Fidelity MSCI Correlations

FTEC Etf

USD 190.25 0.81 0.43%

The current 90-days correlation between Fidelity MSCI Information and Fidelity MSCI Health is 0.09 (i.e., Significant 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

Weak diversification

The correlation between Fidelity MSCI Information and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Information 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 Information. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Fidelity Etf

1.0	VGT	Vanguard Information	Pair Corr
0.96	XLK	Technology Select Sector	Pair Corr
0.98	IYW	iShares Technology ETF	Pair Corr
0.62	SOXX	iShares Semiconductor ETF	Pair Corr
0.75	IGM	iShares Expanded Tech	Pair Corr
0.64	MSFT	Microsoft	Pair Corr

Moving against Fidelity Etf

0.35	XOP	SPDR SP Oil	Pair Corr
0.33	XOM	Exxon Mobil Corp	Pair Corr

Related Correlations Analysis

	FHLC	FDIS	FNCL	FENY	FSTA
FHLC		-0.06	0.79	0.53	0.5	FHLC
FDIS	-0.06		0.19	-0.48	0.21	FDIS
FNCL	0.79	0.19		0.44	0.6	FNCL
FENY	0.53	-0.48	0.44		0.12	FENY
FSTA	0.5	0.21	0.6	0.12		FSTA
	FHLC	FDIS	FNCL	FENY	FSTA

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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

FNCL	+ 0.79	FHLC
FSTA	+ 0.6	FNCL
FENY	+ 0.53	FHLC
FSTA	+ 0.5	FHLC
FENY	+ 0.44	FNCL
FSTA	+ 0.21	FDIS

High negative correlations

FENY	- 0.48	FDIS
FDIS	- 0.06	FHLC

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
FHLC	0.66	(0.06)	0.00	(0.11)	0.00	0.00	1.27	(1.45)	3.07
FDIS	0.91	0.07	0.05	0.15	1.35	(0.87)	1.87	(1.78)	6.85
FNCL	0.67	0.08	0.07	0.12	0.88	(0.69)	1.43	(1.10)	5.45
FENY	0.90	(0.05)	0.00	(0.11)	0.00	0.00	1.47	(2.42)	4.79
FSTA	0.54	0.04	0.05	0.10	0.62	(0.54)	1.07	(1.19)	4.01

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