Consumer Staples Correlations

Mutual Funds . USA . 
Fund . Consumer Staples Portfolio
FDFAX Fund  USD 83.38  0.09  0.11%   
The current 90-days correlation between Consumer Staples Por and Consumer Discretionary Portfolio is 0.36 (i.e., Weak diversification). The correlation of Consumer Staples 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.

Consumer Staples Correlation With Market

Very weak diversification

The correlation between Consumer Staples Portfolio and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Staples Portfolio 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 Consumer Staples Portfolio. 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 nation.

Moving against Consumer Mutual Fund

  0.68FPXTX Fidelity PennsylvaniaPairCorr
  0.56FQIPX Fidelity Freedom IndexPairCorr
  0.56FQLSX Fidelity Flex FreedomPairCorr
  0.56FRBDX Fidelity Freedom 2070PairCorr
  0.56FRBEX Fidelity Freedom 2070PairCorr
  0.56FRBHX Fidelity Freedom 2070PairCorr
  0.56FRBQX Fidelity Flex FreedomPairCorr
  0.55FPTKX Fidelity Freedom 2015PairCorr
  0.55FQIFX Fidelity Freedom IndexPairCorr
  0.55FRBJX Fidelity Advisor FreedomPairCorr
  0.55FRBKX Fidelity Advisor FreedomPairCorr
  0.55FRBLX Fidelity Advisor FreedomPairCorr
  0.55FRBOX Fidelity Advisor FreedomPairCorr
  0.55FRBPX Fidelity Advisor FreedomPairCorr
  0.53FPURX Fidelity PuritanPairCorr
  0.53FPUKX Fidelity PuritanPairCorr
  0.59FRCQX Fidelity SustainablePairCorr
  0.59FRCRX Fidelity SustainablePairCorr
  0.59FRCVX Fidelity SustainablePairCorr
  0.58FRCKX Fidelity Freedom BlendPairCorr
  0.56FRBUX Fidelity Freedom IndexPairCorr
  0.56FRBVX Fidelity Freedom IndexPairCorr
  0.56FRBWX Fidelity Freedom IndexPairCorr
  0.56FRBYX Fidelity Freedom BlendPairCorr
  0.56FRBZX Fidelity Freedom BlendPairCorr
  0.56FRAGX Aggressive GrowthPairCorr
  0.56FRCFX Fidelity Freedom BlendPairCorr
  0.56FRCHX Fidelity Freedom BlendPairCorr
  0.56FRCPX Fidelity Freedom BlendPairCorr
  0.54FRASX Fidelity Income ReplPairCorr
  0.54FRCNX Fidelity Freedom BlendPairCorr
  0.53FRAMX Fidelity Income ReplPairCorr
  0.51FRCLX Fidelity Freedom BlendPairCorr
  0.68FROGX Fidelity Municipal IncomePairCorr
  0.59FRCWX Fidelity SustainablePairCorr
  0.59FRCYX Fidelity SustainablePairCorr
  0.59FRDCX Fidelity SustainablePairCorr
  0.59FRDDX Fidelity SustainablePairCorr
  0.59FRDEX Fidelity SustainablePairCorr

Related Correlations Analysis


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

FSDPX
+ 0.76
FSCPX
FSUTX
+ 0.67
FCYIX
FSUTX
+ 0.55
FSCPX
FCYIX
+ 0.45
FSCPX
FSDPX
+ 0.13
FCYIX
FSUTX
+ 0.11
FSDPX
  

High negative correlations

FSUTX
- 0.77
FDLSX
FDLSX
- 0.54
FSCPX
FDLSX
- 0.35
FCYIX
FSDPX
- 0.12
FDLSX

Risk-Adjusted Indicators

There is a big difference between Consumer Mutual Fund performing well and Consumer Staples 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 Consumer Staples' 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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