Fidelity Covington Financials
| FRNW Etf | USD 14.68 0.25 1.73% |
Net Expense Ratio 0.0039 | 3 y Sharp Ratio (0.66) |
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 Fidelity Investments space in which it operates.
Please note, the imprecision that can be found in Fidelity Covington's accounting process means that the reasonable investor should take a skeptical approach toward the financial statement analysis of Fidelity Covington Trust. Check Fidelity Covington's Beneish M Score to see the likelihood of Fidelity Covington's management manipulating its earnings.
Fidelity Covington Etf Summary
Fidelity Covington competes with Fidelity Covington, Fidelity Covington, Fidelity Covington, and Fidelity Crypto. The fund normally invests at least 80 percent of assets in securities included in the index and in depositary receipts representing securities included in the index. Fidelity Clean is traded on BATS Exchange in the United States.| Instrument | USA Etf View All |
| Exchange | BATS Exchange |
| Region | Global |
| Investment Issuer | Fidelity |
| Etf Family | Fidelity Investments |
| Fund Category | Strategy |
| Portfolio Concentration | Theme |
| Benchmark | Dow Jones Industrial |
| Phone | NA |
| Currency | USD - US Dollar |
Fidelity Covington Key Financial Ratios
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 beta as compared to similar ETFs. It also is one of the top ETFs in one year return as compared to similar ETFs . 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.
Incorrect Input. Please change your parameters or increase the time horizon required for running this function. The output start index for this execution was zero with a total number of output elements of zero. 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.
Steps to analyze company Financials for Investing
There are several different ways that investors can use financial statements to try and predict whether a stock price will go up or down. Unfortunately, there is no surefire formula, but there are some general guidelines you should consider when looking at the numbers. First, realize what kind of company it is so you know if its revenues are more likely to grow or shrink over time. For example, a software company's revenue is expected to increase yearly due to new products and services that its customers will want to buy. At the same time, a car manufacturer might not be able to sell as many cars when the economy slows down, so it would have less net income during those times. Second, pay attention to its debt-to-equity ratio because this number will tell you how much risk it has. If a company such as Fidelity Covington is not taking on any additional risks, its debt-to-equity should be less than one. As a general rule of thumb, if the market value or book value (which can be found in the footnotes) of assets exceeds the company's liabilities, then it is probably in good shape. Finally, use other financial statements to determine if a stock price will go up or down because investors are always looking for growth opportunities when they buy new stocks. For example, if you see that the net revenue of Fidelity has grown by more than 25% over the last five years, then there is a good chance that it will continue growing by at least 20% or more each year. On the other hand, if you see that net revenue has only increased by about 15%, which is barely above inflation levels, then chances are it will not grow much faster than this over time, and investors may shy away from buying it. In summary, you can determine if Fidelity Covington's financials are consistent with your investment objective using the following steps:- Review Fidelity Covington's balance sheet accounts, such as liabilities and equity, to understand its overall financial position.
- Analyze the income statement and examine the company's revenue, expenses, and profits over time to determine its financial performance.
- Study the cash flow inflows and outflows to understand Fidelity Covington's liquidity and solvency.
- Look at the growth rates in revenue, earnings, and cash flow over time to determine its potential for future growth.
- Compare Fidelity Covington's financials to those of its peers to see how it stacks up and identify any potential red flags.
- Use valuation ratios to evaluate the company's financials using commonly used ratios such as the price-to-earnings (P/E) ratio, price-to-sales (P/S) ratio, and enterprise value-to-earnings before interest, taxes, depreciation, and amortization (EV/EBITDA) ratio to determine if Fidelity Covington's stock is overvalued or undervalued.
Fidelity Covington Thematic Clasifications
Fidelity Covington Trust is part of several thematic ideas from Strategy ETFs to Theme 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 28, 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.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 11.52 | |||
| Value At Risk | (2.84) | |||
| Potential Upside | 2.37 |
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 board of governors. You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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.