Fidelity Infrastructure Correlations

FNSTX Fund

USD 16.78 0.09 0.53%

The current 90-days correlation between Fidelity Infrastructure and Ivy Energy Fund is 0.69 (i.e., Poor 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 0.58 (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.

Related Correlations Analysis

	IEYAX	VILLX	UMPSX	ICMBX	CEE	MICDX	BVEIX	WMBLX	RBCGX	MONTX
IEYAX		0.64	0.75	0.91	0.87	0.01	0.83	0.85	0.73	0.23	IEYAX
VILLX	0.64		0.88	0.8	0.62	-0.15	0.69	0.61	0.67	0.45	VILLX
UMPSX	0.75	0.88		0.87	0.72	0.0	0.76	0.66	0.69	0.61	UMPSX
ICMBX	0.91	0.8	0.87		0.87	-0.03	0.86	0.84	0.78	0.27	ICMBX
CEE	0.87	0.62	0.72	0.87		-0.11	0.87	0.84	0.78	0.16	CEE
MICDX	0.01	-0.15	0.0	-0.03	-0.11		-0.18	-0.06	-0.15	0.28	MICDX
BVEIX	0.83	0.69	0.76	0.86	0.87	-0.18		0.84	0.84	0.25	BVEIX
WMBLX	0.85	0.61	0.66	0.84	0.84	-0.06	0.84		0.85	0.18	WMBLX
RBCGX	0.73	0.67	0.69	0.78	0.78	-0.15	0.84	0.85		0.27	RBCGX
MONTX	0.23	0.45	0.61	0.27	0.16	0.28	0.25	0.18	0.27		MONTX
	IEYAX	VILLX	UMPSX	ICMBX	CEE	MICDX	BVEIX	WMBLX	RBCGX	MONTX

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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

ICMBX	+ 0.91	IEYAX
UMPSX	+ 0.88	VILLX
CEE	+ 0.87	IEYAX
ICMBX	+ 0.87	UMPSX
CEE	+ 0.87	ICMBX
BVEIX	+ 0.87	CEE

High negative correlations

BVEIX	- 0.18	MICDX
RBCGX	- 0.15	MICDX
MICDX	- 0.15	VILLX
MICDX	- 0.11	CEE
WMBLX	- 0.06	MICDX
MICDX	- 0.03	ICMBX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IEYAX	0.62	0.03	0.02	0.09	0.68	(0.68)	1.35	(1.27)	3.00
VILLX	0.41	(0.05)	0.00	(0.03)	0.00	0.00	0.85	(0.69)	2.12
UMPSX	1.55	(0.13)	(0.03)	0.00	2.06	(1.56)	3.70	(3.19)	7.63
ICMBX	0.44	0.00	(0.04)	0.05	0.60	(0.44)	0.88	(0.80)	3.01
CEE	1.17	0.24	0.18	0.32	0.98	(1.43)	3.18	(1.83)	5.80
MICDX	0.76	(0.04)	0.00	(0.14)	0.00	0.00	1.65	(1.21)	4.34
BVEIX	0.64	0.10	0.13	0.18	0.49	(0.76)	1.08	(0.82)	9.91
WMBLX	0.44	0.11	0.18	0.32	0.00	(0.61)	0.82	(0.56)	6.22
RBCGX	1.09	0.16	0.16	0.15	0.94	(1.25)	2.06	(1.73)	21.23
MONTX	0.92	(0.09)	0.00	(0.02)	0.00	0.00	1.55	(2.75)	5.42

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