Fidelity Stock Correlations

Mutual Funds . USA . 
Fund . Fidelity Stock Selector
FSCZX Fund  USD 30.75  0.01  0.03%   
The current 90-days correlation between Fidelity Stock Selector and Fidelity Freedom 2070 is 0.61 (i.e., Poor 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

Almost no diversification

The correlation between Fidelity Stock Selector and DJI is 0.92 (i.e., Almost no 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

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.97FPURX Fidelity PuritanPairCorr
  0.97FPUKX Fidelity PuritanPairCorr
  0.84FPXTX Fidelity PennsylvaniaPairCorr
  0.92FQIFX Fidelity Freedom IndexPairCorr
  0.93FQIPX Fidelity Freedom IndexPairCorr
  0.93FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.95FRBDX Fidelity Freedom 2070PairCorr
  0.95FRBEX Fidelity Freedom 2070PairCorr
  0.95FRBHX Fidelity Freedom 2070PairCorr
  0.95FRBJX Fidelity Advisor FreedomPairCorr
  0.95FRBKX Fidelity Advisor FreedomPairCorr
  0.94FRBLX Fidelity Advisor FreedomPairCorr
  0.95FRBNX Fidelity Advisor FreedomPairCorr
  0.95FRBOX Fidelity Advisor FreedomPairCorr
  0.95FRBPX Fidelity Advisor FreedomPairCorr
  0.95FRBQX Fidelity Flex FreedomPairCorr
  0.93FRBUX Fidelity Freedom IndexPairCorr
  0.93FRBVX Fidelity Freedom IndexPairCorr
  0.93FRBWX Fidelity Freedom IndexPairCorr
  0.95FRBYX Fidelity Freedom BlendPairCorr
  0.95FRBZX Fidelity Freedom BlendPairCorr
  0.93FRAGX Aggressive GrowthPairCorr
  0.94FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.95FRCFX Fidelity Freedom BlendPairCorr
  0.95FRCHX Fidelity Freedom BlendPairCorr
  0.94FRCJX Fidelity Freedom BlendPairCorr
  0.94FRCKX Fidelity Freedom BlendPairCorr
  0.95FRCLX Fidelity Freedom BlendPairCorr
  0.95FRCNX Fidelity Freedom BlendPairCorr
  0.95FRCPX Fidelity Freedom BlendPairCorr
  0.93FRCQX Fidelity SustainablePairCorr
  0.93FRCRX Fidelity SustainablePairCorr
  0.93FRCVX Fidelity SustainablePairCorr
  0.93FRCWX Fidelity SustainablePairCorr
  0.93FRCYX Fidelity SustainablePairCorr
  0.93FRDCX Fidelity SustainablePairCorr
  0.93FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.26  0.05 (0.03) 0.25  0.10 
(0.32)
 0.52 
(0.51)
 2.69 
FPURX  0.50  0.02 (0.02) 0.11  0.55 
(0.51)
 1.27 
(1.12)
 3.79 
FPUKX  0.50  0.02 (0.02) 0.11  0.57 
(0.54)
 1.31 
(1.16)
 3.76 
FPXTX  0.07  0.01 (0.47)(1.08) 0.00 
(0.13)
 0.19 
(0.10)
 0.66 
FQIFX  0.31  0.00 (0.11) 0.08  0.32 
(0.38)
 0.69 
(0.69)
 1.77 
FQIPX  0.52  0.00 (0.03) 0.08  0.62 
(0.52)
 1.00 
(1.11)
 2.77 
FQITX  0.70  0.02  0.01  0.11  0.82 
(0.72)
 1.55 
(1.38)
 3.78 
FQLSX  0.55  0.04  0.02  0.14  0.61 
(0.56)
 1.07 
(1.14)
 2.69 
FRBDX  0.56  0.04  0.02  0.14  0.67 
(0.57)
 1.04 
(1.25)
 2.84 
FRBEX  0.56  0.04  0.02  0.14  0.67 
(0.57)
 1.04 
(1.25)
 2.80 

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