Fidelity MSCI Correlations

FCOM Etf

USD 66.55 0.32 0.48%

The current 90-days correlation between Fidelity MSCI Commun and Fidelity MSCI Materials is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity MSCI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity MSCI Communication moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity MSCI Correlation With Market

Poor diversification

The correlation between Fidelity MSCI Communication and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Communication and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fidelity Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity MSCI Communication. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Fidelity Etf

0.98	XLC	Communication Services	Pair Corr
1.0	VOX	Vanguard Communication	Pair Corr
0.95	IYZ	IShares Telecommunicatio	Pair Corr
0.91	ESPO	VanEck Video Gaming	Pair Corr
0.98	IXP	iShares Global Comm	Pair Corr
0.9	HERO	Global X Video	Pair Corr
0.97	SOCL	Global X Social	Pair Corr
0.96	GAMR	Amplify Video Game	Pair Corr
0.83	LENS	Sarmaya Thematic ETF	Pair Corr
0.96	MAPP	Harbor ETF Trust	Pair Corr
0.84	PRME	Prime Medicine, Common	Pair Corr
0.85	JUNE	Junee Limited Ordinary Symbol Change	Pair Corr
0.84	SNPD	DBX ETF Trust	Pair Corr
0.94	EVUS	iShares ESG Aware	Pair Corr
0.86	SILJ	Amplify Junior Silver	Pair Corr
0.97	SSO	ProShares Ultra SP500	Pair Corr
0.98	ITDD	iShares Trust	Pair Corr
0.98	IYW	iShares Technology ETF	Pair Corr
0.89	SPMV	Invesco SP 500	Pair Corr
0.96	ISRCF	iShares V Public	Pair Corr
0.89	FTF	Franklin Templeton	Pair Corr
0.91	VOT	Vanguard Mid Cap	Pair Corr
0.72	DD	Dupont De Nemours	Pair Corr
0.81	BA	Boeing	Pair Corr
0.9	CAT	Caterpillar	Pair Corr
0.79	PFE	Pfizer Inc	Pair Corr
0.77	BAC	Bank of America Aggressive Push	Pair Corr
0.9	JPM	JPMorgan Chase	Pair Corr
0.95	MSFT	Microsoft	Pair Corr
0.86	GE	GE Aerospace	Pair Corr
0.76	MRK	Merck Company Aggressive Push	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr

Moving against Fidelity Etf

0.37	WNTR	Tidal Trust II	Pair Corr
0.8	PG	Procter Gamble	Pair Corr
0.36	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	FMAT	FIDU	FSTA	FDIS	FUTY
FMAT		0.88	0.23	0.89	0.64	FMAT
FIDU	0.88		0.05	0.9	0.83	FIDU
FSTA	0.23	0.05		0.32	0.24	FSTA
FDIS	0.89	0.9	0.32		0.81	FDIS
FUTY	0.64	0.83	0.24	0.81		FUTY
	FMAT	FIDU	FSTA	FDIS	FUTY

Fidelity MSCI Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity MSCI ETF 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 MSCI'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
FMAT	0.77	0.01	0.01	0.09	0.85	(0.82)	1.65	(1.41)	4.15
FIDU	0.58	0.02	0.02	0.09	0.51	(0.71)	1.41	(1.02)	3.51
FSTA	0.52	(0.02)	(0.07)	0.04	0.68	(0.49)	1.07	(1.13)	2.66
FDIS	0.82	(0.02)	(0.01)	0.05	0.99	(0.85)	1.46	(1.79)	5.60
FUTY	0.65	0.04	0.01	0.16	0.86	(0.61)	1.22	(1.42)	2.92

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