Fidelity Corporate Bond Etf Market Value
| FCOR Etf | USD 46.85 0.01 0.02% |
| Symbol | Fidelity |
The market value of Fidelity Corporate Bond 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 Corporate's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Corporate'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 Corporate's market value can be influenced by many factors that don't directly affect Fidelity Corporate'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 Corporate's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Corporate is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Corporate'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.
Fidelity Corporate 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Fidelity Corporate's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Fidelity Corporate.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Fidelity Corporate on May 27, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Corporate Bond or generate 0.0% return on investment in Fidelity Corporate over 180 days. Fidelity Corporate is related to or competes with Fidelity Limited, Fidelity Total, Fidelity High, Fidelity Low, and Fidelity Momentum. Normally, the fund invests at least 80 percent of its assets in investment-grade corporate bonds and other corporate deb... More
Fidelity Corporate Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Fidelity Corporate's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Fidelity Corporate Bond upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.36) | |||
| Maximum Drawdown | 2.24 | |||
| Value At Risk | (0.68) | |||
| Potential Upside | 0.5264 |
Fidelity Corporate Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Corporate's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Corporate's standard deviation. In reality, there are many statistical measures that can use Fidelity Corporate historical prices to predict the future Fidelity Corporate's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.08) | |||
| Treynor Ratio | 1.41 |
Fidelity Corporate Bond Backtested Returns
Fidelity Corporate Bond secures Sharpe Ratio (or Efficiency) of -0.065, which denotes the etf had a -0.065% return per unit of risk over the last 3 months. Fidelity Corporate Bond exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity Corporate's Standard Deviation of 0.3695, variance of 0.1365, and Mean Deviation of 0.2606 to check the risk estimate we provide. The etf shows a Beta (market volatility) of -0.0234, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fidelity Corporate are expected to decrease at a much lower rate. During the bear market, Fidelity Corporate is likely to outperform the market.
Auto-correlation | -0.74 |
Almost perfect reverse predictability
Fidelity Corporate Bond has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Fidelity Corporate time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Fidelity Corporate Bond price movement. The serial correlation of -0.74 indicates that around 74.0% of current Fidelity Corporate price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.74 | |
| Spearman Rank Test | -0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 0.27 |
Fidelity Corporate Bond lagged returns against current returns
Autocorrelation, which is Fidelity Corporate etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Fidelity Corporate's etf expected returns. We can calculate the autocorrelation of Fidelity Corporate returns to help us make a trade decision. For example, suppose you find that Fidelity Corporate has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Fidelity Corporate regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Fidelity Corporate etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Corporate etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Corporate etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Corporate Lagged Returns
When evaluating Fidelity Corporate's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Corporate etf have on its future price. Fidelity Corporate autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Fidelity Corporate autocorrelation shows the relationship between Fidelity Corporate etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Corporate Bond.
Regressed Prices |
| Timeline |
Pair Trading with Fidelity Corporate
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 Corporate 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 Corporate will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 0.99 | LQD | iShares iBoxx Investment | PairCorr |
| 0.99 | IGIB | iShares 5 10 | PairCorr |
| 0.99 | USIG | iShares Broad USD | PairCorr |
| 0.96 | SPIB | SPDR Barclays Interm | PairCorr |
| 0.99 | SUSC | iShares ESG USD | PairCorr |
Moving against Fidelity Etf
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| 0.68 | HPQ | HP Inc | PairCorr |
The ability to find closely correlated positions to Fidelity Corporate 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 Corporate 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 Corporate - 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 Corporate Bond to buy it.
The correlation of Fidelity Corporate 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 Corporate moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Corporate Bond 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 Corporate 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.Check out Fidelity Corporate Correlation, Fidelity Corporate Volatility and Fidelity Corporate Alpha and Beta module to complement your research on Fidelity Corporate. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Fidelity Corporate technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.