Materials Portfolio Correlations

FMFAX Fund

USD 102.08 0.80 0.79%

The current 90-days correlation between Materials Portfolio and Fidelity Freedom 2015 is 0.77 (i.e., Poor diversification). The correlation of Materials Portfolio 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.

Materials Portfolio Correlation With Market

Poor diversification

The correlation between Materials Portfolio Fidelity and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Materials Portfolio Fidelity 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 Materials Portfolio Fidelity. 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 nation.

Moving together with Materials Mutual Fund

0.61	FPTKX	Fidelity Freedom 2015	Pair Corr
0.78	FPURX	Fidelity Puritan	Pair Corr
0.78	FPUKX	Fidelity Puritan	Pair Corr
0.77	FQIFX	Fidelity Freedom Index	Pair Corr
0.94	FQIPX	Fidelity Freedom Index	Pair Corr
0.95	FQLSX	Fidelity Flex Freedom	Pair Corr
0.9	FRAGX	Aggressive Growth	Pair Corr
0.91	FRGAX	Growth Allocation Index	Pair Corr
0.94	FRLPX	Fidelity Freedom Index	Pair Corr
0.93	FAASX	Fidelity Asset Manager	Pair Corr
0.93	FAAIX	Fidelity Asset Manager	Pair Corr
0.88	FABLX	Fidelity Advisor Balanced	Pair Corr
0.88	FABCX	Fidelity Advisor Balanced	Pair Corr
0.62	FACVX	Fidelity Convertible	Pair Corr
0.86	FACNX	Fidelity Canada	Pair Corr
0.75	FACGX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRAGX	FRAMX
FPTKX		0.25	0.24	0.57	0.95	0.6	0.61	0.58	0.46	0.91	FPTKX
FPURX	0.25		1.0	-0.07	0.52	0.9	-0.51	0.89	0.96	-0.13	FPURX
FPUKX	0.24	1.0		-0.08	0.52	0.89	-0.51	0.89	0.96	-0.14	FPUKX
FPXTX	0.57	-0.07	-0.08		0.48	0.09	0.27	0.06	0.02	0.7	FPXTX
FQIFX	0.95	0.52	0.52	0.48		0.8	0.39	0.78	0.7	0.76	FQIFX
FQIPX	0.6	0.9	0.89	0.09	0.8		-0.09	1.0	0.98	0.23	FQIPX
FQITX	0.61	-0.51	-0.51	0.27	0.39	-0.09		-0.09	-0.27	0.75	FQITX
FQLSX	0.58	0.89	0.89	0.06	0.78	1.0	-0.09		0.98	0.2	FQLSX
FRAGX	0.46	0.96	0.96	0.02	0.7	0.98	-0.27	0.98		0.08	FRAGX
FRAMX	0.91	-0.13	-0.14	0.7	0.76	0.23	0.75	0.2	0.08		FRAMX
	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRAGX	FRAMX

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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

FPUKX	+ 1.0	FPURX
FQLSX	+ 1.0	FQIPX
FRAGX	+ 0.98	FQIPX
FRAGX	+ 0.98	FQLSX
FRAGX	+ 0.96	FPURX
FRAGX	+ 0.96	FPUKX

High negative correlations

FQITX	- 0.51	FPUKX
FQITX	- 0.51	FPURX
FRAGX	- 0.27	FQITX
FRAMX	- 0.14	FPUKX
FRAMX	- 0.13	FPURX
FQLSX	- 0.09	FQITX

Risk-Adjusted Indicators

There is a big difference between Materials Mutual Fund performing well and Materials Portfolio 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 Materials Portfolio'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
FPTKX	0.26	(0.03)	(0.34)	(0.01)	0.30	(0.31)	0.59	(0.59)	1.60
FPURX	0.41	0.00	(0.08)	0.12	0.44	(0.45)	0.99	(0.94)	2.82
FPUKX	0.41	0.00	(0.08)	0.12	0.45	(0.46)	1.03	(0.98)	2.79
FPXTX	0.13	0.01	(0.39)	0.00	0.17	(0.18)	0.29	(0.28)	1.24
FQIFX	0.32	(0.03)	(0.25)	0.03	0.38	(0.34)	0.68	(0.77)	1.82
FQIPX	0.50	(0.03)	(0.11)	0.07	0.60	(0.52)	1.10	(0.93)	3.01
FQITX	0.71	(0.18)	0.00	(0.23)	0.00	0.00	1.41	(1.66)	5.17
FQLSX	0.55	(0.04)	(0.10)	0.06	0.64	(0.60)	1.20	(1.02)	3.26
FRAGX	0.47	(0.02)	(0.10)	0.09	0.57	(0.51)	1.06	(0.87)	2.94
FRAMX	0.20	(0.03)	0.00	(0.09)	0.00	0.00	0.37	(0.32)	1.30

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