Fidelity MSCI Correlations

FSTA Etf

USD 50.94 0.65 1.29%

The current 90-days correlation between Fidelity MSCI Consumer and iShares Consumer Discretionary is 0.32 (i.e., Weak diversification). The correlation of Fidelity MSCI 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 MSCI Correlation With Market

Average diversification

The correlation between Fidelity MSCI Consumer and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Consumer 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 MSCI Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Fidelity Etf

0.94	XLP	Consumer Staples Select	Pair Corr
1.0	VDC	Vanguard Consumer Staples	Pair Corr
0.87	IYK	iShares Consumer Staples	Pair Corr
0.77	KXI	iShares Global Consumer	Pair Corr
0.76	FTXG	First Trust Nasdaq	Pair Corr
0.66	RHS	Invesco SP 500	Pair Corr
0.8	GREI	Goldman Sachs Future	Pair Corr
0.84	PG	Procter Gamble	Pair Corr
0.66	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Fidelity Etf

0.45	EOS	Eaton Vance Enhanced	Pair Corr
0.43	XOP	SPDR SP Oil	Pair Corr
0.34	VBK	Vanguard Small Cap	Pair Corr
0.53	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.44	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.43	CSCO	Cisco Systems	Pair Corr
0.42	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.41	HPQ	HP Inc	Pair Corr
0.33	SPY	SPDR SP 500	Pair Corr

Related Correlations Analysis

	IYC	IYJ	IDU	IYM	IYZ
IYC		0.94	0.6	0.37	0.94	IYC
IYJ	0.94		0.71	0.56	0.98	IYJ
IDU	0.6	0.71		0.74	0.75	IDU
IYM	0.37	0.56	0.74		0.55	IYM
IYZ	0.94	0.98	0.75	0.55		IYZ
	IYC	IYJ	IDU	IYM	IYZ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Fidelity MSCI Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity MSCI 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 MSCI'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
IYC	0.74	0.11	0.13	0.21	0.59	(0.89)	1.49	(1.22)	3.43
IYJ	0.63	0.06	0.08	0.14	0.51	(0.70)	1.39	(1.13)	5.64
IDU	0.70	0.09	0.03	0.52	0.75	(0.72)	1.56	(1.40)	4.41
IYM	0.77	(0.04)	(0.05)	0.04	0.89	(0.84)	1.59	(1.52)	4.37
IYZ	0.66	0.16	0.22	0.28	0.23	(0.77)	1.44	(0.91)	3.70

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC