Fidelity Series Correlations

FHOFX Fund

USD 25.26 0.23 0.92%

The current 90-days correlation between Fidelity Series Large and Lord Abbett Growth is 0.05 (i.e., Significant 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

Poor diversification

The correlation between Fidelity Series Large and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Large 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 Large. 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

0.94	FPURX	Fidelity Puritan	Pair Corr
0.81	FABLX	Fidelity Advisor Balanced	Pair Corr
0.8	FABCX	Fidelity Advisor Balanced	Pair Corr
0.93	FACVX	Fidelity Convertible	Pair Corr
0.99	FACGX	Fidelity Advisor Growth	Pair Corr
0.97	FAGKX	Fidelity Growth Stra	Pair Corr
0.94	FAGIX	Fidelity Capital Income	Pair Corr
0.95	FAHYX	Fidelity Advisor High	Pair Corr
0.81	FAIOX	Fidelity Advisor Balanced	Pair Corr
0.88	FSAWX	Fidelity Sai Convertible	Pair Corr
0.65	FSCRX	Fidelity Small Cap	Pair Corr
0.88	FSCSX	Software And It	Pair Corr
0.82	FSEHX	Fidelity Short Duration	Pair Corr
0.85	FSELX	Fidelity Select Semi	Pair Corr
0.73	FSEAX	Fidelity Emerging Asia	Pair Corr
0.8	FSLEX	Environment And Alte	Pair Corr
0.86	FSLSX	Fidelity Advisor Value	Pair Corr
0.95	FSKAX	Fidelity Total Market	Pair Corr
0.67	FSNUX	Fidelity Freedom 2035	Pair Corr
0.78	FSNVX	Fidelity Freedom 2040	Pair Corr
0.91	FSLVX	Fidelity Stock Selector	Pair Corr
0.92	FSMAX	Fidelity Extended Market	Pair Corr
0.93	FSMDX	Fidelity Mid Cap	Pair Corr

Moving against Fidelity Mutual Fund

0.76	FSIGX	Fidelity Series Inve	Pair Corr
0.33	FAFAX	Fidelity Advisor Freedom	Pair Corr
0.58	FSPSX	Fidelity International	Pair Corr

Related Correlations Analysis

	LGLFX	FAGCX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
LGLFX		0.94	0.0	0.53	0.58	0.63	0.54	0.63	0.64	LGLFX
FAGCX	0.94		0.0	0.72	0.61	0.45	0.61	0.42	0.61	FAGCX
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.53	0.72	0.0		0.67	-0.11	0.81	-0.02	0.15	MSTSX
LBHIX	0.58	0.61	0.0	0.67		0.19	0.71	0.27	0.09	LBHIX
VIASP	0.63	0.45	0.0	-0.11	0.19		-0.01	0.79	0.53	VIASP
RRTLX	0.54	0.61	0.0	0.81	0.71	-0.01		0.05	0.01	RRTLX
OSHDF	0.63	0.42	0.0	-0.02	0.27	0.79	0.05		0.35	OSHDF
70082LAB3	0.64	0.61	0.0	0.15	0.09	0.53	0.01	0.35		70082LAB3
	LGLFX	FAGCX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

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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

FAGCX	+ 0.94	LGLFX
RRTLX	+ 0.81	MSTSX
OSHDF	+ 0.79	VIASP
MSTSX	+ 0.72	FAGCX
RRTLX	+ 0.71	LBHIX
LBHIX	+ 0.67	MSTSX

High negative correlations

VIASP	- 0.11	MSTSX
OSHDF	- 0.02	MSTSX
RRTLX	- 0.01	VIASP
70082LAB3	- 0.0	AQUI
OSHDF	- 0.0	AQUI
RRTLX	- 0.0	AQUI

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
LGLFX	0.91	0.25	0.10	2.42	1.07	(0.95)	2.65	(1.70)	5.60
FAGCX	0.81	0.01	0.01	0.13	1.22	(0.76)	1.67	(2.15)	5.94
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.48	(0.05)	(0.15)	0.04	0.53	(0.58)	1.03	(1.02)	2.80
LBHIX	0.11	0.01	(0.40)	0.46	0.00	(0.29)	0.24	(0.24)	0.96
VIASP	0.74	0.08	(0.03)	(2.22)	1.13	(0.80)	2.28	(1.20)	7.18
RRTLX	0.24	0.01	(0.30)	0.50	0.24	(0.27)	0.56	(0.56)	1.37
OSHDF	39.65	22.61	0.00	(0.96)	0.00	0.00	0.00	0.00	1,329
70082LAB3	1.00	0.03	(0.04)	1.56	2.25	(1.07)	1.75	(1.69)	24.27

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