Fidelity Capital Correlations

Mutual Funds . USA . 
Fund . Fidelity Capital Income
FAGIX Fund  USD 10.10  0.07  0.70%   
The current 90-days correlation between Fidelity Capital Income and Fidelity High Income is 0.18 (i.e., Average diversification). The correlation of Fidelity Capital 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 Capital Correlation With Market

Good diversification

The correlation between Fidelity Capital Income and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Capital Income 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 Capital Income. 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

  0.89FPURX Fidelity PuritanPairCorr
  0.85FPUKX Fidelity PuritanPairCorr
  0.73FQIPX Fidelity Freedom IndexPairCorr
  0.7FQLSX Fidelity Flex FreedomPairCorr
  0.79FRBDX Fidelity Freedom 2070PairCorr
  0.74FRBEX Fidelity Freedom 2070PairCorr
  0.79FRBHX Fidelity Freedom 2070PairCorr
  0.7FRBJX Fidelity Advisor FreedomPairCorr
  0.71FRBKX Fidelity Advisor FreedomPairCorr
  0.78FRBLX Fidelity Advisor FreedomPairCorr
  0.75FRBOX Fidelity Advisor FreedomPairCorr
  0.69FRBPX Fidelity Advisor FreedomPairCorr
  0.7FRBQX Fidelity Flex FreedomPairCorr
  0.78FRBUX Fidelity Freedom IndexPairCorr
  0.73FRBVX Fidelity Freedom IndexPairCorr
  0.7FRBWX Fidelity Freedom IndexPairCorr
  0.79FRBYX Fidelity Freedom BlendPairCorr
  0.71FRBZX Fidelity Freedom BlendPairCorr
  0.84FRAGX Aggressive GrowthPairCorr
  0.74FRCFX Fidelity Freedom BlendPairCorr
  0.74FRCHX Fidelity Freedom BlendPairCorr
  0.73FRCKX Fidelity Freedom BlendPairCorr
  0.79FRCLX Fidelity Freedom BlendPairCorr
  0.71FRCNX Fidelity Freedom BlendPairCorr
  0.68FRCPX Fidelity Freedom BlendPairCorr
  0.77FRCQX Fidelity SustainablePairCorr
  0.77FRCRX Fidelity SustainablePairCorr
  0.74FRCVX Fidelity SustainablePairCorr
  0.79FRCWX Fidelity SustainablePairCorr
  0.72FRCYX Fidelity SustainablePairCorr
  0.85FRDCX Fidelity SustainablePairCorr
  0.77FRDEX Fidelity SustainablePairCorr
  0.79FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FTBFX
+ 0.93
FNMIX
FNMIX
+ 0.87
SPHIX
FRESX
+ 0.81
FNMIX
FRESX
+ 0.77
FTBFX
FTBFX
+ 0.73
SPHIX
FRESX
+ 0.72
SPHIX
  
High negative correlations   
FBALX
- 0.39
FTBFX
FBALX
- 0.12
FNMIX
FRESX
- 0.0
FBALX

Risk-Adjusted Indicators

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