Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FSLCX Fund  USD 19.33  0.13  0.68%   
The current 90-days correlation between Fidelity Small Cap and Fidelity Freedom 2070 is 0.74 (i.e., Poor 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

Almost no diversification

The correlation between Fidelity Small Cap and DJI is 0.91 (i.e., Almost no 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 services.

Moving together with Fidelity Mutual Fund

  0.81FPTKX Fidelity Freedom 2015PairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.63FPXTX Fidelity PennsylvaniaPairCorr
  0.84FQIFX Fidelity Freedom IndexPairCorr
  0.87FQIPX Fidelity Freedom IndexPairCorr
  0.88FQITX Fidelity Salem StreetPairCorr
  0.87FQLSX Fidelity Flex FreedomPairCorr
  0.86FRBDX Fidelity Freedom 2070PairCorr
  0.86FRBEX Fidelity Freedom 2070PairCorr
  0.86FRBHX Fidelity Freedom 2070PairCorr
  0.86FRBJX Fidelity Advisor FreedomPairCorr
  0.86FRBKX Fidelity Advisor FreedomPairCorr
  0.87FRBLX Fidelity Advisor FreedomPairCorr
  0.86FRBNX Fidelity Advisor FreedomPairCorr
  0.86FRBOX Fidelity Advisor FreedomPairCorr
  0.86FRBPX Fidelity Advisor FreedomPairCorr
  0.87FRBQX Fidelity Flex FreedomPairCorr
  0.87FRBUX Fidelity Freedom IndexPairCorr
  0.87FRBVX Fidelity Freedom IndexPairCorr
  0.87FRBWX Fidelity Freedom IndexPairCorr
  0.87FRBYX Fidelity Freedom BlendPairCorr
  0.87FRBZX Fidelity Freedom BlendPairCorr
  0.89FRAGX Aggressive GrowthPairCorr
  0.79FRAMX Fidelity Income ReplPairCorr
  0.81FRASX Fidelity Income ReplPairCorr
  0.87FRCFX Fidelity Freedom BlendPairCorr
  0.87FRCHX Fidelity Freedom BlendPairCorr
  0.87FRCJX Fidelity Freedom BlendPairCorr
  0.87FRCKX Fidelity Freedom BlendPairCorr
  0.86FRCLX Fidelity Freedom BlendPairCorr
  0.87FRCNX Fidelity Freedom BlendPairCorr
  0.87FRCPX Fidelity Freedom BlendPairCorr
  0.88FRCQX Fidelity SustainablePairCorr
  0.88FRCRX Fidelity SustainablePairCorr
  0.88FRCVX Fidelity SustainablePairCorr
  0.88FRCWX Fidelity SustainablePairCorr
  0.88FRCYX Fidelity SustainablePairCorr
  0.88FRDCX Fidelity SustainablePairCorr
  0.88FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.25  0.07  0.07  0.36  0.00 
(0.32)
 0.51 
(0.43)
 2.69 
FPURX  0.41  0.08  0.02 (1.37) 0.42 
(0.44)
 0.74 
(0.97)
 2.71 
FPUKX  0.45  0.04  0.01  0.13  0.48 
(0.46)
 0.85 
(1.12)
 2.82 
FPXTX  0.07  0.02 (0.36)(1.36) 0.00 
(0.14)
 0.19 
(0.10)
 0.66 
FQIFX  0.30  0.03 (0.03) 0.14  0.23 
(0.36)
 0.65 
(0.58)
 1.77 
FQIPX  0.49  0.04  0.03  0.13  0.52 
(0.52)
 0.99 
(1.04)
 3.10 
FQITX  0.68  0.06  0.05  0.15  0.78 
(0.70)
 1.55 
(1.53)
 3.78 
FQLSX  0.53  0.08  0.09  0.19  0.49 
(0.57)
 1.05 
(1.08)
 3.48 
FRBDX  0.53  0.09  0.09  0.19  0.55 
(0.59)
 1.02 
(1.08)
 3.36 
FRBEX  0.54  0.09  0.09  0.19  0.56 
(0.59)
 1.03 
(1.09)
 3.44 

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