Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FCPVX Fund  USD 19.08  0.10  0.52%   
The current 90-days correlation between Fidelity Small Cap and Fidelity Freedom 2015 is 0.88 (i.e., Very poor 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

Almost no diversification

The correlation between Fidelity Small Cap and DJI is 0.92 (i.e., Almost no 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

  0.79FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.74FPXTX Fidelity PennsylvaniaPairCorr
  0.89FQIFX Fidelity Freedom IndexPairCorr
  0.92FQIPX Fidelity Freedom IndexPairCorr
  0.92FQLSX Fidelity Flex FreedomPairCorr
  0.92FRBDX Fidelity Freedom 2070PairCorr
  0.92FRBEX Fidelity Freedom 2070PairCorr
  0.92FRBHX Fidelity Freedom 2070PairCorr
  0.87FRBJX Fidelity Advisor FreedomPairCorr
  0.92FRBLX Fidelity Advisor FreedomPairCorr
  0.91FRBOX Fidelity Advisor FreedomPairCorr
  0.91FRBPX Fidelity Advisor FreedomPairCorr
  0.92FRBQX Fidelity Flex FreedomPairCorr
  0.88FRBUX Fidelity Freedom IndexPairCorr
  0.92FRBVX Fidelity Freedom IndexPairCorr
  0.92FRBWX Fidelity Freedom IndexPairCorr
  0.93FRBYX Fidelity Freedom BlendPairCorr
  0.88FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.7FRASX Fidelity Income ReplPairCorr
  0.92FRCFX Fidelity Freedom BlendPairCorr
  0.93FRCHX Fidelity Freedom BlendPairCorr
  0.93FRCKX Fidelity Freedom BlendPairCorr
  0.93FRCLX Fidelity Freedom BlendPairCorr
  0.93FRCNX Fidelity Freedom BlendPairCorr
  0.92FRCPX Fidelity Freedom BlendPairCorr
  0.92FRCQX Fidelity SustainablePairCorr
  0.88FRCRX Fidelity SustainablePairCorr
  0.92FRCVX Fidelity SustainablePairCorr
  0.92FRCWX Fidelity SustainablePairCorr
  0.93FRCYX Fidelity SustainablePairCorr
  0.88FRDCX Fidelity SustainablePairCorr
  0.92FRDDX Fidelity SustainablePairCorr
  0.92FRDEX Fidelity SustainablePairCorr
  0.94FRGAX Growth Allocation IndexPairCorr
  0.79FRESX Fidelity Real EstatePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.43  0.04  0.18 (0.02) 0.62 
(0.46)
 0.72 
(1.12)
 4.13 
FPURX  0.85 (0.01) 0.00 (0.14) 0.00 
 0.00 
 1.40 
(1.95)
 7.88 
FPUKX  0.85 (0.01) 0.00 (0.14) 0.00 
 0.00 
 1.41 
(1.99)
 7.80 
FPXTX  0.27 (0.05) 0.00  0.50  0.00 
 0.00 
 0.39 
(0.98)
 2.77 
FQIFX  0.57  0.04  0.00 (0.04) 0.00 
 0.00 
 1.00 
(1.33)
 5.82 
FQIPX  0.94  0.08  0.00 (0.03) 0.00 
 0.00 
 1.83 
(2.30)
 9.82 
FQITX  0.92  0.15  0.12  0.08  1.41 
(0.96)
 1.85 
(1.68)
 8.97 
FQLSX  0.99  0.09  0.00 (0.03) 0.00 
 0.00 
 1.89 
(2.51)
 10.31 
FRBDX  0.99  0.09  0.00 (0.03) 0.00 
 0.00 
 1.86 
(2.49)
 10.25 
FRBEX  0.99  0.09  0.00 (0.03) 0.00 
 0.00 
 1.96 
(2.49)
 10.25 

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