Fidelity Small Correlations

FCVIX Fund

USD 19.93 0.03 0.15%

The current 90-days correlation between Fidelity Small Cap and Fidelity Blue Chip is 0.48 (i.e., Very weak diversification). The correlation of Fidelity Small 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 Small Correlation With Market

Good diversification

The correlation between Fidelity Small Cap and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small 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 Small Cap. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Fidelity Mutual Fund

0.99	VSIIX	Vanguard Small Cap	Pair Corr
0.99	VISVX	Vanguard Small Cap	Pair Corr
0.98	DFSVX	Us Small Cap	Pair Corr
0.99	DFFVX	Us Targeted Value	Pair Corr
0.8	UBVCX	Undiscovered Managers	Pair Corr
0.81	UBVAX	Undiscovered Managers	Pair Corr
0.81	UBVSX	Undiscovered Managers	Pair Corr
0.97	AVFIX	American Beacon Small	Pair Corr
0.63	RYATX	Nasdaq 100 Fund	Pair Corr
0.96	PVFAX	Paradigm Value	Pair Corr
0.66	XOM	Exxon Mobil Corp	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.75	DD	Dupont De Nemours	Pair Corr
0.8	BAC	Bank of America	Pair Corr

Moving against Fidelity Mutual Fund

0.53	KO	Coca Cola Earnings Call This Week	Pair Corr
0.47	MSFT	Microsoft	Pair Corr
0.31	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	FBCG	FELG	PVAL	GSIE	DIHP	BKLC	IVOO	PAAA	JHMM	SCHK
FBCG		0.99	0.88	0.84	0.85	0.98	0.72	0.0	0.81	0.97	FBCG
FELG	0.99		0.9	0.85	0.87	0.99	0.73	0.0	0.82	0.99	FELG
PVAL	0.88	0.9		0.89	0.93	0.94	0.89	0.0	0.94	0.95	PVAL
GSIE	0.84	0.85	0.89		0.96	0.86	0.78	0.0	0.85	0.87	GSIE
DIHP	0.85	0.87	0.93	0.96		0.9	0.78	0.0	0.85	0.91	DIHP
BKLC	0.98	0.99	0.94	0.86	0.9		0.77	0.0	0.86	1.0	BKLC
IVOO	0.72	0.73	0.89	0.78	0.78	0.77		0.0	0.98	0.79	IVOO
PAAA	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	PAAA
JHMM	0.81	0.82	0.94	0.85	0.85	0.86	0.98	0.0		0.87	JHMM
SCHK	0.97	0.99	0.95	0.87	0.91	1.0	0.79	0.0	0.87		SCHK
	FBCG	FELG	PVAL	GSIE	DIHP	BKLC	IVOO	PAAA	JHMM	SCHK

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SCHK	+ 1.0	BKLC
FELG	+ 0.99	FBCG
BKLC	+ 0.99	FELG
SCHK	+ 0.99	FELG
BKLC	+ 0.98	FBCG
JHMM	+ 0.98	IVOO

High negative correlations

SCHK	- 0.0	PAAA
JHMM	- 0.0	PAAA
PAAA	- 0.0	IVOO
PAAA	- 0.0	BKLC
PAAA	- 0.0	DIHP
PAAA	- 0.0	GSIE

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Small 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 Small'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
FBCG	0.73	0.12	0.04	(0.28)	1.01	(0.73)	1.45	(1.70)	6.06
FELG	0.63	0.12	0.06	(0.44)	0.82	(0.66)	1.24	(1.14)	5.12
PVAL	0.46	0.07	0.01	(0.40)	0.54	(0.48)	1.17	(0.87)	3.37
GSIE	0.54	0.07	0.02	(0.34)	0.60	(0.57)	1.20	(1.04)	3.73
DIHP	0.54	0.09	0.05	(0.51)	0.60	(0.55)	1.10	(1.04)	3.78
BKLC	0.48	0.09	0.04	(0.40)	0.59	(0.53)	1.07	(0.64)	4.27
IVOO	0.69	0.05	(0.02)	(0.12)	0.78	(0.85)	1.67	(1.23)	5.61
PAAA	0.02	0.01	(0.91)	(1.52)	0.00	(0.04)	0.06	(0.02)	0.18
JHMM	0.61	0.06	0.00	(0.21)	0.68	(0.70)	1.55	(1.02)	5.07
SCHK	0.48	0.09	0.04	(0.36)	0.58	(0.56)	1.14	(0.72)	4.35

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