Fidelity Small Cap Fund Market Value
| FID661 Fund | 4.06 0.02 0.50% |
| Symbol | Fidelity |
Fidelity Small '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 Small's fund 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 Small.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Fidelity Small on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Small Cap or generate 0.0% return on investment in Fidelity Small over 30 days.
Fidelity Small 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 Small's fund 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 Small Cap upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3575 | |||
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 1.52 | |||
| Value At Risk | (0.50) | |||
| Potential Upside | 0.5051 |
Fidelity Small Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Small's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Small's standard deviation. In reality, there are many statistical measures that can use Fidelity Small historical prices to predict the future Fidelity Small's volatility.| Risk Adjusted Performance | 0.107 | |||
| Jensen Alpha | 0.0275 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.23) | |||
| Treynor Ratio | 0.3438 |
Fidelity Small Cap Backtested Returns
At this point, Fidelity Small is very steady. Fidelity Small Cap secures Sharpe Ratio (or Efficiency) of 0.16, which denotes the fund had a 0.16% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Fidelity Small Cap, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Small's Downside Deviation of 0.3575, coefficient of variation of 641.83, and Mean Deviation of 0.2866 to check if the risk estimate we provide is consistent with the expected return of 0.0563%. The fund shows a Beta (market volatility) of 0.13, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity Small's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Small is expected to be smaller as well.
Auto-correlation | 0.70 |
Good predictability
Fidelity Small Cap has good predictability. Overlapping area represents the amount of predictability between Fidelity Small time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Small Cap price movement. The serial correlation of 0.7 indicates that around 70.0% of current Fidelity Small price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.7 | |
| Spearman Rank Test | 0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fidelity Small Cap lagged returns against current returns
Autocorrelation, which is Fidelity Small fund'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 Small's fund expected returns. We can calculate the autocorrelation of Fidelity Small returns to help us make a trade decision. For example, suppose you find that Fidelity Small has exhibited high autocorrelation historically, and you observe that the fund 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 Small 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 Small fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Small fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Small fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Small Lagged Returns
When evaluating Fidelity Small's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Small fund have on its future price. Fidelity Small 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 Small autocorrelation shows the relationship between Fidelity Small fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Small Cap.
Regressed Prices |
| Timeline |
Pair Trading with Fidelity Small
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 Small 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 Small will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Fund
| 0.86 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.88 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.79 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
| 0.9 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
| 0.87 | 0P00012UCU | RBC Global Equity | PairCorr |
The ability to find closely correlated positions to Fidelity Small 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 Small 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 Small - 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 Small Cap to buy it.
The correlation of Fidelity Small 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 Small moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Small Cap 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 Small 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.| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
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