Fidelity Technology Innovators Fund Chance Of Distress
| 0P000070JI | CAD 104.46 0.84 0.80% |
Fidelity |
Fidelity Technology Innovators Fund chance of distress Analysis
Fidelity Technology's Probability Of Bankruptcy is a relative measure of the likelihood of financial distress. For stocks, the Probability Of Bankruptcy is the normalized value of Z-Score. For funds and ETFs, it is derived from a multi-factor model developed by Macroaxis. The score is used to predict the probability of a firm or a fund experiencing financial distress within the next 24 months. Unlike Z-Score, Probability Of Bankruptcy is the value between 0 and 100, indicating the firm's actual probability it will be financially distressed in the next 2 fiscal years.
More About Probability Of Bankruptcy | All Equity Analysis
Probability Of Bankruptcy | = | Normalized | | Z-Score |
Current Fidelity Technology Probability Of Bankruptcy | Less than 18% |
Most of Fidelity Technology's fundamental indicators, such as Probability Of Bankruptcy, 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 Technology Innovators is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Our calculation of Fidelity Technology probability of bankruptcy is based on Altman Z-Score and Piotroski F-Score, but not limited to these measures. To be applied to a broader range of industries and markets, we use several other techniques to enhance the accuracy of predicting Fidelity Technology odds of financial distress. These include financial statement analysis, different types of price predictions, earning estimates, analysis consensus, and basic intrinsic valuation. Please use the options below to get a better understanding of different measures that drive the calculation of Fidelity Technology Innovators financial health.
The Probability of Bankruptcy SHOULD NOT be confused with the actual chance of a company to file for chapter 7, 11, 12, or 13 bankruptcy protection. Macroaxis simply defines Financial Distress as an operational condition where a company is having difficulty meeting its current financial obligations towards its creditors or delivering on the expectations of its investors. Macroaxis derives these conditions daily from both public financial statements as well as analysis of stock prices reacting to market conditions or economic downturns, including short-term and long-term historical volatility. Other factors taken into account include analysis of liquidity, revenue patterns, R&D expenses, and commitments, as well as public headlines and social sentiment.
| Competition |
Based on the latest financial disclosure, Fidelity Technology Innovators has a Probability Of Bankruptcy of 18.0%. This is much higher than that of the Fidelity Investments Canada ULC family and significantly higher than that of the Sector Equity category. The probability of bankruptcy for all Canada funds is notably lower than that of the firm.
Fidelity Probability Of Bankruptcy Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Fidelity Technology's direct or indirect competition against its Probability Of Bankruptcy to detect undervalued stocks with similar characteristics or determine the funds which would be a good addition to a portfolio. Peer analysis of Fidelity Technology could also be used in its relative valuation, which is a method of valuing Fidelity Technology by comparing valuation metrics of similar companies.Fidelity Technology is rated below average in probability of bankruptcy among similar funds.
Fidelity Fundamentals
| Total Asset | 237.51 M | |||
| One Year Return | 13.51 % | |||
| Three Year Return | 16.83 % | |||
| Five Year Return | 19.80 % | |||
| Ten Year Return | 17.52 % | |||
| Net Asset | 237.51 M | |||
| Minimum Initial Investment | 500 | |||
| Cash Position Weight | 2.05 % | |||
| Equity Positions Weight | 97.90 % | |||
| Bond Positions Weight | 0.05 % |
About Fidelity Technology Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Fidelity Technology Innovators's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Fidelity Technology using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Fidelity Technology Innovators based on its fundamental data. In general, a quantitative approach, as applied to this fund, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Fidelity Technology
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 Technology 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 Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Fund
| 0.89 | 0P0001FKWD | CI Signature Cat | PairCorr |
| 0.9 | 0P0001AAKP | CI Signature Cat | PairCorr |
| 0.9 | 0P000070HA | CI Global Alpha | PairCorr |
| 0.97 | 0P0000733H | RBC Global Technology | PairCorr |
Moving against Fidelity Fund
| 0.79 | 0P000070H9 | CI Global Health | PairCorr |
The ability to find closely correlated positions to Fidelity Technology 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 Technology 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 Technology - 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 Technology Innovators to buy it.
The correlation of Fidelity Technology 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 Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Technology 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 Technology 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.Other Information on Investing in Fidelity Fund
Fidelity Technology financial ratios help investors to determine whether Fidelity Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Fidelity with respect to the benefits of owning Fidelity Technology security.
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