Fidelity Sustainable Correlations

FIAEX Fund

USD 9.41 0.01 0.11%

The current 90-days correlation between Fidelity Sustainable Core and Fidelity Sustainable Low is 0.42 (i.e., Very weak diversification). The correlation of Fidelity Sustainable 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 Sustainable Correlation With Market

Significant diversification

The correlation between Fidelity Sustainable Core and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sustainable Core 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 Sustainable Core. 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 american community survey.

Moving together with Fidelity Mutual Fund

0.64	FRAMX	Fidelity Income Repl	Pair Corr
0.61	FRASX	Fidelity Income Repl	Pair Corr

Related Correlations Analysis

	FAPGX	FFEBX	FGBFX	JLGAX	VAGIX	TRARX	FYMRX	PVFAX	FLRYX	LOGSX
FAPGX		0.15	0.84	0.13	0.69	0.7	0.37	0.08	0.69	0.84	FAPGX
FFEBX	0.15		0.2	0.23	0.61	0.21	0.23	0.26	-0.08	0.2	FFEBX
FGBFX	0.84	0.2		-0.09	0.81	0.4	0.11	-0.09	0.45	0.89	FGBFX
JLGAX	0.13	0.23	-0.09		0.09	0.64	0.76	0.25	0.32	0.02	JLGAX
VAGIX	0.69	0.61	0.81	0.09		0.43	0.18	-0.01	0.32	0.73	VAGIX
TRARX	0.7	0.21	0.4	0.64	0.43		0.71	0.21	0.83	0.57	TRARX
FYMRX	0.37	0.23	0.11	0.76	0.18	0.71		0.66	0.49	0.32	FYMRX
PVFAX	0.08	0.26	-0.09	0.25	-0.01	0.21	0.66		0.05	0.03	PVFAX
FLRYX	0.69	-0.08	0.45	0.32	0.32	0.83	0.49	0.05		0.57	FLRYX
LOGSX	0.84	0.2	0.89	0.02	0.73	0.57	0.32	0.03	0.57		LOGSX
	FAPGX	FFEBX	FGBFX	JLGAX	VAGIX	TRARX	FYMRX	PVFAX	FLRYX	LOGSX

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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

LOGSX	+ 0.89	FGBFX
FGBFX	+ 0.84	FAPGX
LOGSX	+ 0.84	FAPGX
FLRYX	+ 0.83	TRARX
VAGIX	+ 0.81	FGBFX
FYMRX	+ 0.76	JLGAX

High negative correlations

PVFAX	- 0.09	FGBFX
JLGAX	- 0.09	FGBFX
FLRYX	- 0.08	FFEBX
PVFAX	- 0.01	VAGIX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Sustainable 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 Sustainable'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
FAPGX	0.04	0.00	0.00	(0.57)	0.00	0.00	0.10	(0.10)	0.39
FFEBX	0.16	(0.01)	(0.26)	(0.34)	0.18	(0.20)	0.35	(0.35)	0.81
FGBFX	0.12	0.03	(0.17)	(0.50)	0.00	(0.23)	0.25	(0.24)	0.97
JLGAX	0.90	(0.02)	(0.01)	0.04	1.30	(0.88)	1.82	(2.21)	5.48
VAGIX	0.14	0.02	(0.23)	(0.71)	0.00	(0.19)	0.31	(0.23)	0.84
TRARX	0.18	0.00	(0.14)	0.05	0.16	(0.22)	0.44	(0.35)	1.13
FYMRX	0.51	(0.05)	(0.06)	(0.01)	0.99	(0.43)	0.91	(1.18)	4.93
PVFAX	1.20	(0.31)	0.00	(0.16)	0.00	0.00	1.91	(3.18)	21.97
FLRYX	0.70	0.10	0.09	0.16	0.81	(0.70)	1.45	(1.37)	7.87
LOGSX	0.60	0.11	0.11	0.24	0.60	(0.68)	1.39	(1.14)	4.58

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