Fidelity Small Correlations

FSMD Etf

USD 42.87 0.39 0.92%

The current 90-days correlation between Fidelity Small Mid and Fidelity Emerging Markets is 0.53 (i.e., Very 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.

Fidelity Small Correlation With Market

Very weak diversification

The correlation between Fidelity Small Mid Factor and DJI is 0.58 (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 Mid Factor 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 Mid Factor. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Fidelity Etf

0.9	VB	Vanguard Small Cap	Pair Corr
0.89	IJR	iShares Core SP	Pair Corr
0.97	IWM	iShares Russell 2000 Aggressive Push	Pair Corr
0.99	FNDA	Schwab Fundamental Small	Pair Corr
0.89	SPSM	SPDR Portfolio SP	Pair Corr
0.92	DFAS	Dimensional Small Cap	Pair Corr
0.89	VIOO	Vanguard SP Small	Pair Corr
0.89	PRFZ	Invesco FTSE RAFI	Pair Corr
0.61	SPXL	Direxion Daily SP500	Pair Corr
0.79	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr
0.67	BAC	Bank of America	Pair Corr
0.77	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.88	DD	Dupont De Nemours	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.64	INTC	Intel	Pair Corr

Moving against Fidelity Etf

0.58	BA	Boeing	Pair Corr
0.45	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	FDEM	FDEV	FQAL	FDLO	FDMO
FDEM		0.53	0.65	0.55	0.61	FDEM
FDEV	0.53		0.8	0.84	0.72	FDEV
FQAL	0.65	0.8		0.92	0.74	FQAL
FDLO	0.55	0.84	0.92		0.65	FDLO
FDMO	0.61	0.72	0.74	0.65		FDMO
	FDEM	FDEV	FQAL	FDLO	FDMO

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Fidelity Small Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Small ETF 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
FDEM	0.67	(0.02)	(0.03)	(0.02)	0.89	(0.68)	1.13	(1.39)	3.88
FDEV	0.49	0.01	(0.01)	0.04	0.67	(0.53)	1.10	(1.02)	3.53
FQAL	0.56	(0.01)	(0.02)	0.01	0.86	(0.52)	0.93	(1.34)	3.67
FDLO	0.39	(0.01)	(0.03)	0.01	0.61	(0.42)	0.79	(1.11)	3.10
FDMO	0.80	0.02	0.01	0.06	1.16	(0.76)	1.50	(1.62)	5.08

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