Fidelity MSCI Correlations

FNCL Etf

USD 71.68 0.96 1.36%

The current 90-days correlation between Fidelity MSCI Financials and Fidelity MSCI Industrials is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity MSCI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity MSCI Financials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity MSCI Correlation With Market

Very poor diversification

The correlation between Fidelity MSCI Financials and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Financials 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 MSCI Financials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Fidelity Etf

1.0	XLF	Financial Select Sector	Pair Corr
1.0	VFH	Vanguard Financials Index	Pair Corr
0.97	KRE	SPDR SP Regional	Pair Corr
0.97	KBE	SPDR SP Bank	Pair Corr
1.0	IYF	iShares Financials ETF	Pair Corr
1.0	IYG	iShares Financial	Pair Corr
0.99	FXO	First Trust Financials	Pair Corr
0.98	IAT	iShares Regional Banks	Pair Corr
0.88	PULS	PGIM Ultra Short	Pair Corr
0.64	MPAY	Akros Monthly Payout	Pair Corr
0.91	BUFF	Innovator Laddered	Pair Corr
0.89	SPY	SPDR SP 500	Pair Corr
0.86	PPA	Invesco Aerospace Defense	Pair Corr
0.78	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.65	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.85	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.71	T	ATT Inc Aggressive Push	Pair Corr
0.82	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.9	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against Fidelity Etf

0.94	BITI	ProShares Trust	Pair Corr
0.62	GREI	Goldman Sachs Future	Pair Corr
0.84	KO	Coca Cola Aggressive Push	Pair Corr
0.77	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.73	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.47	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FIDU	FHLC	FMAT	FSTA	FDIS
FIDU		-0.6	0.8	-0.29	0.91	FIDU
FHLC	-0.6		-0.21	0.59	-0.73	FHLC
FMAT	0.8	-0.21		-0.07	0.57	FMAT
FSTA	-0.29	0.59	-0.07		-0.26	FSTA
FDIS	0.91	-0.73	0.57	-0.26		FDIS
	FIDU	FHLC	FMAT	FSTA	FDIS

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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

FDIS	+ 0.91	FIDU
FMAT	+ 0.8	FIDU
FSTA	+ 0.59	FHLC
FDIS	+ 0.57	FMAT

High negative correlations

FDIS	- 0.73	FHLC
FHLC	- 0.6	FIDU
FSTA	- 0.29	FIDU
FDIS	- 0.26	FSTA
FMAT	- 0.21	FHLC
FSTA	- 0.07	FMAT

Fidelity MSCI Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity MSCI ETF 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 MSCI'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
FIDU	0.67	0.04	0.06	0.12	0.60	(0.76)	1.77	(1.16)	5.82
FHLC	0.55	(0.16)	0.00	(0.19)	0.00	0.00	0.83	(1.17)	3.13
FMAT	0.72	(0.02)	(0.03)	0.07	0.76	(0.78)	1.74	(1.17)	4.28
FSTA	0.45	0.00	(0.14)	0.05	0.54	(0.45)	0.74	(0.91)	2.12
FDIS	0.90	0.11	0.11	0.18	0.83	(1.06)	2.18	(1.56)	4.67

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