Fidelity Pennsylvania Correlations
FPXTX Fund | USD 10.45 0.02 0.19% |
The current 90-days correlation between Fidelity Pennsylvania and Fidelity Ohio Municipal is 0.97 (i.e., Almost no diversification). The correlation of Fidelity Pennsylvania 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 Pennsylvania Correlation With Market
Average diversification
The correlation between Fidelity Pennsylvania Municipa and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Pennsylvania Municipa and DJI in the same portfolio, assuming nothing else is changed.
Fidelity |
Moving together with Fidelity Mutual Fund
0.73 | FPTKX | Fidelity Freedom 2015 | PairCorr |
0.77 | FQIFX | Fidelity Freedom Index | PairCorr |
0.68 | FRAMX | Fidelity Income Repl | PairCorr |
0.74 | FRASX | Fidelity Income Repl | PairCorr |
0.69 | FRIMX | Fidelity Income Repl | PairCorr |
0.7 | FRHMX | Fidelity Managed Ret | PairCorr |
0.69 | FRKMX | Fidelity Managed Ret | PairCorr |
0.97 | FROGX | Fidelity Municipal Income | PairCorr |
0.7 | FRQHX | Fidelity Managed Ret | PairCorr |
0.69 | FRQIX | Fidelity Income Repl | PairCorr |
0.7 | FRQKX | Fidelity Managed Ret | PairCorr |
0.68 | FRQAX | Fidelity Income Repl | PairCorr |
0.63 | FAASX | Fidelity Asset Manager | PairCorr |
0.64 | FAAIX | Fidelity Asset Manager | PairCorr |
0.69 | FACFX | Fidelity Advisor Freedom | PairCorr |
Moving against Fidelity Mutual Fund
Related Correlations Analysis
0.99 | 0.98 | 0.98 | 0.99 | FOHFX | ||
0.99 | 0.99 | 0.99 | 0.99 | FSAZX | ||
0.98 | 0.99 | 0.99 | 0.99 | FICNX | ||
0.98 | 0.99 | 0.99 | 0.99 | SMDMX | ||
0.99 | 0.99 | 0.99 | 0.99 | FNJHX | ||
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Risk-Adjusted Indicators
There is a big difference between Fidelity Mutual Fund performing well and Fidelity Pennsylvania 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 Pennsylvania'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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
FOHFX | 0.16 | (0.03) | 0.00 | (0.67) | 0.00 | 0.26 | 1.50 | |||
FSAZX | 0.17 | (0.03) | 0.00 | (0.63) | 0.00 | 0.34 | 1.48 | |||
FICNX | 0.18 | (0.04) | 0.00 | (0.65) | 0.00 | 0.28 | 1.65 | |||
SMDMX | 0.19 | (0.03) | 0.00 | (0.61) | 0.00 | 0.37 | 1.59 | |||
FNJHX | 0.18 | (0.03) | 0.00 | (0.67) | 0.00 | 0.26 | 1.56 |