Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex 500
FDFIX Fund  USD 27.50  0.12  0.43%   
The current 90-days correlation between Fidelity Flex 500 and Fidelity Flex International is 0.67 (i.e., Poor diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Good diversification

The correlation between Fidelity Flex 500 and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Flex 500 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 Flex 500. 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 inflation.

Moving together with Fidelity Mutual Fund

  0.73FPTKX Fidelity Freedom 2015PairCorr
  0.75FPURX Fidelity PuritanPairCorr
  0.73FQIFX Fidelity Freedom IndexPairCorr
  0.75FQIPX Fidelity Freedom IndexPairCorr
  0.97FRBJX Fidelity Advisor FreedomPairCorr
  0.96FRIMX Fidelity Income ReplPairCorr
  0.64FRIOX Fidelity Real EstatePairCorr
  0.72FRKMX Fidelity Managed RetPairCorr
  0.9FRQIX Fidelity Income ReplPairCorr
  0.78FACPX Fidelity Advisor SumerPairCorr
  0.77FADTX Fidelity Advisor TecPairCorr
  0.77FAEGX Fidelity Advisor EquityPairCorr
  0.7FAFSX Fidelity Advisor FinPairCorr
  0.66FAFDX Fidelity Advisor FinPairCorr
  0.77FAGIX Fidelity Capital IncomePairCorr
  0.91FAGCX Fidelity Advisor GrowthPairCorr
  0.76FAGAX Fidelity Advisor GrowthPairCorr
  0.66FTF Franklin TempletonPairCorr
  0.77FALGX Fidelity Advisor LargePairCorr
  0.78FAMKX Fidelity Advisor EmergingPairCorr
  0.62FSAGX Gold Portfolio GoldPairCorr
  0.78FSAWX Fidelity Sai ConvertiblePairCorr
  0.76FAMRX Fidelity Asset ManagerPairCorr
  0.94FSCDX Fidelity Advisor SmallPairCorr
  0.76FSCPX Consumer DiscretionaryPairCorr
  0.84FSCRX Fidelity Small CapPairCorr
  0.75FSCTX Fidelity Advisor SmallPairCorr
  0.76FSBDX Fidelity Series BluePairCorr
  0.76FAPMX Fidelity Summer StreetPairCorr
  0.73FSEHX Fidelity Short DurationPairCorr
  0.73FSELX Fidelity Select SemiPairCorr
  0.97FARVX Fidelity Income ReplPairCorr
  0.69FSDPX Materials PortfolioPairCorr
  0.8FSEAX Fidelity Emerging AsiaPairCorr

Moving against Fidelity Mutual Fund

  0.66FSHCX Health Care ServicesPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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