Fidelity Puritan Correlations

Mutual Funds . USA . 
Fund . Fidelity Puritan Fund
FPURX Fund  USD 25.24  0.02  0.08%   
The current 90-days correlation between Fidelity Puritan and Fidelity Balanced Fund is 0.05 (i.e., Significant diversification). The correlation of Fidelity Puritan 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 Puritan Correlation With Market

Significant diversification

The correlation between Fidelity Puritan Fund and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Puritan Fund 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 Puritan Fund. 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

  0.76FPUKX Fidelity PuritanPairCorr
  0.69FPXTX Fidelity PennsylvaniaPairCorr
  0.71FQIFX Fidelity Freedom IndexPairCorr
  0.71FQIPX Fidelity Freedom IndexPairCorr
  0.65FQLSX Fidelity Flex FreedomPairCorr
  0.74FRAGX Aggressive GrowthPairCorr
  0.75FRGAX Growth Allocation IndexPairCorr
  0.72FRLPX Fidelity Freedom IndexPairCorr
  0.65FROGX Fidelity Municipal IncomePairCorr
  0.63FRQIX Fidelity Income ReplPairCorr
  0.65FAASX Fidelity Asset ManagerPairCorr
  0.66FAAIX Fidelity Asset ManagerPairCorr
  0.69FACVX Fidelity ConvertiblePairCorr
  0.69FACPX Fidelity Advisor SumerPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Puritan 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 Puritan'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.

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