Fmasx Correlations

FMASX Fund

14.80 0.09 0.61%

The current 90-days correlation between Fmasx and Grayscale Bitcoin Mini is 0.13 (i.e., Average diversification). The correlation of Fmasx 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.

Fmasx Correlation With Market

Poor diversification

The correlation between Fmasx and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fmasx 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 Fmasx. 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 main economic indicators.

Moving together with Fmasx Mutual Fund

0.65	FPURX	Fidelity Puritan	Pair Corr
0.65	FPUKX	Fidelity Puritan	Pair Corr
0.61	FQIPX	Fidelity Freedom Index	Pair Corr
0.63	FQITX	Fidelity Salem Street	Pair Corr
0.61	FRBDX	Fidelity Freedom 2070	Pair Corr
0.61	FRBEX	Fidelity Freedom 2070	Pair Corr
0.63	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.63	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.63	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.63	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.63	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.62	FRBQX	Fidelity Flex Freedom	Pair Corr
0.65	FRBUX	Fidelity Freedom Index	Pair Corr
0.65	FRBVX	Fidelity Freedom Index	Pair Corr
0.66	FRBWX	Fidelity Freedom Index	Pair Corr
0.63	FRBYX	Fidelity Freedom Blend	Pair Corr
0.63	FRBZX	Fidelity Freedom Blend	Pair Corr
0.65	FRAGX	Aggressive Growth	Pair Corr
0.63	FRCFX	Fidelity Freedom Blend	Pair Corr
0.63	FRCKX	Fidelity Freedom Blend	Pair Corr
0.62	FRCLX	Fidelity Freedom Blend	Pair Corr
0.63	FRCNX	Fidelity Freedom Blend	Pair Corr
0.63	FRCPX	Fidelity Freedom Blend	Pair Corr
0.66	FRCQX	Fidelity Sustainable	Pair Corr
0.66	FRCRX	Fidelity Sustainable	Pair Corr
0.62	FRCVX	Fidelity Sustainable	Pair Corr
0.66	FRCWX	Fidelity Sustainable	Pair Corr
0.62	FRCYX	Fidelity Sustainable	Pair Corr
0.66	FRDCX	Fidelity Sustainable	Pair Corr
0.66	FRDDX	Fidelity Sustainable	Pair Corr

Related Correlations Analysis

	FDCAX	JGLO	BOND	FCNYX	VCSAX	FASIX	QQQI	FIFGX	BTC
FDCAX		0.97	0.68	0.85	0.66	0.9	0.75	0.75	-0.29	FDCAX
JGLO	0.97		0.77	0.9	0.73	0.95	0.65	0.77	-0.42	JGLO
BOND	0.68	0.77		0.82	0.87	0.91	0.15	0.78	-0.72	BOND
FCNYX	0.85	0.9	0.82		0.86	0.94	0.37	0.79	-0.63	FCNYX
VCSAX	0.66	0.73	0.87	0.86		0.87	0.07	0.86	-0.83	VCSAX
FASIX	0.9	0.95	0.91	0.94	0.87		0.44	0.87	-0.64	FASIX
QQQI	0.75	0.65	0.15	0.37	0.07	0.44		0.24	0.25	QQQI
FIFGX	0.75	0.77	0.78	0.79	0.86	0.87	0.24		-0.64	FIFGX
BTC	-0.29	-0.42	-0.72	-0.63	-0.83	-0.64	0.25	-0.64		BTC
	FDCAX	JGLO	BOND	FCNYX	VCSAX	FASIX	QQQI	FIFGX	BTC

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

JGLO	+ 0.97	FDCAX
FASIX	+ 0.95	JGLO
FASIX	+ 0.94	FCNYX
FASIX	+ 0.91	BOND
FASIX	+ 0.9	FDCAX
FCNYX	+ 0.9	JGLO

High negative correlations

BTC	- 0.83	VCSAX
BTC	- 0.72	BOND
BTC	- 0.64	FIFGX
BTC	- 0.64	FASIX
BTC	- 0.63	FCNYX
BTC	- 0.42	JGLO

Risk-Adjusted Indicators

There is a big difference between Fmasx Mutual Fund performing well and Fmasx 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 Fmasx'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
FDCAX	0.69	0.04	0.03	0.11	0.87	(0.70)	1.14	(1.58)	3.82
JGLO	0.48	0.01	(0.01)	0.08	0.57	(0.46)	0.80	(0.85)	3.30
BOND	0.14	0.03	(0.21)	1.02	0.00	(0.17)	0.34	(0.28)	0.69
FCNYX	0.03	0.01	0.00	0.77	0.00	0.00	0.10	0.00	0.40
VCSAX	0.63	0.21	0.24	1.86	0.25	(0.75)	1.43	(0.92)	3.65
FASIX	0.16	0.03	(0.09)	0.24	0.00	(0.21)	0.35	(0.34)	0.91
QQQI	0.66	(0.03)	(0.05)	0.02	0.96	(0.61)	1.21	(1.70)	4.33
FIFGX	1.00	0.16	0.07	2.87	1.18	(1.05)	1.75	(1.68)	6.34
BTC	2.49	(0.59)	0.00	(0.29)	0.00	0.00	5.26	(5.78)	19.78

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