Fidelity Strategic Correlations

Mutual Funds . USA . 
Fund . Fidelity Strategic Dividend
FSDIX Fund  USD 18.47  0.08  0.44%   
The current 90-days correlation between Fidelity Strategic and Nuveen Preferred Securities is -0.14 (i.e., Good diversification). The correlation of Fidelity Strategic 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 Strategic Correlation With Market

Very poor diversification

The correlation between Fidelity Strategic Dividend and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Strategic Dividend 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 Strategic Dividend. 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

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.84FPURX Fidelity PuritanPairCorr
  0.84FPUKX Fidelity PuritanPairCorr
  0.93FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.92FQIPX Fidelity Freedom IndexPairCorr
  0.79FQITX Fidelity Salem StreetPairCorr
  0.96FQLSX Fidelity Flex FreedomPairCorr
  0.91FRBDX Fidelity Freedom 2070PairCorr
  0.9FRBEX Fidelity Freedom 2070PairCorr
  0.9FRBHX Fidelity Freedom 2070PairCorr
  0.9FRBJX Fidelity Advisor FreedomPairCorr
  0.9FRBKX Fidelity Advisor FreedomPairCorr
  0.9FRBLX Fidelity Advisor FreedomPairCorr
  0.9FRBOX Fidelity Advisor FreedomPairCorr
  0.9FRBPX Fidelity Advisor FreedomPairCorr
  0.91FRBQX Fidelity Flex FreedomPairCorr
  0.92FRBUX Fidelity Freedom IndexPairCorr
  0.92FRBVX Fidelity Freedom IndexPairCorr
  0.92FRBWX Fidelity Freedom IndexPairCorr
  0.91FRBYX Fidelity Freedom BlendPairCorr
  0.91FRBZX Fidelity Freedom BlendPairCorr
  0.97FRAGX Aggressive GrowthPairCorr
  0.94FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.91FRCFX Fidelity Freedom BlendPairCorr
  0.91FRCHX Fidelity Freedom BlendPairCorr
  0.91FRCKX Fidelity Freedom BlendPairCorr
  0.89FRCLX Fidelity Freedom BlendPairCorr
  0.9FRCNX Fidelity Freedom BlendPairCorr
  0.91FRCPX Fidelity Freedom BlendPairCorr
  0.9FRCQX Fidelity SustainablePairCorr
  0.91FRCRX Fidelity SustainablePairCorr
  0.9FRCVX Fidelity SustainablePairCorr
  0.9FRCWX Fidelity SustainablePairCorr
  0.9FRCYX Fidelity SustainablePairCorr
  0.9FRDCX Fidelity SustainablePairCorr
  0.91FRDDX Fidelity SustainablePairCorr
  0.9FRDEX Fidelity SustainablePairCorr
  0.97FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Strategic 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 Strategic'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.

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