Fidelity Total Correlations

FSKAX Fund

USD 188.84 1.38 0.74%

The current 90-days correlation between Fidelity Total Market and Vanguard Small Cap Index is 0.87 (i.e., Very poor diversification). The correlation of Fidelity Total 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 Total Correlation With Market

Very poor diversification

The correlation between Fidelity Total Market and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Total Market 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 Total Market. 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

0.77	FPURX	Fidelity Puritan	Pair Corr
0.82	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.96	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.72	FRIMX	Fidelity Income Repl	Pair Corr
0.71	FAFAX	Fidelity Advisor Freedom	Pair Corr
0.92	FAGIX	Fidelity Capital Income	Pair Corr
0.72	FAMRX	Fidelity Asset Manager	Pair Corr
0.63	FSCSX	Software And It	Pair Corr
0.88	FSELX	Fidelity Select Semi	Pair Corr
0.91	FASIX	Fidelity Asset Manager	Pair Corr
0.72	FSLVX	Fidelity Stock Selector	Pair Corr
0.82	FSMDX	Fidelity Mid Cap	Pair Corr
0.64	FSPTX	Technology Portfolio	Pair Corr
0.76	FSRFX	Transportation Portfolio	Pair Corr
0.94	FBALX	Fidelity Balanced	Pair Corr

Moving against Fidelity Mutual Fund

0.43	FALAX	Fidelity Advisor Large	Pair Corr
0.41	FSAWX	Fidelity Sai Convertible	Pair Corr
0.44	FSPWX	Fidelity Sai Inflation	Pair Corr

Related Correlations Analysis

	VB	VWELX	JLGRX	VTTHX	TRBCX	FSMAX	VTHRX	AEPFX	VFORX	VTIVX
VB		0.57	0.17	0.7	0.68	0.93	0.85	0.59	0.7	0.69	VB
VWELX	0.57		0.19	0.92	0.62	0.38	0.82	0.66	0.92	0.91	VWELX
JLGRX	0.17	0.19		0.4	0.5	0.42	0.22	0.06	0.4	0.41	JLGRX
VTTHX	0.7	0.92	0.4		0.69	0.58	0.88	0.75	1.0	1.0	VTTHX
TRBCX	0.68	0.62	0.5	0.69		0.71	0.79	0.41	0.68	0.68	TRBCX
FSMAX	0.93	0.38	0.42	0.58	0.71		0.75	0.42	0.58	0.58	FSMAX
VTHRX	0.85	0.82	0.22	0.88	0.79	0.75		0.73	0.87	0.87	VTHRX
AEPFX	0.59	0.66	0.06	0.75	0.41	0.42	0.73		0.75	0.76	AEPFX
VFORX	0.7	0.92	0.4	1.0	0.68	0.58	0.87	0.75		1.0	VFORX
VTIVX	0.69	0.91	0.41	1.0	0.68	0.58	0.87	0.76	1.0		VTIVX
	VB	VWELX	JLGRX	VTTHX	TRBCX	FSMAX	VTHRX	AEPFX	VFORX	VTIVX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Total 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 Total'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
VB	0.85	(0.03)	(0.01)	0.05	1.05	(0.87)	1.61	(1.77)	4.21
VWELX	0.39	0.03	(0.05)	0.33	0.49	(0.38)	0.91	(0.92)	2.40
JLGRX	0.81	(0.04)	0.00	(0.22)	0.00	0.00	1.68	(2.13)	4.93
VTTHX	0.38	0.03	(0.06)	0.28	0.49	(0.36)	0.79	(0.85)	2.16
TRBCX	0.93	(0.04)	(0.03)	0.03	1.61	(0.82)	2.14	(2.07)	10.35
FSMAX	0.93	(0.06)	(0.03)	0.03	1.17	(0.98)	1.70	(1.93)	4.95
VTHRX	0.34	0.00	(0.07)	0.07	0.46	(0.33)	0.73	(0.76)	1.95
AEPFX	0.77	0.20	0.17	0.95	0.56	(0.94)	1.32	(1.28)	10.44
VFORX	0.43	0.03	(0.05)	0.29	0.60	(0.41)	0.85	(0.97)	2.42
VTIVX	0.47	0.03	(0.04)	0.31	0.66	(0.46)	0.93	(1.08)	2.59

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