Fidelity Stock Correlations

FSCZX Fund

USD 30.39 0.04 0.13%

The current 90-days correlation between Fidelity Stock Selector and The Gabelli Healthcare is 0.17 (i.e., Average diversification). The correlation of Fidelity Stock 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 Stock Correlation With Market

Very poor diversification

The correlation between Fidelity Stock Selector and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Stock Selector 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 Stock Selector. 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 nation.

Moving together with Fidelity Mutual Fund

0.75	FADTX	Fidelity Advisor Tec	Pair Corr
0.78	FAGIX	Fidelity Capital Income	Pair Corr
0.8	FSAWX	Fidelity Sai Convertible	Pair Corr
0.62	FANAX	Fidelity Advisor Energy	Pair Corr
0.78	FSBDX	Fidelity Series Blue	Pair Corr
0.74	FASDX	Fidelity Strategic	Pair Corr
0.74	FSIDX	Fidelity Strategic	Pair Corr
0.86	FSMAX	Fidelity Extended Market	Pair Corr
0.74	FSPGX	Fidelity Large Cap	Pair Corr
0.75	FSPTX	Technology Portfolio	Pair Corr
0.86	FSRBX	Banking Portfolio Banking	Pair Corr
0.84	FSSNX	Fidelity Small Cap	Pair Corr
0.84	FSTCX	Telecommunications	Pair Corr
0.85	FSVLX	Consumer Finance Por	Pair Corr
0.69	FBMPX	Multimedia Portfolio Steady Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.67	FSISX	Fidelity Sai Interna	Pair Corr
0.43	FSHCX	Health Care Services	Pair Corr
0.34	FACDX	Fidelity Advisor Health	Pair Corr
0.32	FRQIX	Fidelity Income Repl	Pair Corr
0.71	FSPSX	Fidelity International	Pair Corr
0.63	FTLTX	Fidelity Series Long	Pair Corr
0.62	FBLTX	Fidelity Sai Long	Pair Corr
0.6	FBNDX	Fidelity Investment Grade	Pair Corr
0.6	FBTAX	Fidelity Advisor Bio	Pair Corr
0.53	FBTTX	Fidelity Advisor Bio	Pair Corr
0.5	FTBFX	Fidelity Total Bond	Pair Corr

Related Correlations Analysis

	XXGRX	BGHDX	BHSRX	SCHLX	BHCHX	LYFAX	GGHYX	AHSCX
XXGRX		0.8	0.95	0.97	0.9	0.65	0.97	0.3	XXGRX
BGHDX	0.8		0.75	0.83	0.73	0.58	0.81	0.19	BGHDX
BHSRX	0.95	0.75		0.95	0.97	0.69	0.94	0.43	BHSRX
SCHLX	0.97	0.83	0.95		0.91	0.6	0.99	0.28	SCHLX
BHCHX	0.9	0.73	0.97	0.91		0.66	0.92	0.43	BHCHX
LYFAX	0.65	0.58	0.69	0.6	0.66		0.57	0.68	LYFAX
GGHYX	0.97	0.81	0.94	0.99	0.92	0.57		0.25	GGHYX
AHSCX	0.3	0.19	0.43	0.28	0.43	0.68	0.25		AHSCX
	XXGRX	BGHDX	BHSRX	SCHLX	BHCHX	LYFAX	GGHYX	AHSCX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Stock 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 Stock'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
XXGRX	0.63	(0.15)	0.00	(0.72)	0.00	0.00	1.01	(1.19)	2.74
BGHDX	0.96	(0.02)	0.00	(1.24)	0.00	0.00	1.38	(1.69)	8.68
BHSRX	0.55	(0.16)	0.00	(0.15)	0.00	0.00	0.91	(1.25)	3.39
SCHLX	0.52	(0.12)	0.00	(0.66)	0.00	0.00	0.89	(1.16)	3.08
BHCHX	0.64	(0.15)	0.00	(0.10)	0.00	0.00	1.27	(1.35)	4.20
LYFAX	0.61	(0.14)	0.00	(0.14)	0.00	0.00	1.10	(1.62)	3.82
GGHYX	0.60	(0.13)	0.00	(0.49)	0.00	0.00	0.93	(1.27)	3.73
AHSCX	0.55	(0.06)	(0.17)	(0.02)	0.70	(0.59)	0.82	(1.17)	4.55

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