Fidelity Infrastructure Correlations

Mutual Funds . USA . 
Fund . Fidelity Infrastructure
FNSTX Fund  USD 18.24  0.28  1.56%   
The current 90-days correlation between Fidelity Infrastructure and Monetta Fund Monetta is -0.03 (i.e., Good diversification). The correlation of Fidelity Infrastructure 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 Infrastructure Correlation With Market

Very weak diversification

The correlation between Fidelity Infrastructure and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Infrastructure 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 Infrastructure. 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 persons.

Moving together with Fidelity Mutual Fund

  0.65FPTKX Fidelity Freedom 2015PairCorr
  0.71FPXTX Fidelity PennsylvaniaPairCorr
  0.71FQIFX Fidelity Freedom IndexPairCorr
  0.66FQIPX Fidelity Freedom IndexPairCorr
  0.66FQITX Fidelity Salem StreetPairCorr
  0.66FQLSX Fidelity Flex FreedomPairCorr
  0.73FRBDX Fidelity Freedom 2070PairCorr
  0.66FRBEX Fidelity Freedom 2070PairCorr
  0.73FRBHX Fidelity Freedom 2070PairCorr
  0.73FRBJX Fidelity Advisor FreedomPairCorr
  0.66FRBKX Fidelity Advisor FreedomPairCorr
  0.73FRBLX Fidelity Advisor FreedomPairCorr
  0.73FRBNX Fidelity Advisor FreedomPairCorr
  0.73FRBOX Fidelity Advisor FreedomPairCorr
  0.73FRBPX Fidelity Advisor FreedomPairCorr
  0.67FRBQX Fidelity Flex FreedomPairCorr
  0.75FRBUX Fidelity Freedom IndexPairCorr
  0.68FRBVX Fidelity Freedom IndexPairCorr
  0.66FRBWX Fidelity Freedom IndexPairCorr
  0.63FRBYX Fidelity Freedom BlendPairCorr
  0.73FRBZX Fidelity Freedom BlendPairCorr
  0.64FRAGX Aggressive GrowthPairCorr
  0.78FRAMX Fidelity Income ReplPairCorr
  0.67FRASX Fidelity Income ReplPairCorr
  0.66FRCFX Fidelity Freedom BlendPairCorr
  0.74FRCHX Fidelity Freedom BlendPairCorr
  0.74FRCJX Fidelity Freedom BlendPairCorr
  0.63FRCKX Fidelity Freedom BlendPairCorr
  0.73FRCLX Fidelity Freedom BlendPairCorr
  0.73FRCNX Fidelity Freedom BlendPairCorr
  0.73FRCPX Fidelity Freedom BlendPairCorr
  0.74FRCQX Fidelity SustainablePairCorr
  0.75FRCRX Fidelity SustainablePairCorr
  0.67FRCVX Fidelity SustainablePairCorr
  0.74FRCWX Fidelity SustainablePairCorr
  0.74FRCYX Fidelity SustainablePairCorr
  0.75FRDCX Fidelity SustainablePairCorr
  0.74FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


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

UMPSX
+ 0.98
VILLX
ICMBX
+ 0.96
VILLX
ICMBX
+ 0.94
UMPSX
CEE
+ 0.93
IEYAX
CEE
+ 0.92
VILLX
BVEIX
+ 0.92
VILLX
  

High negative correlations

MONTX
- 0.49
MICDX
RBCGX
- 0.16
MICDX
MONTX
- 0.11
IEYAX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Infrastructure 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 Fidelity Infrastructure'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
IEYAX  0.71  0.24  0.18 (15.62) 0.60 
(0.79)
 1.64 
(1.32)
 4.39 
VILLX  0.43  0.04  0.02  0.12  0.38 
(0.54)
 1.00 
(0.81)
 2.50 
UMPSX  1.44  0.13  0.11  0.12  1.46 
(1.59)
 3.70 
(2.80)
 8.96 
ICMBX  0.39  0.02 (0.02) 0.10  0.45 
(0.42)
 0.77 
(0.91)
 2.37 
CEE  1.31  0.34  0.25  0.56  0.96 
(1.65)
 3.27 
(1.67)
 6.37 
MICDX  0.66  0.05  0.01  0.30  0.59 
(0.85)
 1.65 
(1.14)
 3.57 
BVEIX  0.65  0.16  0.20  0.27  0.44 
(0.82)
 1.21 
(1.16)
 10.56 
WMBLX  0.42  0.18  0.28  0.60  0.00 
(0.54)
 0.79 
(0.57)
 6.80 
RBCGX  0.86  0.08  0.09  0.13  0.72 
(1.06)
 0.82 
(1.60)
 21.46 
MONTX  0.81 (0.17) 0.00 (0.12) 0.00 
 0.00 
 1.55 
(2.28)
 5.57 

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