Fidelity Covington Trust Etf Performance
| FRNW Etf | USD 14.68 0.25 1.73% |
The etf shows a Beta (market volatility) of -0.0952, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fidelity Covington are expected to decrease at a much lower rate. During the bear market, Fidelity Covington is likely to outperform the market.
Risk-Adjusted Performance
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Over the last 90 days Fidelity Covington Trust has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, Fidelity Covington is not utilizing all of its potentials. The latest stock price fuss, may contribute to near-short-term losses for the sophisticated investors. ...more
1 | GE Vernovas Gas Power Services Underappreciated Poised For Growth Analyst | 09/17/2024 |
| In Threey Sharp Ratio | -0.66 |
Fidelity |
Fidelity Covington Relative Risk vs. Return Landscape
If you would invest 1,519 in Fidelity Covington Trust on August 30, 2024 and sell it today you would lose (51.00) from holding Fidelity Covington Trust or give up 3.36% of portfolio value over 90 days. Fidelity Covington Trust is currently does not generate positive expected returns and assumes 1.7531% risk (volatility on return distribution) over the 90 days horizon. In different words, 15% of etfs are less volatile than Fidelity, and 99% of all traded equity instruments are projected to make higher returns than the company over the 90 days investment horizon. Expected Return |
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Fidelity Covington Market Risk Analysis
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Covington's investment risk. Standard deviation is the most common way to measure market volatility of etfs, such as Fidelity Covington Trust, and traders can use it to determine the average amount a Fidelity Covington's price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.
Sharpe Ratio = -0.0221
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| Negative Returns | FRNW |
Estimated Market Risk
| 1.75 actual daily | 15 85% of assets are more volatile |
Expected Return
| -0.04 actual daily | 0 Most of other assets have higher returns |
Risk-Adjusted Return
| -0.02 actual daily | 0 Most of other assets perform better |
Based on monthly moving average Fidelity Covington is not performing at its full potential. However, if added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Fidelity Covington by adding Fidelity Covington to a well-diversified portfolio.
Fidelity Covington Fundamentals Growth
Fidelity Etf prices reflect investors' perceptions of the future prospects and financial health of Fidelity Covington, and Fidelity Covington fundamentals are critical determinants of its market performance. Overall, investors pay close attention to revenue and earnings growth, profit margins, and debt levels. These fundamentals can have a significant impact on Fidelity Etf performance.
| Total Asset | 35.09 M | |||
About Fidelity Covington Performance
Evaluating Fidelity Covington's performance through its fundamental ratios, provides valuable insights into its operational efficiency and profitability. For instance, if Fidelity Covington has a high ROA and ROE, it suggests that the company is efficiently using its assets and equity to generate substantial profits, making it an attractive investment. Conversely, if Fidelity Covington has a low ROA and ROE, it may indicate underlying issues in asset and equity management, signaling a need for operational improvements. Please also refer to our technical analysis and fundamental analysis pages.
The fund normally invests at least 80 percent of assets in securities included in the index and in depositary receipts representing securities included in the index. Fidelity Clean is traded on BATS Exchange in the United States.| Fidelity Covington generated a negative expected return over the last 90 days | |
| The fund created three year return of -18.0% | |
| Fidelity Covington Trust retains 99.91% of its assets under management (AUM) in equities |
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Covington Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
The market value of Fidelity Covington Trust 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 Covington's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Covington'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 Covington's market value can be influenced by many factors that don't directly affect Fidelity Covington'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 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.