Fidelity MSCI Correlations

FREL Etf

USD 28.91 0.20 0.70%

The current 90-days correlation between Fidelity MSCI Real and Gladstone Commercial is 0.63 (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

Average diversification

The correlation between Fidelity MSCI Real and DJI is 0.1 (i.e., Average 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 Sell-off Trend	Pair Corr
0.99	XLRE	Real Estate	Pair Corr
0.99	IYR	iShares Real Estate	Pair Corr
0.98	ICF	iShares Cohen Steers	Pair Corr
0.98	USRT	iShares Core REIT	Pair Corr
0.84	IRET	Tidal Trust II	Pair Corr
0.78	GREI	Goldman Sachs Future	Pair Corr
0.74	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against Fidelity Etf

0.34	MORE	MORE	Pair Corr
0.35	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Related Correlations Analysis

	GOOD	WPC	PKST	CTO	GNL	BRSP	NXDT	BNL	OLP	CTO-PA
GOOD		-0.38	0.33	0.74	-0.53	0.48	0.08	-0.26	0.92	0.69	GOOD
WPC	-0.38		0.52	-0.41	0.83	-0.48	0.66	0.82	-0.21	-0.33	WPC
PKST	0.33	0.52		0.28	0.49	0.07	0.74	0.55	0.49	0.26	PKST
CTO	0.74	-0.41	0.28		-0.37	0.5	-0.04	-0.28	0.72	0.47	CTO
GNL	-0.53	0.83	0.49	-0.37		-0.54	0.58	0.83	-0.37	-0.36	GNL
BRSP	0.48	-0.48	0.07	0.5	-0.54		-0.02	-0.6	0.6	0.07	BRSP
NXDT	0.08	0.66	0.74	-0.04	0.58	-0.02		0.62	0.24	-0.03	NXDT
BNL	-0.26	0.82	0.55	-0.28	0.83	-0.6	0.62		-0.17	0.03	BNL
OLP	0.92	-0.21	0.49	0.72	-0.37	0.6	0.24	-0.17		0.51	OLP
CTO-PA	0.69	-0.33	0.26	0.47	-0.36	0.07	-0.03	0.03	0.51		CTO-PA
	GOOD	WPC	PKST	CTO	GNL	BRSP	NXDT	BNL	OLP	CTO-PA

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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

OLP	+ 0.92	GOOD
GNL	+ 0.83	WPC
BNL	+ 0.83	GNL
BNL	+ 0.82	WPC
CTO	+ 0.74	GOOD
NXDT	+ 0.74	PKST

High negative correlations

BNL	- 0.6	BRSP
BRSP	- 0.54	GNL
GNL	- 0.53	GOOD
BRSP	- 0.48	WPC
CTO	- 0.41	WPC
WPC	- 0.38	GOOD

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
GOOD	0.89	0.22	0.18	0.62	0.61	(1.11)	1.94	(1.58)	8.00
WPC	0.80	(0.04)	0.00	(0.16)	0.00	0.00	1.73	(1.57)	4.41
PKST	2.10	(0.03)	0.01	0.07	2.53	(2.42)	5.78	(4.28)	15.24
CTO	1.19	0.06	0.00	0.34	2.20	(1.24)	2.27	(1.54)	19.07
GNL	1.03	(0.19)	0.00	(0.21)	0.00	0.00	2.45	(2.67)	6.60
BRSP	1.42	0.09	0.05	0.17	1.44	(1.66)	3.10	(2.74)	22.56
NXDT	1.76	(0.08)	(0.03)	0.01	1.98	(2.18)	4.22	(3.64)	11.44
BNL	0.78	(0.07)	0.00	(0.09)	0.00	0.00	1.61	(1.71)	5.03
OLP	1.07	0.08	0.07	0.17	1.00	(1.23)	2.55	(1.97)	7.70
CTO-PA	0.99	0.10	0.02	0.70	1.26	(1.02)	2.11	(2.43)	7.56

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