Fidelity Greenwood Correlations

FAPSX Fund

9.62 0.02 0.21%

The current 90-days correlation between Fidelity Greenwood Street and Victory High Income is 0.11 (i.e., Average diversification). The correlation of Fidelity Greenwood 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 Greenwood Correlation With Market

Modest diversification

The correlation between Fidelity Greenwood Street and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Greenwood Street 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 Greenwood Street. 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

0.8	FARMX	Strategic Advisers	Pair Corr
0.72	FSEAX	Fidelity Emerging Asia	Pair Corr
0.78	FBIFX	Fidelity Freedom Index	Pair Corr
0.71	FBTIX	Fidelity Advisor Bio	Pair Corr
0.62	FCLCX	Fidelity Advisor Ind	Pair Corr
0.82	FUAMX	Fidelity Intermediate	Pair Corr
0.63	FUENX	Fidelity Flex Municipal	Pair Corr
0.73	FULVX	Fidelity Low Volatility	Pair Corr
0.85	FUMBX	Fidelity Short Term	Pair Corr
0.75	FDEWX	Fidelity Freedom Index	Pair Corr
0.67	FDTIX	Fidelity Advisor Div	Pair Corr
0.76	FDVKX	Fidelity Value Discovery	Pair Corr
0.82	FEIRX	Fidelity Advisor Equity	Pair Corr
0.8	FEQIX	Fidelity Equity Income	Pair Corr
0.83	FFFHX	Fidelity Freedom 2050	Pair Corr
0.84	FFFGX	Fidelity Freedom 2045	Pair Corr
0.75	FFFFX	Fidelity Freedom 2040	Pair Corr
0.95	FFFAX	Fidelity Freedom Income	Pair Corr
0.92	FFTHX	Fidelity Freedom 2035	Pair Corr
0.97	FFVFX	Fidelity Freedom 2015	Pair Corr
0.89	FXIFX	Fidelity Freedom Index	Pair Corr
0.77	FXNAX	Fidelity Bond Index	Pair Corr
0.66	FGDIX	Fidelity Advisor Gold	Pair Corr

Related Correlations Analysis

	RHMYX	LBETX	PHDTX	FLOKX	MAHIX	GFRIX	AGDAX
RHMYX		0.44	0.72	0.64	0.65	0.21	0.59	RHMYX
LBETX	0.44		0.84	0.72	0.86	0.75	0.73	LBETX
PHDTX	0.72	0.84		0.66	0.89	0.68	0.86	PHDTX
FLOKX	0.64	0.72	0.66		0.7	0.22	0.48	FLOKX
MAHIX	0.65	0.86	0.89	0.7		0.72	0.74	MAHIX
GFRIX	0.21	0.75	0.68	0.22	0.72		0.73	GFRIX
AGDAX	0.59	0.73	0.86	0.48	0.74	0.73		AGDAX
	RHMYX	LBETX	PHDTX	FLOKX	MAHIX	GFRIX	AGDAX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RHMYX	0.28	(0.05)	0.00	(0.52)	0.00	0.00	0.53	(0.93)	2.70
LBETX	0.23	0.00	(0.02)	0.06	0.31	(0.25)	0.44	(0.52)	2.01
PHDTX	0.10	(0.01)	(0.10)	(0.84)	0.13	(0.12)	0.11	(0.22)	0.78
FLOKX	0.50	(0.02)	0.00	(0.12)	0.00	0.00	0.94	(1.05)	3.93
MAHIX	0.09	(0.01)	(0.08)	(0.12)	0.14	(0.11)	0.10	(0.20)	0.90
GFRIX	0.04	0.00	(0.10)	0.03	0.00	(0.19)	0.11	(0.11)	0.79
AGDAX	0.09	(0.01)	(0.09)	(0.50)	0.11	(0.24)	0.29	(0.29)	1.14

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Fidelity Greenwood Correlations

Fidelity Greenwood Correlation With Market

Modest diversification

Moving together with Fidelity Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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