Fidelity Covington Trust Etf Market Value
| FEMR Etf | 35.02 1.08 2.99% |
| Symbol | Fidelity |
Fidelity Covington Trust's market price often diverges from its book value, the accounting figure shown on Fidelity's balance sheet. Smart investors calculate Fidelity Covington's intrinsic value - its true economic worth - which may differ significantly from both market price and book value. Market participants employ diverse analytical approaches to determine fair value and identify buying opportunities when prices dip below calculated worth. Since Fidelity Covington's trading price responds to investor sentiment, macroeconomic conditions, and market psychology, it can swing far from fundamental value.
Please note, there is a significant difference between Fidelity Covington's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Covington is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Covington'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 Covington '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 Covington'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 Covington.
| 12/05/2025 |
| 03/05/2026 |
If you would invest 0.00 in Fidelity Covington on December 5, 2025 and sell it all today you would earn a total of 0.00 from holding Fidelity Covington Trust or generate 0.0% return on investment in Fidelity Covington over 90 days. Fidelity Covington is related to or competes with ProShares Equities, Allspring Exchange, IShares Environmentally, WHITEWOLF Publicly, John Hancock, Harbor ETF, and US Global. Fidelity Covington is entity of United States More
Fidelity Covington 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 Covington'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 Covington Trust upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.36 | |||
| Information Ratio | 0.1469 | |||
| Maximum Drawdown | 8.37 | |||
| Value At Risk | (1.23) | |||
| Potential Upside | 1.82 |
Fidelity Covington Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Covington's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Covington's standard deviation. In reality, there are many statistical measures that can use Fidelity Covington historical prices to predict the future Fidelity Covington's volatility.| Risk Adjusted Performance | 0.1419 | |||
| Jensen Alpha | 0.1858 | |||
| Total Risk Alpha | 0.1561 | |||
| Sortino Ratio | 0.1297 | |||
| Treynor Ratio | 0.2886 |
Fidelity Covington March 5, 2026 Technical Indicators
| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
| Risk Adjusted Performance | 0.1419 | |||
| Market Risk Adjusted Performance | 0.2986 | |||
| Mean Deviation | 0.8213 | |||
| Semi Deviation | 1.11 | |||
| Downside Deviation | 1.36 | |||
| Coefficient Of Variation | 544.4 | |||
| Standard Deviation | 1.2 | |||
| Variance | 1.44 | |||
| Information Ratio | 0.1469 | |||
| Jensen Alpha | 0.1858 | |||
| Total Risk Alpha | 0.1561 | |||
| Sortino Ratio | 0.1297 | |||
| Treynor Ratio | 0.2886 | |||
| Maximum Drawdown | 8.37 | |||
| Value At Risk | (1.23) | |||
| Potential Upside | 1.82 | |||
| Downside Variance | 1.85 | |||
| Semi Variance | 1.23 | |||
| Expected Short fall | (0.91) | |||
| Skewness | (1.77) | |||
| Kurtosis | 8.62 |
Fidelity Covington Trust Backtested Returns
Fidelity Covington appears to be very steady, given 3 months investment horizon. Fidelity Covington Trust secures Sharpe Ratio (or Efficiency) of 0.18, which denotes the etf had a 0.18 % return per unit of risk over the last 3 months. We have found thirty technical indicators for Fidelity Covington Trust, which you can use to evaluate the volatility of the entity. Please utilize Fidelity Covington's Downside Deviation of 1.36, coefficient of variation of 544.4, and Mean Deviation of 0.8213 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 0.73, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fidelity Covington's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Covington is expected to be smaller as well.
Auto-correlation | 0.76 |
Good predictability
Fidelity Covington Trust has good predictability. Overlapping area represents the amount of predictability between Fidelity Covington time series from 5th of December 2025 to 19th of January 2026 and 19th of January 2026 to 5th of March 2026. 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 Covington Trust price movement. The serial correlation of 0.76 indicates that around 76.0% of current Fidelity Covington price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 1.13 |
Pair Trading with Fidelity Covington
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 Covington 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 Covington will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 0.98 | VWO | Vanguard FTSE Emerging | PairCorr |
| 1.0 | IEMG | iShares Core MSCI | PairCorr |
| 0.99 | EMC | Global X Funds | PairCorr |
| 1.0 | EEM | iShares MSCI Emerging | PairCorr |
| 0.98 | SPEM | SPDR Portfolio Emerging | PairCorr |
Moving against Fidelity Etf
The ability to find closely correlated positions to Fidelity Covington 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 Covington 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 Covington - 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 Covington Trust to buy it.
The correlation of Fidelity Covington 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 Covington moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Covington Trust 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 Covington 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 Covington Correlation, Fidelity Covington Volatility and Fidelity Covington Performance module to complement your research on Fidelity Covington. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Fidelity Covington 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.