Fidelity Large Correlations

Mutual Funds . USA . 
Fund . Fidelity Large Cap
FSPGX Fund  USD 42.70  0.35  0.83%   
The current 90-days correlation between Fidelity Large Cap and Fidelity Large Cap is 0.74 (i.e., Poor diversification). The correlation of Fidelity Large 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 Large Correlation With Market

Very poor diversification

The correlation between Fidelity Large Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Large 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 Large 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 price.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.99FPURX Fidelity PuritanPairCorr
  1.0FPUKX Fidelity PuritanPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.99FRBEX Fidelity Freedom 2070PairCorr
  0.99FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBLX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBYX Fidelity Freedom BlendPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.99FRCPX Fidelity Freedom BlendPairCorr
  0.99FRCRX Fidelity SustainablePairCorr
  0.99FRCWX Fidelity SustainablePairCorr
  0.99FRCYX Fidelity SustainablePairCorr
  0.99FRDDX Fidelity SustainablePairCorr
  0.66FRESX Fidelity Real EstatePairCorr
  0.94FRIFX Fidelity Real EstatePairCorr
  0.85FRIOX Fidelity Real EstatePairCorr
  0.94FRIRX Fidelity Real EstatePairCorr
  0.68FROGX Fidelity Municipal IncomePairCorr
  0.95FRQIX Fidelity Income ReplPairCorr
  0.95FRQAX Fidelity Income ReplPairCorr
  0.99FAASX Fidelity Asset ManagerPairCorr
  0.99FAAIX Fidelity Asset ManagerPairCorr
  0.98FACVX Fidelity ConvertiblePairCorr
  0.95FACPX Fidelity Advisor SumerPairCorr
  0.95FACNX Fidelity CanadaPairCorr
  0.83FACFX Fidelity Advisor FreedomPairCorr
  0.99FADTX Fidelity Advisor TecPairCorr
  0.95FADMX Fidelity Advisor StrPairCorr
  0.95FADIX Fidelity Advisor DivPairCorr
  0.96FADCX Fidelity Advisor DivPairCorr
  0.99FADAX Fidelity Advisor DividendPairCorr
  0.99FAEGX Fidelity Advisor EquityPairCorr
  0.97FAFSX Fidelity Advisor FinPairCorr
  0.82FAFEX Fidelity Advisor FreedomPairCorr

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 Large 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 Large'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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