Fidelity Covington Trust Etf Performance
| FMDE Etf | 35.18 0.04 0.11% |
The etf shows a Beta (market volatility) of 0.9, which means possible diversification benefits within a given portfolio. Fidelity Covington returns are very sensitive to returns on the market. As the market goes up or down, Fidelity Covington is expected to follow.
Risk-Adjusted Performance
18 of 100
Weak | Strong |
Solid
Compared to the overall equity markets, risk-adjusted returns on investments in Fidelity Covington Trust are ranked lower than 18 (%) of all global equities and portfolios over the last 90 days. In spite of rather unfluctuating fundamental indicators, Fidelity Covington may actually be approaching a critical reversion point that can send shares even higher in December 2024. ...more
| In Threey Sharp Ratio | 0.20 |
Fidelity |
Fidelity Covington Relative Risk vs. Return Landscape
If you would invest 3,139 in Fidelity Covington Trust on August 30, 2024 and sell it today you would earn a total of 379.00 from holding Fidelity Covington Trust or generate 12.07% return on investment over 90 days. Fidelity Covington Trust is currently generating 0.1812% in daily expected returns and assumes 0.7746% risk (volatility on return distribution) over the 90 days horizon. In different words, 6% of etfs are less volatile than Fidelity, and 97% of all traded equity instruments are projected to make higher returns than the company over the 90 days investment horizon. Expected Return |
| Risk |
Fidelity Covington Market Risk Analysis
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Covington's investment risk. Standard deviation is the most common way to measure market volatility of etfs, such as Fidelity Covington Trust, and traders can use it to determine the average amount a Fidelity Covington's price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.
Sharpe Ratio = 0.234
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| Cash | Small Risk | Average Risk | High Risk | Huge Risk |
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Estimated Market Risk
| 0.77 actual daily | 6 94% of assets are more volatile |
Expected Return
| 0.18 actual daily | 3 97% of assets have higher returns |
Risk-Adjusted Return
| 0.23 actual daily | 18 82% of assets perform better |
Based on monthly moving average Fidelity Covington is performing at about 18% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Fidelity Covington by adding it to a well-diversified portfolio.
Fidelity Covington Fundamentals Growth
Fidelity Etf prices reflect investors' perceptions of the future prospects and financial health of Fidelity Covington, and Fidelity Covington fundamentals are critical determinants of its market performance. Overall, investors pay close attention to revenue and earnings growth, profit margins, and debt levels. These fundamentals can have a significant impact on Fidelity Etf performance.
About Fidelity Covington Performance
By analyzing Fidelity Covington's fundamental ratios, stakeholders can gain valuable insights into Fidelity Covington's financial health, operational efficiency, and overall profitability, helping them make informed investment and management decisions. For instance, if Fidelity Covington has a high ROA and ROE, it suggests that the company is efficiently using its assets and equity to generate substantial profits, making it an attractive investment. Conversely, if Fidelity Covington has a low ROA and ROE, it may indicate underlying issues in asset and equity management, signaling a need for operational improvements.
Fidelity Covington is entity of United States. It is traded as Etf on NYSE ARCA exchange.