between Fidelity Series Emerging and Fidelity New Markets is 0.37 (i.e., Weak 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

Weak diversification

The correlation between Fidelity Series Emerging and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Emerging 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 Emerging. 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 census.

Moving together with Fidelity Mutual Fund

0.75	FAOAX	Fidelity Advisor Overseas	Pair Corr
0.82	FSPSX	Fidelity International	Pair Corr
0.92	FBTTX	Fidelity Advisor Bio	Pair Corr
0.7	FDAGX	Consumer Staples Por	Pair Corr
0.65	FEQTX	Fidelity Equity Dividend	Pair Corr
0.81	FWRCX	Fidelity Advisor Global	Pair Corr
0.78	FGDIX	Fidelity Advisor Gold	Pair Corr
0.75	FHCCX	Fidelity Advisor Health	Pair Corr
0.82	FZABX	Fidelity Advisor Div	Pair Corr
0.98	FZEMX	Fidelity Investment Trust	Pair Corr

Moving against Fidelity Mutual Fund

0.87	FSAWX	Fidelity Sai Convertible	Pair Corr
0.78	FUEMX	Fidelity Flex Servative	Pair Corr
0.69	FSAHX	Fidelity Short Duration	Pair Corr
0.51	FTF	Franklin Templeton	Pair Corr
0.48	FAGIX	Fidelity Capital Income	Pair Corr
0.41	FSLEX	Environment And Alte	Pair Corr
0.33	FSKAX	Fidelity Total Market	Pair Corr
0.32	FSMAX	Fidelity Extended Market	Pair Corr
0.46	FIFGX	Fidelity Sai Inflati	Pair Corr
0.32	FXAIX	Fidelity 500 Index	Pair Corr

Related Correlations Analysis

	FGVMX	FYMIX	FGYMX	FYMMX	FYMRX	FPTKX	FGZMX	FYLSX	FYMAX
FGVMX		0.74	1.0	0.74	0.74	0.72	1.0	0.69	0.76	FGVMX
FYMIX	0.74		0.77	1.0	1.0	0.87	0.71	0.86	0.88	FYMIX
FGYMX	1.0	0.77		0.77	0.77	0.77	0.99	0.72	0.8	FGYMX
FYMMX	0.74	1.0	0.77		1.0	0.88	0.71	0.86	0.89	FYMMX
FYMRX	0.74	1.0	0.77	1.0		0.87	0.71	0.86	0.88	FYMRX
FPTKX	0.72	0.87	0.77	0.88	0.87		0.7	0.97	0.97	FPTKX
FGZMX	1.0	0.71	0.99	0.71	0.71	0.7		0.66	0.74	FGZMX
FYLSX	0.69	0.86	0.72	0.86	0.86	0.97	0.66		0.97	FYLSX
FYMAX	0.76	0.88	0.8	0.89	0.88	0.97	0.74	0.97		FYMAX
	FGVMX	FYMIX	FGYMX	FYMMX	FYMRX	FPTKX	FGZMX	FYLSX	FYMAX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FGVMX	0.24	(0.01)	0.00	(0.18)	0.00	0.00	0.47	(0.47)	1.97
FYMIX	0.44	(0.02)	0.00	(0.15)	0.00	0.00	0.97	(0.96)	3.32
FGYMX	0.25	(0.02)	0.00	(0.22)	0.00	0.00	0.47	(0.47)	1.97
FYMMX	0.44	(0.02)	0.00	(0.15)	0.00	0.00	0.97	(0.86)	3.32
FYMRX	0.44	(0.02)	0.00	(0.15)	0.00	0.00	0.97	(0.96)	3.32
FPTKX	0.29	(0.03)	0.00	(0.11)	0.00	0.00	0.70	(0.69)	2.08
FGZMX	0.26	(0.01)	(0.13)	(0.17)	0.33	(0.28)	0.47	(0.48)	2.05
FYLSX	0.53	(0.02)	(0.05)	(0.02)	0.82	(0.55)	1.13	(1.36)	3.75
FYMAX	0.43	(0.02)	(0.06)	(0.02)	0.65	(0.44)	0.87	(0.94)	3.32

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