Fidelity Equity Correlations

FEQIX Fund

USD 85.42 0.48 0.57%

The current 90-days correlation between Fidelity Equity Income and T Rowe Price is 0.68 (i.e., Poor diversification). The correlation of Fidelity Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Fidelity Equity Income Fund and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Equity Income Fund 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 Equity Income Fund. 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

0.78	FPURX	Fidelity Puritan	Pair Corr
0.75	FPUKX	Fidelity Puritan	Pair Corr
0.65	FQLSX	Fidelity Flex Freedom	Pair Corr
0.71	FRBDX	Fidelity Freedom 2070	Pair Corr
0.71	FRBEX	Fidelity Freedom 2070	Pair Corr
0.71	FRBHX	Fidelity Freedom 2070	Pair Corr
0.67	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.67	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.67	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.76	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.66	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.67	FRBQX	Fidelity Flex Freedom	Pair Corr
0.62	FRBUX	Fidelity Freedom Index	Pair Corr
0.62	FRBVX	Fidelity Freedom Index	Pair Corr
0.63	FRBWX	Fidelity Freedom Index	Pair Corr
0.68	FRBYX	Fidelity Freedom Blend	Pair Corr
0.68	FRBZX	Fidelity Freedom Blend	Pair Corr
0.68	FRCHX	Fidelity Freedom Blend	Pair Corr
0.68	FRCKX	Fidelity Freedom Blend	Pair Corr
0.7	FRCLX	Fidelity Freedom Blend	Pair Corr
0.69	FRCNX	Fidelity Freedom Blend	Pair Corr
0.68	FRCPX	Fidelity Freedom Blend	Pair Corr
0.67	FRCQX	Fidelity Sustainable	Pair Corr
0.68	FRCRX	Fidelity Sustainable	Pair Corr
0.68	FRCWX	Fidelity Sustainable	Pair Corr
0.69	FRCYX	Fidelity Sustainable	Pair Corr
0.76	FRDDX	Fidelity Sustainable	Pair Corr
0.66	FRIFX	Fidelity Real Estate	Pair Corr
0.63	FRINX	Fidelity Real Estate	Pair Corr

Moving against Fidelity Mutual Fund

0.52	FRPCX	Fidelity Sai Alternative	Pair Corr
0.32	FRPDX	Fidelity Sai Alternative	Pair Corr

Related Correlations Analysis

	PRDSX	SOPAX	VTMSX	TRLCX	VSEQX	TTMIX	BIMBX	BAMBX	MCVIX
PRDSX		0.78	0.82	0.92	0.92	0.84	0.73	0.41	0.91	PRDSX
SOPAX	0.78		0.6	0.82	0.86	0.83	0.71	0.21	0.72	SOPAX
VTMSX	0.82	0.6		0.76	0.71	0.58	0.54	0.35	0.82	VTMSX
TRLCX	0.92	0.82	0.76		0.93	0.89	0.85	0.47	0.89	TRLCX
VSEQX	0.92	0.86	0.71	0.93		0.91	0.82	0.43	0.88	VSEQX
TTMIX	0.84	0.83	0.58	0.89	0.91		0.75	0.35	0.75	TTMIX
BIMBX	0.73	0.71	0.54	0.85	0.82	0.75		0.63	0.72	BIMBX
BAMBX	0.41	0.21	0.35	0.47	0.43	0.35	0.63		0.39	BAMBX
MCVIX	0.91	0.72	0.82	0.89	0.88	0.75	0.72	0.39		MCVIX
	PRDSX	SOPAX	VTMSX	TRLCX	VSEQX	TTMIX	BIMBX	BAMBX	MCVIX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Equity 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 Equity'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
PRDSX	1.02	0.06	0.07	0.12	1.05	(1.15)	2.03	(1.71)	7.25
SOPAX	0.66	0.16	0.19	0.55	0.23	(0.85)	1.08	(0.84)	12.10
VTMSX	0.86	0.01	(0.03)	0.12	1.05	(0.96)	1.97	(1.72)	4.35
TRLCX	0.64	0.17	0.16	1.39	0.43	(0.83)	1.37	(1.19)	7.96
VSEQX	0.92	0.16	0.13	0.24	0.87	(1.02)	1.76	(1.59)	11.32
TTMIX	1.22	0.43	0.31	(0.66)	0.49	(1.49)	1.37	(1.83)	33.55
BIMBX	0.15	0.02	(0.24)	0.65	0.00	(0.20)	0.30	(0.29)	0.98
BAMBX	0.18	(0.02)	0.00	(0.32)	0.00	0.00	0.29	(0.29)	2.66
MCVIX	0.73	0.09	0.08	0.18	0.66	(0.85)	1.59	(1.25)	7.89

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