Materials Portfolio Correlations

FMFTX Fund

USD 87.21 1.04 1.21%

The current 90-days correlation between Materials Portfolio and Materials Portfolio Fidelity is 1.0 (i.e., No risk reduction). 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

Weak diversification

The correlation between Materials Portfolio Fidelity and DJI is 0.36 (i.e., Weak 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 estimate.

Moving together with Materials Mutual Fund

0.69	FPTKX	Fidelity Freedom 2015	Pair Corr
0.73	FQIFX	Fidelity Freedom Index	Pair Corr
0.73	FQLSX	Fidelity Flex Freedom	Pair Corr
0.61	FRAMX	Fidelity Income Repl	Pair Corr
0.95	FRESX	Fidelity Real Estate	Pair Corr
0.77	FRIFX	Fidelity Real Estate	Pair Corr
0.77	FRINX	Fidelity Real Estate	Pair Corr
0.78	FRIQX	Fidelity Real Estate	Pair Corr
0.78	FRIRX	Fidelity Real Estate	Pair Corr
0.61	FRQAX	Fidelity Income Repl	Pair Corr
0.83	FAASX	Fidelity Asset Manager	Pair Corr
0.83	FAAIX	Fidelity Asset Manager	Pair Corr
0.8	FACVX	Fidelity Convertible	Pair Corr
0.97	FACTX	Fidelity Advisor Health	Pair Corr
0.92	FACNX	Fidelity Canada	Pair Corr
0.62	FACFX	Fidelity Advisor Freedom	Pair Corr
0.97	FACDX	Fidelity Advisor Health	Pair Corr
0.67	FADTX	Fidelity Advisor Tec	Pair Corr
0.84	FADIX	Fidelity Advisor Div	Pair Corr
0.86	FADCX	Fidelity Advisor Div	Pair Corr
0.9	FADAX	Fidelity Advisor Dividend	Pair Corr
0.71	FAFSX	Fidelity Advisor Fin	Pair Corr

Moving against Materials Mutual Fund

0.37	FACGX	Fidelity Advisor Growth	Pair Corr
0.41	FAGCX	Fidelity Advisor Growth	Pair Corr
0.36	FAGAX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	FMFAX	FAGNX	FMFEX	FHETX	FMFCX
FMFAX		0.42	1.0	0.97	1.0	FMFAX
FAGNX	0.42		0.42	0.32	0.41	FAGNX
FMFEX	1.0	0.42		0.97	1.0	FMFEX
FHETX	0.97	0.32	0.97		0.97	FHETX
FMFCX	1.0	0.41	1.0	0.97		FMFCX
	FMFAX	FAGNX	FMFEX	FHETX	FMFCX

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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
FMFAX	0.82	(0.23)	0.00	(0.31)	0.00	0.00	1.36	(1.30)	9.28
FAGNX	0.85	(0.02)	(0.05)	0.02	1.18	(0.86)	1.38	(1.99)	6.15
FMFEX	0.83	(0.23)	0.00	(0.31)	0.00	0.00	1.37	(1.31)	9.25
FHETX	0.98	(0.14)	0.00	(0.49)	0.00	0.00	1.55	(2.03)	7.55
FMFCX	0.83	(0.24)	0.00	(0.32)	0.00	0.00	1.37	(1.32)	9.60

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