Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FCVIX Fund  USD 21.41  0.03  0.14%   
The current 90-days correlation between Fidelity Small Cap and Fidelity Blue Chip is -0.13 (i.e., Good 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 -0.03 (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 signals in gross domestic product.

Moving together with Fidelity Mutual Fund

  0.89FPTKX Fidelity Freedom 2015PairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.88FQIFX Fidelity Freedom IndexPairCorr
  0.89FQIPX Fidelity Freedom IndexPairCorr
  0.87FQITX Fidelity Salem StreetPairCorr
  0.92FQLSX Fidelity Flex FreedomPairCorr
  0.92FRBDX Fidelity Freedom 2070PairCorr
  0.92FRBEX Fidelity Freedom 2070PairCorr
  0.92FRBHX Fidelity Freedom 2070PairCorr
  0.61FRBJX Fidelity Advisor FreedomPairCorr
  0.9FRBKX Fidelity Advisor FreedomPairCorr
  0.61FRBLX Fidelity Advisor FreedomPairCorr
  0.62FRBNX Fidelity Advisor FreedomPairCorr
  0.91FRBOX Fidelity Advisor FreedomPairCorr
  0.91FRBPX Fidelity Advisor FreedomPairCorr
  0.92FRBQX Fidelity Flex FreedomPairCorr
  0.89FRBVX Fidelity Freedom IndexPairCorr
  0.89FRBWX Fidelity Freedom IndexPairCorr
  0.92FRBYX Fidelity Freedom BlendPairCorr
  0.61FRBZX Fidelity Freedom BlendPairCorr
  0.9FRAGX Aggressive GrowthPairCorr
  0.89FRAMX Fidelity Income ReplPairCorr
  0.63FRASX Fidelity Income ReplPairCorr
  0.92FRCFX Fidelity Freedom BlendPairCorr
  0.92FRCHX Fidelity Freedom BlendPairCorr
  0.91FRCLX Fidelity Freedom BlendPairCorr
  0.92FRCNX Fidelity Freedom BlendPairCorr
  0.92FRCPX Fidelity Freedom BlendPairCorr
  0.89FRCQX Fidelity SustainablePairCorr
  0.89FRCRX Fidelity SustainablePairCorr
  0.89FRCVX Fidelity SustainablePairCorr
  0.89FRCWX Fidelity SustainablePairCorr
  0.89FRDCX Fidelity SustainablePairCorr
  0.9FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


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

GSIE
+ 0.97
PVAL
PAAA
+ 0.95
PVAL
IVOO
+ 0.95
GSIE
IVOO
+ 0.93
PVAL
JHMM
+ 0.9
IVOO
PAAA
+ 0.89
GSIE
  

High negative correlations

PAAA
- 0.14
FELG

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FBCG  0.82 (0.02)(0.02) 0.07  1.22 
(0.75)
 1.72 
(2.22)
 5.41 
FELG  0.68  0.00  0.00  0.11  0.00 
 0.00 
 1.46 
(1.67)
 4.31 
PVAL  0.49  0.15  0.09 (1.51) 0.25 
(0.59)
 1.33 
(0.78)
 2.77 
GSIE  0.50  0.11  0.03  1.78  0.49 
(0.52)
 1.03 
(1.19)
 2.38 
DIHP  0.53  0.05  0.03  0.16  0.45 
(0.58)
 1.02 
(0.99)
 2.47 
BKLC  0.53  0.05 (0.06)(0.38) 0.73 
(0.51)
 0.97 
(1.20)
 3.35 
IVOO  0.70  0.12  0.02 (0.78) 0.72 
(0.74)
 1.45 
(1.33)
 3.73 
PAAA  0.03  0.00  0.00  0.00  0.00 
 0.00 
 0.06 
(0.02)
 0.84 
JHMM  0.67  0.10  0.01 (2.00) 0.71 
(0.72)
 1.42 
(1.24)
 3.33 
SCHK  0.54  0.03 (0.05) 0.33  0.73 
(0.55)
 1.02 
(1.15)
 3.35 

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