Fidelity Covington Potential Upside
| FLRG ETF | | | USD 40.46 0.24 0.60% |
Potential Upside is the amount of upward price movement an investor or an analyst expects of a particular equity instrument. Below is Fidelity Covington's current Potential Upside with peer comparisons and related risk metrics.
Current Potential Upside Value
Fidelity Covington carries a Potential Upside of 1.2, consistent with modest estimated upside from current levels. Fidelity Covington trades near but slightly below the model-derived fair value estimate.
Potential Upside | = | 1PM2PM |
| = | 1.2 | |
| 1PM | = | First upper moment |
| 2PM | = | Second upper moment |
Potential Upside Peers Comparison
Fidelity Covington falls below the 2.58 peer average for Potential Upside. MicroSectors Big Banks leads at 7.71 while Fairlead Tactical Sector registers the lowest at 1.18. Fidelity Covington shows less estimated upside from current levels than the peer average.
Potential Upside Relative To Other Indicators
The chart below plots Potential Upside against Maximum Drawdown for Fidelity Covington and its peers. Each point represents one equity — position along the horizontal axis shows Potential Upside 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.
Fidelity Covington records a Potential Upside of
1.20 and a Maximum Drawdown of
3.10 , yielding roughly
2.57 units of Maximum Drawdown per Potential Upside. This indicates Maximum Drawdown is significantly higher than Potential Upside for Fidelity Covington.
Methodology, Assumptions & Data Sources
The current Potential Upside for Fidelity Covington is 1.2. This Potential Upside reading for Fidelity Covington results from applying the indicator's calculation rules to price and volume data over the selected window. Data sources include daily closing prices from supported exchanges, with standard corporate action adjustments applied. Results are based on historical returns and do not predict future performance. This indicator is provided for informational purposes.
Other Technical Indicators