Fidelity Small Correlations

FSLCX Fund

USD 18.59 0.14 0.76%

The current 90-days correlation between Fidelity Small Cap and Lazard Equity Centrated is 0.31 (i.e., Weak diversification). The correlation of Fidelity Small 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 Small Correlation With Market

Very weak diversification

The correlation between Fidelity Small Cap and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small Cap 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 Small Cap. 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 manufacturing.

Moving together with Fidelity Mutual Fund

0.68	FPURX	Fidelity Puritan	Pair Corr
0.68	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.68	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.68	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.66	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.63	FRBQX	Fidelity Flex Freedom	Pair Corr
0.62	FRBUX	Fidelity Freedom Index	Pair Corr
0.68	FRBYX	Fidelity Freedom Blend	Pair Corr
0.69	FRCHX	Fidelity Freedom Blend	Pair Corr
0.67	FRCLX	Fidelity Freedom Blend	Pair Corr
0.64	FRCPX	Fidelity Freedom Blend	Pair Corr
0.65	FRCQX	Fidelity Sustainable	Pair Corr
0.63	FRDDX	Fidelity Sustainable	Pair Corr

Related Correlations Analysis

	LEVIX	PLCIX	BOSOX	NEFOX	FZADX	DSEFX	LEVOX	GTSCX	ARTSX	BMDIX
LEVIX		0.61	0.59	0.61	0.0	0.55	1.0	0.61	0.6	0.44	LEVIX
PLCIX	0.61		-0.02	0.14	0.0	0.14	0.61	0.07	0.24	0.05	PLCIX
BOSOX	0.59	-0.02		0.82	0.0	0.86	0.59	0.96	0.79	0.78	BOSOX
NEFOX	0.61	0.14	0.82		0.0	0.58	0.61	0.83	0.81	0.54	NEFOX
FZADX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	FZADX
DSEFX	0.55	0.14	0.86	0.58	0.0		0.55	0.87	0.66	0.85	DSEFX
LEVOX	1.0	0.61	0.59	0.61	0.0	0.55		0.61	0.6	0.44	LEVOX
GTSCX	0.61	0.07	0.96	0.83	0.0	0.87	0.61		0.81	0.8	GTSCX
ARTSX	0.6	0.24	0.79	0.81	0.0	0.66	0.6	0.81		0.6	ARTSX
BMDIX	0.44	0.05	0.78	0.54	0.0	0.85	0.44	0.8	0.6		BMDIX
	LEVIX	PLCIX	BOSOX	NEFOX	FZADX	DSEFX	LEVOX	GTSCX	ARTSX	BMDIX

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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

LEVOX	+ 1.0	LEVIX
GTSCX	+ 0.96	BOSOX
GTSCX	+ 0.87	DSEFX
DSEFX	+ 0.86	BOSOX
BMDIX	+ 0.85	DSEFX
GTSCX	+ 0.83	NEFOX

High negative correlations

BOSOX	- 0.02	PLCIX
BMDIX	- 0.0	FZADX
ARTSX	- 0.0	FZADX
GTSCX	- 0.0	FZADX
LEVOX	- 0.0	FZADX
DSEFX	- 0.0	FZADX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Small 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 Small'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
LEVIX	1.11	0.03	0.04	0.08	1.29	(1.30)	2.41	(2.60)	6.08
PLCIX	0.78	(0.06)	(0.04)	0.00	1.22	(0.72)	1.71	(1.98)	4.67
BOSOX	0.73	0.07	0.01	(0.94)	0.76	(0.87)	2.02	(1.65)	5.46
NEFOX	0.74	(0.02)	0.00	(0.07)	0.00	0.00	1.34	(1.85)	7.52
FZADX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DSEFX	0.73	0.22	0.18	(1.40)	0.56	(0.84)	1.20	(1.15)	11.91
LEVOX	1.10	0.03	0.04	0.08	1.28	(1.29)	2.41	(2.57)	5.99
GTSCX	0.89	0.15	0.07	(0.83)	0.92	(0.96)	2.31	(1.46)	7.91
ARTSX	1.15	0.12	0.11	0.13	1.11	(1.33)	1.98	(1.94)	13.44
BMDIX	0.96	0.10	0.09	0.16	0.86	(1.15)	1.46	(1.71)	14.71

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