Fidelity Series Correlations

Mutual Funds . USA . 
Fund . Fidelity Series Small
FSOPX Fund  USD 17.44  0.05  0.29%   
The current 90-days correlation between Fidelity Series Small and Aqr Managed Futures is -0.09 (i.e., Good diversification). The correlation of Fidelity Series 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 Series Correlation With Market

Very poor diversification

The correlation between Fidelity Series Small and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Small 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 Series Small. 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 inflation.

Moving together with Fidelity Mutual Fund

  0.71FPXTX Fidelity PennsylvaniaPairCorr
  0.85FRCKX Fidelity Freedom BlendPairCorr
  0.86FAAIX Fidelity Asset ManagerPairCorr
  0.86FAGIX Fidelity Capital IncomePairCorr
  0.86FTF Franklin TempletonPairCorr
  0.82FSAWX Fidelity Sai ConvertiblePairCorr
  0.86FAMRX Fidelity Asset ManagerPairCorr
  0.98FSCIX Fidelity Advisor SmallPairCorr
  0.82FSELX Fidelity Select SemiPairCorr
  0.78FSEBX Fidelity Advisor SusPairCorr
  0.89FASIX Fidelity Asset ManagerPairCorr
  0.7FSLEX Environment And AltePairCorr
  0.8FSKAX Fidelity Total MarketPairCorr
  0.62FSTGX Fidelity IntermediatePairCorr
  0.72FSZZX Fidelity Advisor SusPairCorr
  0.93FCAGX Fidelity Small CapPairCorr
  0.71FTRNX Fidelity TrendPairCorr
  0.84FCLCX Fidelity Advisor IndPairCorr
  0.85FCLAX Fidelity Advisor IndPairCorr
  0.92FCLKX Fidelity Large CapPairCorr
  0.78FCNTX Fidelity ContrafundPairCorr
  0.84FCPIX Fidelity Advisor IntPairCorr
  0.9FUEMX Fidelity Flex ServativePairCorr
  0.95FCPVX Fidelity Small CapPairCorr
  0.93FCTGX Fidelity Small CapPairCorr
  0.76FUMBX Fidelity Short TermPairCorr
  0.8FDAGX Consumer Staples PorPairCorr
  0.9FUSIX Strategic AdvisersPairCorr
  0.84FDSSX Fidelity Stock SelectorPairCorr
  0.87FFFCX Fidelity Freedom 2010PairCorr
  0.87FFFAX Fidelity Freedom IncomePairCorr
  0.89FFSFX Fidelity Freedom 2065PairCorr
  0.94FGDIX Fidelity Advisor GoldPairCorr
  0.89FGRTX Fidelity Mega CapPairCorr
  0.89FGWMX Fidelity New MarketsPairCorr
  0.88FGVMX Fidelity New MarketsPairCorr
  0.87FHAUX Fidelity Freedom BlendPairCorr
  0.88FHATX Fidelity Freedom BlendPairCorr

Moving against Fidelity Mutual Fund

  0.69FSUTX Utilities PortfolioPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Series 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 Series' 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.

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