Fidelity Water Correlations

Mutual Funds USA . 
Fund . Fidelity Water Sustainability
FLOWX Fund  USD 18.55  0.12  0.64%   
The current 90-days correlation between Fidelity Water Susta and Materials Portfolio Fidelity is 0.09 (i.e., Significant diversification). The correlation of Fidelity Water 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 Water Correlation With Market

Poor diversification

The correlation between Fidelity Water Sustainability and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Water Sustainability 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 Water Sustainability. 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 housing.

Moving together with Fidelity Mutual Fund

  0.83FPURX Fidelity PuritanPairCorr
  0.83FPUKX Fidelity PuritanPairCorr
  0.65FQIFX Fidelity Freedom IndexPairCorr
  0.86FQIPX Fidelity Freedom IndexPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.87FRAGX Aggressive GrowthPairCorr
  0.95FRGAX Growth Allocation IndexPairCorr
  0.94FRLPX Fidelity Freedom IndexPairCorr
  0.86FAASX Fidelity Asset ManagerPairCorr
  0.87FAAIX Fidelity Asset ManagerPairCorr
  0.8FABLX Fidelity Advisor BalancedPairCorr
  0.8FABCX Fidelity Advisor BalancedPairCorr
  0.74FACVX Fidelity ConvertiblePairCorr
  0.79FACPX Fidelity Advisor SumerPairCorr
  0.91FACNX Fidelity CanadaPairCorr
  0.82FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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