Fidelity Large Correlations

FCLKX Fund

USD 13.84 0.29 2.05%

The current 90-days correlation between Fidelity Large Cap and Pnc International Equity is -0.14 (i.e., Good diversification). The correlation of Fidelity Large 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Fidelity Large Correlation With Market

Good diversification

The correlation between Fidelity Large Cap and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Large Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Large Cap. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Fidelity Mutual Fund

0.66	FPTKX	Fidelity Freedom 2015	Pair Corr
0.89	FPURX	Fidelity Puritan	Pair Corr
0.88	FPUKX	Fidelity Puritan	Pair Corr
0.72	FQIFX	Fidelity Freedom Index	Pair Corr
0.84	FQIPX	Fidelity Freedom Index	Pair Corr
0.79	FQLSX	Fidelity Flex Freedom	Pair Corr
0.79	FRBEX	Fidelity Freedom 2070	Pair Corr
0.79	FRBHX	Fidelity Freedom 2070	Pair Corr
0.79	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.79	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.79	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.78	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.79	FRBUX	Fidelity Freedom Index	Pair Corr
0.78	FRBVX	Fidelity Freedom Index	Pair Corr
0.78	FRBWX	Fidelity Freedom Index	Pair Corr
0.81	FRAGX	Aggressive Growth	Pair Corr
0.79	FRCHX	Fidelity Freedom Blend	Pair Corr
0.79	FRCLX	Fidelity Freedom Blend	Pair Corr
0.79	FRCNX	Fidelity Freedom Blend	Pair Corr
0.79	FRCPX	Fidelity Freedom Blend	Pair Corr
0.79	FRCVX	Fidelity Sustainable	Pair Corr
0.8	FRCWX	Fidelity Sustainable	Pair Corr
0.8	FRCYX	Fidelity Sustainable	Pair Corr
0.79	FRDEX	Fidelity Sustainable	Pair Corr
0.8	FRGAX	Growth Allocation Index	Pair Corr
0.78	FRLPX	Fidelity Freedom Index	Pair Corr

Moving against Fidelity Mutual Fund

0.37

FRPDX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	PMIEX	DHGCX	PWITX	MSTFX	RTIUX	DDCFX	LOGRX
PMIEX		0.24	0.78	0.96	0.98	0.12	0.0	PMIEX
DHGCX	0.24		0.39	0.32	0.32	0.63	0.0	DHGCX
PWITX	0.78	0.39		0.91	0.88	0.57	0.0	PWITX
MSTFX	0.96	0.32	0.91		0.99	0.33	0.0	MSTFX
RTIUX	0.98	0.32	0.88	0.99		0.27	0.0	RTIUX
DDCFX	0.12	0.63	0.57	0.33	0.27		0.0	DDCFX
LOGRX	0.0	0.0	0.0	0.0	0.0	0.0		LOGRX
	PMIEX	DHGCX	PWITX	MSTFX	RTIUX	DDCFX	LOGRX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RTIUX	+ 0.99	MSTFX
RTIUX	+ 0.98	PMIEX
MSTFX	+ 0.96	PMIEX
MSTFX	+ 0.91	PWITX
RTIUX	+ 0.88	PWITX
PWITX	+ 0.78	PMIEX

High negative correlations

LOGRX	- 0.0	DDCFX
LOGRX	- 0.0	RTIUX
LOGRX	- 0.0	MSTFX
LOGRX	- 0.0	PWITX
LOGRX	- 0.0	DHGCX
LOGRX	- 0.0	PMIEX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Large Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Fidelity Large's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PMIEX	0.93	0.12	0.00	(0.02)	0.00	0.00	1.93	(2.33)	8.62
DHGCX	0.20	0.01	0.55	0.00	0.28	(0.21)	0.47	(0.42)	1.39
PWITX	0.82	0.22	0.18	0.16	1.37	(0.81)	1.72	(1.52)	8.64
MSTFX	0.95	0.15	0.13	0.03	1.45	(0.93)	1.71	(2.04)	8.05
RTIUX	0.86	0.13	0.12	0.03	1.52	(0.80)	1.58	(1.99)	8.52
DDCFX	0.23	0.01	0.59	(0.69)	0.24	(0.27)	0.55	(0.43)	1.62
LOGRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC