Fidelity MSCI Correlations

FDIS Etf

USD 100.13 1.09 1.08%

The current 90-days correlation between Fidelity MSCI Consumer and Fidelity MSCI Consumer is 0.38 (i.e., Weak diversification). The correlation of Fidelity MSCI 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 MSCI Correlation With Market

Poor diversification

The correlation between Fidelity MSCI Consumer and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Consumer 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 Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Fidelity Etf

1.0	XLY	Consumer Discretionary	Pair Corr
1.0	VCR	Vanguard Consumer	Pair Corr
0.93	ITB	iShares Home Construction	Pair Corr
0.95	XHB	SPDR SP Homebuilders	Pair Corr
0.98	IYC	iShares Consumer Dis	Pair Corr
0.89	PEJ	Invesco Dynamic Leisure	Pair Corr
0.97	FXD	First Trust Consumer	Pair Corr
0.89	RCD	Ready Capital	Pair Corr
0.96	XRT	SPDR SP Retail	Pair Corr
0.91	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.79	AMPD	Tidal ETF Services	Pair Corr
0.8	PMBS	PIMCO Mortgage Backed	Pair Corr
0.86	ITWO	Proshares Russell 2000	Pair Corr
0.94	IJT	iShares SP Small	Pair Corr
0.95	SPYV	SPDR Portfolio SP	Pair Corr
0.9	FALN	iShares Fallen Angels	Pair Corr
0.96	RXI	iShares Global Consumer	Pair Corr
0.78	GSJY	Goldman Sachs ActiveBeta	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.84	CVX	Chevron Corp	Pair Corr
0.74	PFE	Pfizer Inc	Pair Corr
0.77	GE	GE Aerospace	Pair Corr
0.77	MMM	3M Company	Pair Corr
0.87	JNJ	Johnson Johnson	Pair Corr
0.85	BA	Boeing	Pair Corr
0.68	MSFT	Microsoft	Pair Corr
0.86	DD	Dupont De Nemours	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.61	VZ	Verizon Communications	Pair Corr

Moving against Fidelity Etf

0.58	IBM	International Business	Pair Corr
0.42	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	FSTA	FIDU	FNCL	FCOM	FHLC
FSTA		0.06	0.12	0.08	0.06	FSTA
FIDU	0.06		0.93	0.91	0.4	FIDU
FNCL	0.12	0.93		0.88	0.57	FNCL
FCOM	0.08	0.91	0.88		0.47	FCOM
FHLC	0.06	0.4	0.57	0.47		FHLC
	FSTA	FIDU	FNCL	FCOM	FHLC

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
FSTA	0.53	(0.07)	0.00	(0.03)	0.00	0.00	0.95	(1.16)	3.18
FIDU	0.58	0.01	0.00	0.12	0.42	(0.71)	1.41	(1.01)	3.39
FNCL	0.62	(0.01)	0.01	0.11	0.67	(0.62)	1.38	(1.08)	3.50
FCOM	0.69	0.09	0.09	0.22	0.44	(0.82)	1.86	(0.96)	4.01
FHLC	0.69	(0.01)	(0.03)	0.10	0.81	(0.68)	1.56	(1.47)	4.46

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