Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FCPVX Fund  USD 20.51  0.12  0.58%   
The current 90-days correlation between Fidelity Small Cap and Fidelity Small Cap is 0.9 (i.e., Almost no diversification). 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 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 Small Correlation With Market

Very poor diversification

The correlation between Fidelity Small Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small 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 Small 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 real.

Moving together with Fidelity Mutual Fund

  0.93FPTKX Fidelity Freedom 2015PairCorr
  0.95FPURX Fidelity PuritanPairCorr
  0.95FPUKX Fidelity PuritanPairCorr
  0.76FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.82FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.95FRBDX Fidelity Freedom 2070PairCorr
  0.95FRBEX Fidelity Freedom 2070PairCorr
  0.95FRBHX Fidelity Freedom 2070PairCorr
  0.95FRBJX Fidelity Advisor FreedomPairCorr
  0.95FRBKX Fidelity Advisor FreedomPairCorr
  0.95FRBLX Fidelity Advisor FreedomPairCorr
  0.95FRBOX Fidelity Advisor FreedomPairCorr
  0.95FRBPX Fidelity Advisor FreedomPairCorr
  0.95FRBQX Fidelity Flex FreedomPairCorr
  0.95FRBUX Fidelity Freedom IndexPairCorr
  0.95FRBVX Fidelity Freedom IndexPairCorr
  0.95FRBWX Fidelity Freedom IndexPairCorr
  0.95FRBYX Fidelity Freedom BlendPairCorr
  0.95FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.91FRAMX Fidelity Income ReplPairCorr
  0.93FRASX Fidelity Income ReplPairCorr
  0.95FRCFX Fidelity Freedom BlendPairCorr
  0.95FRCHX Fidelity Freedom BlendPairCorr
  0.95FRCKX Fidelity Freedom BlendPairCorr
  0.95FRCLX Fidelity Freedom BlendPairCorr
  0.95FRCNX Fidelity Freedom BlendPairCorr
  0.95FRCPX Fidelity Freedom BlendPairCorr
  0.95FRCQX Fidelity SustainablePairCorr
  0.95FRCRX Fidelity SustainablePairCorr
  0.95FRCVX Fidelity SustainablePairCorr
  0.95FRCWX Fidelity SustainablePairCorr
  0.95FRCYX Fidelity SustainablePairCorr
  0.95FRDCX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr
  0.93FRDEX Fidelity SustainablePairCorr
  0.95FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Small 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 Small'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.

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