Fidelity Telecom Correlations

Mutual Funds . USA . 
Fund . Fidelity Telecom And
FIUIX Fund  USD 34.93  0.29  0.84%   
The current 90-days correlation between Fidelity Telecom And and Janus High Yield Fund is -0.01 (i.e., Good diversification). The correlation of Fidelity Telecom 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 Telecom Correlation With Market

Very good diversification

The correlation between Fidelity Telecom And and DJI is -0.47 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Telecom And 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 Telecom And. 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 against Fidelity Mutual Fund

  0.42FPURX Fidelity PuritanPairCorr
  0.42FQITX Fidelity Salem StreetPairCorr
  0.41FRBDX Fidelity Freedom 2070PairCorr
  0.41FRBLX Fidelity Advisor FreedomPairCorr
  0.41FRBNX Fidelity Advisor FreedomPairCorr
  0.41FRBOX Fidelity Advisor FreedomPairCorr
  0.41FRBPX Fidelity Advisor FreedomPairCorr
  0.35FPUKX Fidelity PuritanPairCorr
  0.33FQIFX Fidelity Freedom IndexPairCorr
  0.31FQLSX Fidelity Flex FreedomPairCorr
  0.42FRCJX Fidelity Freedom BlendPairCorr
  0.42FRCKX Fidelity Freedom BlendPairCorr
  0.41FRBQX Fidelity Flex FreedomPairCorr
  0.41FRBUX Fidelity Freedom IndexPairCorr
  0.41FRCNX Fidelity Freedom BlendPairCorr
  0.41FRCPX Fidelity Freedom BlendPairCorr
  0.41FRCQX Fidelity SustainablePairCorr
  0.4FRCLX Fidelity Freedom BlendPairCorr
  0.31FRAGX Aggressive GrowthPairCorr
  0.41FRCRX Fidelity SustainablePairCorr
  0.41FRCVX Fidelity SustainablePairCorr
  0.4FRCYX Fidelity SustainablePairCorr
  0.4FRDCX Fidelity SustainablePairCorr
  0.4FRDDX Fidelity SustainablePairCorr
  0.36FRKMX Fidelity Managed RetPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Telecom 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 Telecom'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.

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