Fidelity Covington Trust Etf Fundamentals
| FENI Etf | 39.16 0.71 1.85% |
As of the 28th of January, Fidelity Covington shows the Coefficient Of Variation of 449.05, mean deviation of 0.598, and Downside Deviation of 0.7281. Fidelity Covington Trust technical analysis allows you to utilize historical prices and volume patterns in order to determine a pattern that computes the direction of the entity's future prices.
Fidelity Covington's financial statements offer valuable quarterly and annual insights to potential investors, highlighting the company's current and historical financial position, overall management performance, and changes in financial standing over time. Key fundamentals influencing Fidelity Covington's valuation are provided below:Fidelity Covington Trust does not presently have any fundamental signals for analysis. This module does not cover all equities due to inconsistencies in global equity categorizations. Continue to Equity Screeners to view more equity screening tools. Fidelity | Build AI portfolio with Fidelity Etf |
The market value of Fidelity Covington Trust is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Covington's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Covington's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Fidelity Covington's market value can be influenced by many factors that don't directly affect Fidelity Covington's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Fidelity Covington's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Covington is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Covington's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Fidelity Covington 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Fidelity Covington's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Fidelity Covington.
| 10/30/2025 |
| 01/28/2026 |
If you would invest 0.00 in Fidelity Covington on October 30, 2025 and sell it all today you would earn a total of 0.00 from holding Fidelity Covington Trust or generate 0.0% return on investment in Fidelity Covington over 90 days. Fidelity Covington is related to or competes with Fidelity Covington, Dimensional International, Goldman Sachs, IShares MSCI, John Hancock, IShares MSCI, and Capital Group. More
Fidelity Covington Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Fidelity Covington's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Fidelity Covington Trust upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7281 | |||
| Information Ratio | 0.118 | |||
| Maximum Drawdown | 2.87 | |||
| Value At Risk | (1.17) | |||
| Potential Upside | 1.26 |
Fidelity Covington Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Covington's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Covington's standard deviation. In reality, there are many statistical measures that can use Fidelity Covington historical prices to predict the future Fidelity Covington's volatility.| Risk Adjusted Performance | 0.1641 | |||
| Jensen Alpha | 0.096 | |||
| Total Risk Alpha | 0.0873 | |||
| Sortino Ratio | 0.1225 | |||
| Treynor Ratio | 0.1756 |
Fidelity Covington January 28, 2026 Technical Indicators
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| Price Transform | ||
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| Volume Indicators |
| Risk Adjusted Performance | 0.1641 | |||
| Market Risk Adjusted Performance | 0.1856 | |||
| Mean Deviation | 0.598 | |||
| Semi Deviation | 0.5117 | |||
| Downside Deviation | 0.7281 | |||
| Coefficient Of Variation | 449.05 | |||
| Standard Deviation | 0.7564 | |||
| Variance | 0.5721 | |||
| Information Ratio | 0.118 | |||
| Jensen Alpha | 0.096 | |||
| Total Risk Alpha | 0.0873 | |||
| Sortino Ratio | 0.1225 | |||
| Treynor Ratio | 0.1756 | |||
| Maximum Drawdown | 2.87 | |||
| Value At Risk | (1.17) | |||
| Potential Upside | 1.26 | |||
| Downside Variance | 0.5302 | |||
| Semi Variance | 0.2618 | |||
| Expected Short fall | (0.70) | |||
| Skewness | 0.0489 | |||
| Kurtosis | 0.4459 |
Fidelity Covington Trust Backtested Returns
Fidelity Covington is very steady at the moment. Fidelity Covington Trust secures Sharpe Ratio (or Efficiency) of 0.24, which denotes the etf had a 0.24 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Fidelity Covington Trust, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Covington's Mean Deviation of 0.598, coefficient of variation of 449.05, and Downside Deviation of 0.7281 to check if the risk estimate we provide is consistent with the expected return of 0.18%. The etf shows a Beta (market volatility) of 0.9, which means possible diversification benefits within a given portfolio. Fidelity Covington returns are very sensitive to returns on the market. As the market goes up or down, Fidelity Covington is expected to follow.
Auto-correlation | 0.18 |
Very weak predictability
Fidelity Covington Trust has very weak predictability. Overlapping area represents the amount of predictability between Fidelity Covington time series from 30th of October 2025 to 14th of December 2025 and 14th of December 2025 to 28th of January 2026. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Fidelity Covington Trust price movement. The serial correlation of 0.18 indicates that over 18.0% of current Fidelity Covington price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.18 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 0.63 |
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Fidelity Covington Trust has a Beta of 0.99. This is much higher than that of the family and significantly higher than that of the Foreign Large Blend category. The beta for all United States etfs is notably lower than that of the firm.
Fidelity Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Fidelity Covington's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Fidelity Covington could also be used in its relative valuation, which is a method of valuing Fidelity Covington by comparing valuation metrics of similar companies.Fidelity Covington is currently under evaluation in beta as compared to similar ETFs.
Fidelity Financial Ratios Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Fidelity Covington's current stock value. Our valuation model uses many indicators to compare Fidelity Covington value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Fidelity Covington competition to find correlations between indicators driving Fidelity Covington's intrinsic value. More Info.Fidelity Covington Trust is one of the top ETFs in beta as compared to similar ETFs. It also is one of the top ETFs in one year return as compared to similar ETFs reporting about 38.08 of One Year Return per Beta. The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Fidelity Covington's earnings, one of the primary drivers of an investment's value.Fidelity Covington returns are very sensitive to returns on the market. As the market goes up or down, Fidelity Covington is expected to follow.
Fidelity Fundamentals
| Beta | 0.99 | |||
| One Year Return | 37.70 % | |||
| Three Year Return | 19.20 % | |||
| Five Year Return | 11.00 % | |||
| Ten Year Return | 10.20 % |
About Fidelity Covington Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Fidelity Covington Trust's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Fidelity Covington using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Fidelity Covington Trust based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Currently Active Assets on Macroaxis
When determining whether Fidelity Covington Trust is a strong investment it is important to analyze Fidelity Covington's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Fidelity Covington's future performance. For an informed investment choice regarding Fidelity Etf, refer to the following important reports:Check out Fidelity Covington Piotroski F Score and Fidelity Covington Altman Z Score analysis. You can also try the AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.
The market value of Fidelity Covington Trust is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Covington's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Covington's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Fidelity Covington's market value can be influenced by many factors that don't directly affect Fidelity Covington's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Fidelity Covington's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Covington is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Covington's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.