Fidelity Covington Trust Etf Market Value
| FENI Etf | 38.05 0.20 0.53% |
| Symbol | Fidelity |
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.
| 10/26/2025 |
| 01/24/2026 |
If you would invest 0.00 in Fidelity Covington on October 26, 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. Fidelity Covington is entity of United States 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 | 0.7147 | |||
| Information Ratio | 0.0636 | |||
| Maximum Drawdown | 2.87 | |||
| Value At Risk | (1.17) | |||
| Potential Upside | 1.21 |
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 | 0.1285 | |||
| Jensen Alpha | 0.1016 | |||
| Total Risk Alpha | 0.0477 | |||
| Sortino Ratio | 0.0619 | |||
| Treynor Ratio | 0.6988 |
Fidelity Covington January 24, 2026 Technical Indicators
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| Risk Adjusted Performance | 0.1285 | |||
| Market Risk Adjusted Performance | 0.7088 | |||
| Mean Deviation | 0.5715 | |||
| Semi Deviation | 0.5756 | |||
| Downside Deviation | 0.7147 | |||
| Coefficient Of Variation | 567.35 | |||
| Standard Deviation | 0.6954 | |||
| Variance | 0.4836 | |||
| Information Ratio | 0.0636 | |||
| Jensen Alpha | 0.1016 | |||
| Total Risk Alpha | 0.0477 | |||
| Sortino Ratio | 0.0619 | |||
| Treynor Ratio | 0.6988 | |||
| Maximum Drawdown | 2.87 | |||
| Value At Risk | (1.17) | |||
| Potential Upside | 1.21 | |||
| Downside Variance | 0.5109 | |||
| Semi Variance | 0.3313 | |||
| Expected Short fall | (0.63) | |||
| Skewness | (0.35) | |||
| Kurtosis | (0.52) |
Fidelity Covington Trust Backtested Returns
Fidelity Covington is very steady at the moment. Fidelity Covington Trust secures Sharpe Ratio (or Efficiency) of 0.16, which denotes the etf had a 0.16 % 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 Coefficient Of Variation of 567.35, downside deviation of 0.7147, and Mean Deviation of 0.5715 to check if the risk estimate we provide is consistent with the expected return of 0.12%. The etf shows a Beta (market volatility) of 0.16, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity Covington's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Covington is expected to be smaller as well.
Auto-correlation | -0.12 |
Insignificant reverse predictability
Fidelity Covington Trust has insignificant reverse predictability. Overlapping area represents the amount of predictability between Fidelity Covington time series from 26th of October 2025 to 10th of December 2025 and 10th of December 2025 to 24th 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 -0.12 indicates that less than 12.0% of current Fidelity Covington price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.53 |
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 Correlation, Fidelity Covington Volatility and Fidelity Covington Alpha and Beta module to complement your research on Fidelity Covington. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Fidelity Covington technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.