Fidelity Covington Total Risk Alpha
| FDRV Etf | | | USD 16.72 0.06 0.36% |
Reference data associated with the Total Risk Alpha technical indicator for Fidelity Covington Trust. Technical inputs may vary across markets and data providers.
Fidelity Covington Trust has current Total Risk Alpha of 0.0675. The total risk alpha measures the performance of an asset by comparing its returns with those of a selected benchmark portfolio.
Total Risk Alpha | = | RFR + (ER[b] - ER[a]) | x | STD[a] / STD[b] |
| = | 0.0675 | |
| ER[a] | = | Expected return on investing in Fidelity Covington |
| ER[b] | = | Expected return on market index or selected benchmark |
| STD[a] | = | Standard Deviation of returns on Fidelity Covington |
| STD[b] | = | Standard Deviation of selected market or benchmark |
| RFR | = | Risk Free Rate of return. Typically T-Bill Rate |
Total Risk Alpha Peers Comparison
Total Risk Alpha Relative To Other Indicators
Fidelity Covington Trust is rated
below average for total risk alpha relative to ETF peers. It is currently under evaluation for maximum drawdown relative to ETF peers reflecting a
141.37 ratio of Maximum Drawdown to Total Risk Alpha. Fidelity Covington Trust's Maximum Drawdown exceeds Total Risk Alpha by a factor of
141.37 The benchmark portfolio represents the market risk matched to the total risk of the stock ETF or fund.
Compare Fidelity Covington to Peers
Other Technical Indicators