Fidelity MSCI Correlations

FREL Etf

USD 27.39 0.17 0.62%

The current 90-days correlation between Fidelity MSCI Real and Fidelity MSCI Utilities is 0.65 (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 Real moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity MSCI Correlation With Market

Weak diversification

The correlation between Fidelity MSCI Real and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Real 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 Real. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Fidelity Etf

1.0	VNQ	Vanguard Real Estate	Pair Corr
0.64	HHH	Howard Hughes	Pair Corr
1.0	XLRE	Real Estate	Pair Corr
0.72	SITC	Site Centers Corp	Pair Corr
1.0	IYR	iShares Real Estate	Pair Corr
1.0	ICF	iShares Cohen Steers	Pair Corr
0.94	USRT	iShares Core REIT	Pair Corr
0.98	IRET	iREIT MarketVector	Pair Corr
0.83	URNM	Sprott Uranium Miners	Pair Corr
0.94	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.88	VZ	Verizon Communications Aggressive Push	Pair Corr
0.78	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.79	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.86	HPQ	HP Inc	Pair Corr
0.83	AA	Alcoa Corp Potential Growth	Pair Corr
0.7	PG	Procter Gamble	Pair Corr

Moving against Fidelity Etf

0.71	FBGX	UBS	Pair Corr
0.65	FNGS	MicroSectors FANG ETN	Pair Corr
0.61	FNGO	MicroSectors FANG Index	Pair Corr
0.6	MORE	MORE	Pair Corr
0.59	FNGU	MicroSectors FANG Index	Pair Corr
0.55	RTL	Pacer Financial	Pair Corr
0.44	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.37	AXP	American Express Earnings Call Today	Pair Corr

Related Correlations Analysis

	FUTY	FSTA	FMAT	FNCL	FIDU
FUTY		0.4	0.81	0.28	0.68	FUTY
FSTA	0.4		0.47	0.38	0.5	FSTA
FMAT	0.81	0.47		0.1	0.72	FMAT
FNCL	0.28	0.38	0.1		0.74	FNCL
FIDU	0.68	0.5	0.72	0.74		FIDU
	FUTY	FSTA	FMAT	FNCL	FIDU

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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
FUTY	0.81	(0.06)	0.00	(0.11)	0.00	0.00	1.56	(2.11)	4.70
FSTA	0.47	(0.06)	0.00	(0.84)	0.00	0.00	0.89	(1.14)	2.96
FMAT	0.72	(0.13)	0.00	(0.31)	0.00	0.00	1.27	(1.36)	5.35
FNCL	0.80	0.09	0.06	0.28	0.94	(0.87)	1.52	(1.54)	10.24
FIDU	0.72	0.01	(0.01)	0.06	0.80	(0.83)	1.47	(1.15)	7.15

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