Fidelity International Mean Deviation
| FDEV Etf | | | USD 34.32 -0.99 -2.80% |
Observed values used in the Mean Deviation indicator for Fidelity International Multifactor are included in this dataset. Data coverage may vary across sources and reporting intervals. Review
Investing Opportunities for context on portfolio diversification. The diversification view provides additional analytical depth. A position in Fidelity International Multifactor appears within the mix. The relative size of each holding follows the allocation framework. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.
Fidelity International Multifactor has current Mean Deviation of 0.6664. The mean deviation of the equity instrument is the first measure of the distances between each value of security historical prices and the mean. It gives us an idea of how spread out from the center the distribution of returns.
Mean Deviation | = | SUM(RET DEV)N |
| = | 0.6664 | |
| SUM | = | Summation notation |
| RET DEV | = | Sum of return deviations of Fidelity International |
| N | = | Number of calculation points for selected time horizon |
Mean Deviation Peers Comparison
Mean Deviation Relative To Other Indicators
Fidelity International Multifactor is rated
below average for mean deviation relative to ETF peers. It is currently under evaluation for maximum drawdown relative to ETF peers reflecting a
6.52 ratio of Maximum Drawdown to Mean Deviation. Fidelity International Multifactor's Maximum Drawdown exceeds Mean Deviation by a factor of
6.52 Mean Deviation is the average of the absolute values of the differences between price distribution numbers and their mean. Mean deviation of equity instrument with a lot of historical data is a biased estimator because the time horizon used in calculation is typically much smaller than the entire price history of the equity. The mean deviation is typically used as a measure of dispersion for small investment horizon, otherwise standard deviation is a better measure of dispersion.
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