Fidelity Value Correlations

FVLKX Fund

USD 14.24 0.16 1.14%

The current 90-days correlation between Fidelity Value and Ab Global Bond is 0.15 (i.e., Average diversification). The correlation of Fidelity Value 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 Value Correlation With Market

Modest diversification

The correlation between Fidelity Value Fund and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Value Fund 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 Value Fund. 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 industry.

Moving together with Fidelity Mutual Fund

0.68	FPTKX	Fidelity Freedom 2015	Pair Corr
0.68	FQIFX	Fidelity Freedom Index	Pair Corr
0.67	FQLSX	Fidelity Flex Freedom	Pair Corr
0.63	FRAMX	Fidelity Income Repl	Pair Corr
0.62	FRASX	Fidelity Income Repl	Pair Corr
0.92	FRESX	Fidelity Real Estate	Pair Corr
0.82	FRIFX	Fidelity Real Estate	Pair Corr
0.61	FRIMX	Fidelity Income Repl	Pair Corr
0.82	FRINX	Fidelity Real Estate	Pair Corr
0.84	FRIOX	Fidelity Real Estate	Pair Corr
0.83	FRIQX	Fidelity Real Estate	Pair Corr
0.61	FRKMX	Fidelity Managed Ret	Pair Corr
0.82	FRIRX	Fidelity Real Estate	Pair Corr
0.61	FROGX	Fidelity Municipal Income	Pair Corr
0.62	FRQIX	Fidelity Income Repl	Pair Corr
0.61	FRQKX	Fidelity Managed Ret	Pair Corr
0.63	FRQAX	Fidelity Income Repl	Pair Corr
0.73	FAASX	Fidelity Asset Manager	Pair Corr
0.72	FAAIX	Fidelity Asset Manager	Pair Corr
0.62	FACVX	Fidelity Convertible	Pair Corr
0.85	FACTX	Fidelity Advisor Health	Pair Corr
0.99	FACNX	Fidelity Canada	Pair Corr
0.62	FACFX	Fidelity Advisor Freedom	Pair Corr
0.84	FACDX	Fidelity Advisor Health	Pair Corr

Moving against Fidelity Mutual Fund

0.78	FRPCX	Fidelity Sai Alternative	Pair Corr
0.36	FACGX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	ANAGX	PCMNX	DLTNX	MDMTX	MSTBX
ANAGX		0.87	0.83	0.86	0.6	ANAGX
PCMNX	0.87		0.84	0.98	0.51	PCMNX
DLTNX	0.83	0.84		0.85	0.53	DLTNX
MDMTX	0.86	0.98	0.85		0.53	MDMTX
MSTBX	0.6	0.51	0.53	0.53		MSTBX
	ANAGX	PCMNX	DLTNX	MDMTX	MSTBX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Value 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 Value'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
ANAGX	0.17	(0.01)	(0.41)	(0.63)	0.16	(0.27)	0.44	(0.29)	1.16
PCMNX	0.15	0.00	(0.25)	0.05	0.22	(0.17)	0.25	(0.33)	1.32
DLTNX	0.21	(0.01)	(0.32)	(0.05)	0.24	(0.27)	0.58	(0.46)	1.50
MDMTX	0.19	0.00	(0.20)	0.06	0.25	(0.26)	0.48	(0.56)	1.72
MSTBX	0.10	0.00	(0.55)	0.00	0.03	(0.15)	0.21	(0.21)	0.62

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