Fidelity Covington Financials
| FMDE Etf | 34.97 0.40 1.16% |
Net Expense Ratio 0.0023 | 3 y Sharp Ratio 0.2 |
Fidelity |
The data published in Fidelity Covington's official financial statements typically reflect Fidelity Covington's business processes, product offerings, services, and other fundamental events. However, there are additional fundamental indicators that are easier to understand and visualize along the underlying realities that are driving Fidelity Covington's quantitative information. For example, before you start analyzing numbers published by Fidelity accountants, it's essential to understand Fidelity Covington's liquidity, profitability, and earnings quality within the context of the Mid-Cap Blend space in which it operates.
Please note, the presentation of Fidelity Covington's financial position, as portrayed in its financial statements, is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Fidelity Covington's management is honest, while the outside auditors are strict and uncompromising. Please utilize our Beneish M Score to check the likelihood of Fidelity Covington's management manipulating its earnings.
Fidelity Covington Etf Summary
Fidelity Covington competes with JPMorgan Fundamental, Vanguard Mid, SPDR SP, SPDR SP, and Direxion Daily. Fidelity Covington is entity of United States. It is traded as Etf on NYSE ARCA exchange.| Instrument | USA Etf View All |
| Exchange | NYSE ARCA Exchange |
| CUSIP | 31609A503 |
| Region | Global |
| Investment Issuer | Fidelity |
| Fund Category | Size and Style |
| Portfolio Concentration | Mid Cap |
| Benchmark | Dow Jones Industrial |
Fidelity Financial Ratios Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Fidelity Covington's current stock value. Our valuation model uses many indicators to compare Fidelity Covington value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Fidelity Covington competition to find correlations between indicators driving Fidelity Covington's intrinsic value. More Info.Fidelity Covington Trust is one of the top ETFs in one year return as compared to similar ETFs. It also is one of the top ETFs in three year return as compared to similar ETFs reporting about 0.22 of Three Year Return per One Year Return. The ratio of One Year Return to Three Year Return for Fidelity Covington Trust is roughly 4.56 . Comparative valuation analysis is a catch-all technique that is used if you cannot value Fidelity Covington by discounting back its dividends or cash flows. It compares the stock's price multiples to nearest competition to determine if the stock is relatively undervalued or overvalued.Fidelity Covington Trust Systematic Risk
Fidelity Covington's systematic risk plays a vital role in portfolio allocation when considering its stock to be added to a well-diversified portfolio. Fidelity Covington volatility which cannot be eliminated through diversification, requires returns over the risk-free rate. Over the long run, a well-diversified portfolio provides returns that match its exposure to systematic risk. In this case, investors face a trade-off between expected returns and systematic risk and, therefore, can only reduce a portfolio's exposure to systematic risk by sacrificing expected returns on the portfolio.
The output start index for this execution was three with a total number of output elements of fifty-eight. The Beta measures systematic risk based on how returns on Fidelity Covington Trust correlated with the market. If Beta is less than 0 Fidelity Covington generally moves in the opposite direction as compared to the market. If Fidelity Covington Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one Fidelity Covington Trust is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of Fidelity Covington is generally in the same direction as the market. If Beta > 1 Fidelity Covington moves generally in the same direction as, but more than the movement of the benchmark.
About Fidelity Covington Financials
What exactly are Fidelity Covington Financials? Typically, a company's financial statements are the reports that show the financial position of the company. Three primary documents fall into the category of financial statements. These documents include Fidelity Covington's income statement, its balance sheet, and the statement of cash flows. Potential Fidelity Covington investors and stakeholders use financial statements to determine how well the company is positioned to perform in the future. Although Fidelity Covington investors may use each financial statement separately, they are all related. The changes in Fidelity Covington's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on Fidelity Covington's income statement, which results in the company's gains or losses. Cash flows can provide more information regarding cash listed on a balance sheet, but not equivalent to net income shown on the income statement. Please read more on our technical analysis and fundamental analysis pages.Fidelity Covington Thematic Clasifications
Fidelity Covington Trust is part of several thematic ideas from Mid Cap ETFs to Size And Style ETFs. If you are a theme-oriented, socially responsible, and at the same time, a result-driven investor, you can align your investing habits with your values without jeopardizing your expectations about returns. You can easily create an optimal portfolio of stocks, ETFs, funds, or cryptocurrencies based on a specific theme of your liking. Get More Thematic IdeasFidelity Covington November 24, 2024 Opportunity Range
Along with financial statement analysis, the daily predictive indicators of Fidelity Covington help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of Fidelity Covington Trust. We use our internally-developed statistical techniques to arrive at the intrinsic value of Fidelity Covington Trust based on widely used predictive technical indicators. In general, we focus on analyzing Fidelity Etf price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Fidelity Covington's daily price indicators and compare them against related drivers.
| Downside Deviation | 0.6767 | |||
| Information Ratio | 0.0898 | |||
| Maximum Drawdown | 3.77 | |||
| Value At Risk | (0.84) | |||
| Potential Upside | 1.47 |
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Covington Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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.