Fidelity Leveraged Correlations

Mutual Funds . USA . 
Fund . Fidelity Leveraged Pany
FLCKX Fund  USD 40.77  0.84  2.10%   
The current 90-days correlation between Fidelity Leveraged Pany and Gmo Global Equity is 0.31 (i.e., Weak diversification). The correlation of Fidelity Leveraged 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 Leveraged Correlation With Market

Modest diversification

The correlation between Fidelity Leveraged Pany and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Leveraged Pany 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 Leveraged Pany. 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 industry.

Moving together with Fidelity Mutual Fund

  0.76FPTKX Fidelity Freedom 2015PairCorr
  0.91FPURX Fidelity PuritanPairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.66FPXTX Fidelity PennsylvaniaPairCorr
  0.78FQIFX Fidelity Freedom IndexPairCorr
  0.83FQIPX Fidelity Freedom IndexPairCorr
  0.83FQLSX Fidelity Flex FreedomPairCorr
  0.84FRAGX Aggressive GrowthPairCorr
  0.74FRAMX Fidelity Income ReplPairCorr
  0.77FRASX Fidelity Income ReplPairCorr
  0.84FRGAX Growth Allocation IndexPairCorr
  0.63FRIFX Fidelity Real EstatePairCorr
  0.74FRIMX Fidelity Income ReplPairCorr
  0.62FRINX Fidelity Real EstatePairCorr
  0.62FRIQX Fidelity Real EstatePairCorr
  0.75FRHMX Fidelity Managed RetPairCorr
  0.75FRKMX Fidelity Managed RetPairCorr
  0.62FRIRX Fidelity Real EstatePairCorr
  0.83FRLPX Fidelity Freedom IndexPairCorr
  0.66FROGX Fidelity Municipal IncomePairCorr
  0.75FRQHX Fidelity Managed RetPairCorr
  0.75FRQIX Fidelity Income ReplPairCorr
  0.75FRQKX Fidelity Managed RetPairCorr
  0.74FRQAX Fidelity Income ReplPairCorr
  0.73FAASX Fidelity Asset ManagerPairCorr
  0.73FAAIX Fidelity Asset ManagerPairCorr
  0.83FACVX Fidelity ConvertiblePairCorr
  0.7FACPX Fidelity Advisor SumerPairCorr
  0.67FACFX Fidelity Advisor FreedomPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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