Correlation Between Fidelity MSCI and Xtrackers Harvest
Can any of the company-specific risk be diversified away by investing in both Fidelity MSCI and Xtrackers Harvest at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fidelity MSCI and Xtrackers Harvest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelity MSCI Financials and Xtrackers Harvest CSI, you can compare the effects of market volatilities on Fidelity MSCI and Xtrackers Harvest and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fidelity MSCI with a short position of Xtrackers Harvest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity MSCI and Xtrackers Harvest.
Diversification Opportunities for Fidelity MSCI and Xtrackers Harvest
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Fidelity and Xtrackers is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Financials and Xtrackers Harvest CSI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xtrackers Harvest CSI and Fidelity MSCI is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fidelity MSCI Financials are associated (or correlated) with Xtrackers Harvest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xtrackers Harvest CSI has no effect on the direction of Fidelity MSCI i.e., Fidelity MSCI and Xtrackers Harvest go up and down completely randomly.
Pair Corralation between Fidelity MSCI and Xtrackers Harvest
Given the investment horizon of 90 days Fidelity MSCI Financials is expected to under-perform the Xtrackers Harvest. But the etf apears to be less risky and, when comparing its historical volatility, Fidelity MSCI Financials is 1.46 times less risky than Xtrackers Harvest. The etf trades about -0.04 of its potential returns per unit of risk. The Xtrackers Harvest CSI is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 3,026 in Xtrackers Harvest CSI on August 21, 2025 and sell it today you would earn a total of 226.00 from holding Xtrackers Harvest CSI or generate 7.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fidelity MSCI Financials vs. Xtrackers Harvest CSI
Performance |
| Timeline |
| Fidelity MSCI Financials |
| Xtrackers Harvest CSI |
Fidelity MSCI and Xtrackers Harvest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelity MSCI and Xtrackers Harvest
The main advantage of trading using opposite Fidelity MSCI and Xtrackers Harvest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity MSCI position performs unexpectedly, Xtrackers Harvest can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Xtrackers Harvest will offset losses from the drop in Xtrackers Harvest's long position.| Fidelity MSCI vs. Fidelity MSCI Health | Fidelity MSCI vs. Fidelity MSCI Utilities | Fidelity MSCI vs. Fidelity MSCI Consumer | Fidelity MSCI vs. iShares MSCI USA |
| Xtrackers Harvest vs. Franklin FTSE Japan | Xtrackers Harvest vs. SPDR SP 400 | Xtrackers Harvest vs. Fidelity MSCI Financials | Xtrackers Harvest vs. iShares MSCI USA |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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