Fidelity Covington Financial Statements From 2010 to 2026
Fidelity Covington's financial statements offer valuable quarterly and annual insights to potential investors, highlighting the company's current and historical financial position, overall management performance, and changes in financial standing over time. Key fundamentals influencing Fidelity Covington's valuation are provided below:Fidelity Covington Trust does not presently have any fundamental signals for analysis.
This module can also supplement various Fidelity Covington Technical models . Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Check Fidelity Covington financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Fidelity Covington's main balance sheet or income statement drivers, such as , as well as many indicators such as . Fidelity financial statements analysis is a perfect complement when working with Fidelity Covington Valuation or Volatility modules.
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Fidelity Covington Trust ETF One Year Return Analysis
Fidelity Covington's One Year Return is the annualized return generated from holding a security for exactly 12 months. The measure is considered to be good short-term measures of fund performance. In other words, it represents the capital appreciation of fund investments over the last year. However when the market is volatile such as in recent years, One Year Return measure can be misleading.
More About One Year Return | All Equity Analysis
One Year Return | = | (Mean of Monthly Returns - 1) | X | 100% |
Current Fidelity Covington One Year Return | 45.00 % |
Most of Fidelity Covington's fundamental indicators, such as One Year Return, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Fidelity Covington Trust is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Although One Year Fund Return indicator can give a sense of overall fund short-term potential, it is recommended to look at mid and long term return measure before selecting a particular fund or ETF. The great way to validate fund short-term performance is to compare it with other similar funds or ETFs for the same 12 months interval.
CompetitionBased on the recorded statements, Fidelity Covington Trust has an One Year Return of 45.0%. This is much higher than that of the family and significantly higher than that of the Diversified Emerging Mkts category. The one year return for all United States etfs is notably lower than that of the firm.
About Fidelity Covington Financial Statements
Fidelity Covington shareholders use historical fundamental indicators, such as revenue or net income, to determine how well the company is positioned to perform in the future. Although Fidelity Covington investors may analyze each financial statement separately, they are all interrelated. The changes in Fidelity Covington's assets and liabilities, for example, are also reflected in the revenues and expenses on on Fidelity Covington's income statement. Understanding these patterns can help investors time the market effectively. Please read more on our fundamental analysis page.
Pair Trading with Fidelity Covington
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Fidelity Covington position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Fidelity Covington will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 0.69 | VWO | Vanguard FTSE Emerging | PairCorr |
| 0.66 | IEMG | iShares Core MSCI | PairCorr |
| 0.8 | EMC | Global X Funds | PairCorr |
| 0.66 | EEM | iShares MSCI Emerging | PairCorr |
| 0.69 | SPEM | SPDR Portfolio Emerging | PairCorr |
The ability to find closely correlated positions to Fidelity Covington could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fidelity Covington when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fidelity Covington - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fidelity Covington Trust to buy it.
The correlation of Fidelity Covington 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Covington moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Covington Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Fidelity Covington can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of Fidelity Covington Correlation against competitors. You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
The market value of Fidelity Covington Trust is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Covington's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Covington's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Fidelity Covington's market value can be influenced by many factors that don't directly affect Fidelity Covington's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Fidelity Covington's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Covington is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Covington's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.