Fidelity Global Modity Fund Market Value
| FCGCX Fund | USD 18.87 0.04 0.21% |
| Symbol | Fidelity |
Fidelity Global '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 Global's mutual 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 Global.
| 03/01/2023 |
| 04/24/2024 |
If you would invest 0.00 in Fidelity Global on March 1, 2023 and sell it all today you would earn a total of 0.00 from holding Fidelity Global Modity or generate 0.0% return on investment in Fidelity Global over 420 days. Fidelity Global is related to or competes with Materials Portfolio, Fidelity Natural, Utilities Portfolio, Automotive Portfolio, and Insurance Portfolio. The fund invests in securities issued throughout the world More
Fidelity Global 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 Global's mutual 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 Global Modity upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9778 | |||
| Information Ratio | 0.1173 | |||
| Maximum Drawdown | 4.39 | |||
| Value At Risk | (1.46) | |||
| Potential Upside | 1.41 |
Fidelity Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Global's standard deviation. In reality, there are many statistical measures that can use Fidelity Global historical prices to predict the future Fidelity Global's volatility.| Risk Adjusted Performance | 0.1362 | |||
| Jensen Alpha | 0.1993 | |||
| Total Risk Alpha | 0.0689 | |||
| Sortino Ratio | 0.1083 | |||
| Treynor Ratio | (1.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity Global's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Fidelity Global Modity Backtested Returns
We consider Fidelity Global very steady. Fidelity Global Modity secures Sharpe Ratio (or Efficiency) of 0.19, which denotes the fund had a 0.19% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Fidelity Global Modity, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Global's Mean Deviation of 0.6899, coefficient of variation of 462.73, and Downside Deviation of 0.9778 to check if the risk estimate we provide is consistent with the expected return of 0.18%. The fund shows a Beta (market volatility) of -0.18, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fidelity Global are expected to decrease at a much lower rate. During the bear market, Fidelity Global is likely to outperform the market.
Auto-correlation | 0.12 |
Insignificant predictability
Fidelity Global Modity has insignificant predictability. Overlapping area represents the amount of predictability between Fidelity Global time series from 1st of March 2023 to 27th of September 2023 and 27th of September 2023 to 24th of April 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 Global Modity price movement. The serial correlation of 0.12 indicates that less than 12.0% of current Fidelity Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.49 |
Fidelity Global Modity lagged returns against current returns
Autocorrelation, which is Fidelity Global mutual 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 Global's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Global returns to help us make a trade decision. For example, suppose you find that Fidelity Global has exhibited high autocorrelation historically, and you observe that the mutual 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 Global 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 Global mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Global mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Global mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Global Lagged Returns
When evaluating Fidelity Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Global mutual fund have on its future price. Fidelity Global 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 Global autocorrelation shows the relationship between Fidelity Global mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Global Modity.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectCheck out Fidelity Global Correlation, Fidelity Global Volatility and Fidelity Global Alpha and Beta module to complement your research on Fidelity Global. Note that the Fidelity Global Modity information on this page should be used as a complementary analysis to other Fidelity Global's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Fidelity Global technical mutual fund 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, fund market cycles, or different charting patterns.