Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex 500
FDFIX Fund  USD 27.16  0.03  0.11%   
The current 90-days correlation between Fidelity Flex 500 and Fidelity Flex International is 0.53 (i.e., Very weak 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

Very poor diversification

The correlation between Fidelity Flex 500 and DJI is 0.86 (i.e., Very poor 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.87FCLCX Fidelity Advisor IndPairCorr
  0.87FCLAX Fidelity Advisor IndPairCorr
  0.65FCLKX Fidelity Large CapPairCorr
  0.89FCVSX Fidelity VertiblePairCorr
  0.74FGWMX Fidelity New MarketsPairCorr
  0.74FGVMX Fidelity New MarketsPairCorr
  0.62FHKFX Fidelity Series EmergingPairCorr
  0.96FIAFX Fidelity Advisor FreedomPairCorr
  0.62FIFGX Fidelity Sai InflatiPairCorr
  0.65FIKHX Fidelity Advisor TecPairCorr
  0.9FLEOX Fidelity Advisor LevPairCorr
  0.9FLENX Fidelity Advisor LevPairCorr
  0.9FLEMX Fidelity Advisor LevPairCorr
  0.64VTSAX Vanguard Total StockPairCorr
  0.64VFIAX Vanguard 500 IndexPairCorr
  0.64VTSMX Vanguard Total StockPairCorr
  0.65VITSX Vanguard Total StockPairCorr
  0.64VSMPX Vanguard Total StockPairCorr
  0.64VSTSX Vanguard Total StockPairCorr
  0.65VFINX Vanguard 500 IndexPairCorr
  0.64VFFSX Vanguard 500 IndexPairCorr
  0.65VINIX Vanguard InstitutionalPairCorr
  0.65VIIIX Vanguard InstitutionalPairCorr
  0.88FTCAX Templeton Strained BondPairCorr
  0.88PCCFX Prudential Income BuilderPairCorr
  0.88CFJAX Calvert Large Cap Potential GrowthPairCorr
  0.89VWILX Vanguard InternationalPairCorr
  0.9BABDX Blackrock Gbl DividendPairCorr
  0.67RLBCX American BalancedPairCorr
  0.77TIKPX Tiaa Cref InflationPairCorr

Moving against Fidelity Mutual Fund

  0.89USPSX Profunds UltrashortPairCorr
  0.89USPIX Profunds UltrashortPairCorr
  0.87UIPIX Ultrashort Mid CapPairCorr
  0.58TCSUX Cleartrack 2020 ClassPairCorr
  0.56TCTGX Transamerica CleartrackPairCorr
  0.56TCTJX Transamerica CleartrackPairCorr
  0.55TDKTX Cleartrack 2015 ClassPairCorr

Related Correlations Analysis

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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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