Fidelity 500 Correlations

Mutual Funds . USA . 
Fund . Fidelity 500 Index
FXAIX Fund  USD 207.67  0.72  0.35%   
The current 90-days correlation between Fidelity 500 Index and Fidelity Total Market is 1.0 (i.e., No risk reduction). The correlation of Fidelity 500 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 500 Correlation With Market

Good diversification

The correlation between Fidelity 500 Index and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity 500 Index 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 500 Index. 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.99FPURX Fidelity PuritanPairCorr
  0.99FPUKX Fidelity PuritanPairCorr
  0.87FQIPX Fidelity Freedom IndexPairCorr
  0.8FQLSX Fidelity Flex FreedomPairCorr
  0.94FRAGX Aggressive GrowthPairCorr
  0.9FRGAX Growth Allocation IndexPairCorr
  0.87FRLPX Fidelity Freedom IndexPairCorr
  0.71FRPCX Fidelity Sai AlternativePairCorr
  0.77FAASX Fidelity Asset ManagerPairCorr
  0.85FAAIX Fidelity Asset ManagerPairCorr
  0.87FABLX Fidelity Advisor BalancedPairCorr
  0.85FABCX Fidelity Advisor BalancedPairCorr
  0.96FACVX Fidelity ConvertiblePairCorr
  0.87FACPX Fidelity Advisor SumerPairCorr
  0.85FACNX Fidelity CanadaPairCorr
  0.95FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.56FQITX Fidelity Salem StreetPairCorr
  0.31FROGX Fidelity Municipal IncomePairCorr
  0.52FAERX Fidelity Advisor OverseasPairCorr
  0.36FACTX Fidelity Advisor HealthPairCorr
  0.35FACDX Fidelity Advisor HealthPairCorr
  0.34FADCX Fidelity Advisor DivPairCorr
  0.34FAFAX Fidelity Advisor FreedomPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity 500 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 500'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.

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