Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FSSNX Fund  USD 30.02  0.05  0.17%   
The current 90-days correlation between Fidelity Small Cap and Fidelity Mid Cap is 0.92 (i.e., Almost no 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

Very poor diversification

The correlation between Fidelity Small Cap and DJI is 0.86 (i.e., Very poor 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 state.

Moving together with Fidelity Mutual Fund

  0.93FPTKX Fidelity Freedom 2015PairCorr
  0.67FPURX Fidelity PuritanPairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.68FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.69FQLSX Fidelity Flex FreedomPairCorr
  0.7FRBDX Fidelity Freedom 2070PairCorr
  0.91FRBEX Fidelity Freedom 2070PairCorr
  0.7FRBHX Fidelity Freedom 2070PairCorr
  0.7FRBJX Fidelity Advisor FreedomPairCorr
  0.71FRBKX Fidelity Advisor FreedomPairCorr
  0.7FRBLX Fidelity Advisor FreedomPairCorr
  0.71FRBOX Fidelity Advisor FreedomPairCorr
  0.71FRBPX Fidelity Advisor FreedomPairCorr
  0.7FRBQX Fidelity Flex FreedomPairCorr
  0.7FRBUX Fidelity Freedom IndexPairCorr
  0.7FRBVX Fidelity Freedom IndexPairCorr
  0.7FRBWX Fidelity Freedom IndexPairCorr
  0.7FRBYX Fidelity Freedom BlendPairCorr
  0.7FRBZX Fidelity Freedom BlendPairCorr
  0.7FRAGX Aggressive GrowthPairCorr
  0.61FRAMX Fidelity Income ReplPairCorr
  0.91FRASX Fidelity Income ReplPairCorr
  0.7FRCFX Fidelity Freedom BlendPairCorr
  0.71FRCHX Fidelity Freedom BlendPairCorr
  0.7FRCKX Fidelity Freedom BlendPairCorr
  0.7FRCLX Fidelity Freedom BlendPairCorr
  0.7FRCNX Fidelity Freedom BlendPairCorr
  0.7FRCPX Fidelity Freedom BlendPairCorr
  0.91FRCQX Fidelity SustainablePairCorr
  0.7FRCRX Fidelity SustainablePairCorr
  0.7FRCVX Fidelity SustainablePairCorr
  0.7FRCWX Fidelity SustainablePairCorr
  0.65FRCYX Fidelity SustainablePairCorr
  0.7FRDCX Fidelity SustainablePairCorr
  0.91FRDDX Fidelity SustainablePairCorr
  0.91FRDEX Fidelity SustainablePairCorr
  0.69FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


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.

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