Materials Portfolio Correlations

FSDPX Fund

USD 88.16 0.59 0.66%

The current 90-days correlation between Materials Portfolio and Chemicals Portfolio Chemicals is 0.76 (i.e., Poor diversification). The correlation of Materials Portfolio 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.

Materials Portfolio Correlation With Market

Modest diversification

The correlation between Materials Portfolio Materials and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Materials Portfolio Materials 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 Materials Portfolio Materials. 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 american community survey.

Moving together with Materials Mutual Fund

0.77	FPTKX	Fidelity Freedom 2015	Pair Corr
0.75	FQIFX	Fidelity Freedom Index	Pair Corr
0.61	FQITX	Fidelity Salem Street	Pair Corr
0.73	FQLSX	Fidelity Flex Freedom	Pair Corr
0.71	FRAMX	Fidelity Income Repl	Pair Corr
0.7	FRASX	Fidelity Income Repl	Pair Corr
0.94	FRESX	Fidelity Real Estate	Pair Corr
0.87	FRIFX	Fidelity Real Estate	Pair Corr
0.7	FRIMX	Fidelity Income Repl	Pair Corr
0.87	FRINX	Fidelity Real Estate	Pair Corr
0.89	FRIOX	Fidelity Real Estate	Pair Corr
0.87	FRIQX	Fidelity Real Estate	Pair Corr
0.68	FRHMX	Fidelity Managed Ret	Pair Corr
0.69	FRKMX	Fidelity Managed Ret	Pair Corr
0.87	FRIRX	Fidelity Real Estate	Pair Corr
0.69	FRQHX	Fidelity Managed Ret	Pair Corr
0.7	FRQIX	Fidelity Income Repl	Pair Corr
0.69	FRQKX	Fidelity Managed Ret	Pair Corr
0.71	FRQAX	Fidelity Income Repl	Pair Corr
0.78	FAASX	Fidelity Asset Manager	Pair Corr
0.77	FAAIX	Fidelity Asset Manager	Pair Corr
0.97	FACTX	Fidelity Advisor Health	Pair Corr
0.92	FACNX	Fidelity Canada	Pair Corr
0.74	FACFX	Fidelity Advisor Freedom	Pair Corr
0.97	FACDX	Fidelity Advisor Health	Pair Corr

Moving against Materials Mutual Fund

0.89	FRPCX	Fidelity Sai Alternative	Pair Corr
0.45	FACGX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	FSCHX	FCYIX	FSRFX	FSAVX	FSCPX
FSCHX		0.73	0.85	-0.41	-0.28	FSCHX
FCYIX	0.73		0.94	0.22	0.31	FCYIX
FSRFX	0.85	0.94		-0.04	0.07	FSRFX
FSAVX	-0.41	0.22	-0.04		0.87	FSAVX
FSCPX	-0.28	0.31	0.07	0.87		FSCPX
	FSCHX	FCYIX	FSRFX	FSAVX	FSCPX

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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

FSRFX	+ 0.94	FCYIX
FSCPX	+ 0.87	FSAVX
FSRFX	+ 0.85	FSCHX
FCYIX	+ 0.73	FSCHX
FSCPX	+ 0.31	FCYIX
FSAVX	+ 0.22	FCYIX

High negative correlations

FSAVX	- 0.41	FSCHX
FSCPX	- 0.28	FSCHX
FSAVX	- 0.04	FSRFX

Risk-Adjusted Indicators

There is a big difference between Materials Mutual Fund performing well and Materials Portfolio 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 Materials Portfolio'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
FSCHX	0.79	(0.18)	0.00	(0.66)	0.00	0.00	1.37	(1.56)	4.76
FCYIX	0.82	(0.01)	(0.02)	0.01	1.24	(0.79)	1.86	(1.56)	8.39
FSRFX	0.83	(0.07)	0.00	(0.25)	0.00	0.00	1.76	(1.65)	9.68
FSAVX	0.90	0.10	0.07	0.30	1.05	(0.94)	1.84	(1.86)	6.42
FSCPX	1.04	0.13	0.06	0.46	1.58	(1.04)	2.17	(1.86)	8.63

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