Fidelity Covington Semi Variance
| FELC ETF | | | 41.15 0.31 0.76% |
Semi-variance provides a good measure of downside volatility for equity or a portfolio. It is similar to variance, but it only looks at periods where the returns are less than the target or average level. Below is Fidelity Covington's current Semi Variance with peer comparisons and related risk metrics.
Current Semi Variance Value
Fidelity Covington carries a Semi Variance of 0.5802, consistent with low price variability. This places Fidelity Covington at the lower end of the volatility range for ETF.
Semi Variance | = | SUM(RET DEV)2N(ZERO) |
| = | 0.5802 | |
| SUM | = | Summation notation |
| RET DEV | = | Actual return deviation over selected period |
| N(ZERO) | = | Number of points with returns less than zero |
Semi Variance Peers Comparison
The peer group averages 1.29 for Semi Variance, with Fidelity Covington at 0.5802 falling below that level. Readings span 0.3746 (WisdomTree LargeCap Dividend) to 3.34 (First Trust RBA). Fidelity Covington has exhibited less price dispersion than the peer average over the measured period.
Semi Variance Relative To Other Indicators
The chart below plots Semi Variance against Maximum Drawdown for Fidelity Covington and its peers. Each point represents one equity — position along the horizontal axis shows Semi Variance while the vertical axis shows Maximum Drawdown. Equities that cluster in different quadrants carry distinct risk-return profiles. Use the dropdowns to swap in other indicators for either axis.
With Semi Variance at
0.58 and Maximum Drawdown at
3.68 , Fidelity Covington shows a
6.35 -to-one ratio between these indicators. This indicates Maximum Drawdown substantially exceeds Semi Variance for Fidelity Covington.
Methodology, Assumptions & Data Sources
Fidelity Covington's Semi Variance currently stands at 0.5802. The Semi Variance for Fidelity Covington applies a standardized calculation to daily closing prices and, where applicable, volume data across the selected period. Inputs are drawn from end-of-day closing prices reported by supported exchanges, adjusted for splits and dividends where applicable. The output reflects the selected calculation window — changing the horizon will produce different readings. This ETF metric is provided for analytical reference.
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