Fidelity Strategic Correlations

Mutual Funds . USA . 
Fund . Fidelity Strategic Dividend
FASDX Fund  USD 18.04  0.03  0.17%   
The current 90-days correlation between Fidelity Strategic and Fidelity Advisor Strategic is 0.54 (i.e., Very weak diversification). The correlation of Fidelity Strategic 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 Strategic Correlation With Market

Poor diversification

The correlation between Fidelity Strategic Dividend and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Strategic Dividend 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 Strategic Dividend. 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 unemployment.

Moving together with Fidelity Mutual Fund

  0.9FPURX Fidelity PuritanPairCorr
  0.68FQIFX Fidelity Freedom IndexPairCorr
  0.87FQIPX Fidelity Freedom IndexPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.87FRLPX Fidelity Freedom IndexPairCorr
  0.75FABLX Fidelity Advisor BalancedPairCorr
  0.85FACVX Fidelity ConvertiblePairCorr
  0.84FACPX Fidelity Advisor SumerPairCorr
  0.85FACGX Fidelity Advisor GrowthPairCorr
  0.84FADTX Fidelity Advisor Tec Steady GrowthPairCorr
  0.65FADMX Fidelity Advisor StrPairCorr
  0.88FAEGX Fidelity Advisor EquityPairCorr
  0.79FAFSX Fidelity Advisor FinPairCorr
  0.72FAFEX Fidelity Advisor FreedomPairCorr
  0.72FAGNX Fidelity Advisor EnergyPairCorr
  0.88FAGIX Fidelity Capital IncomePairCorr
  0.85FAGCX Fidelity Advisor GrowthPairCorr
  0.89FAHYX Fidelity Advisor HighPairCorr
  0.75FAIOX Fidelity Advisor BalancedPairCorr
  0.88FALIX Fidelity Advisor LargePairCorr
  0.86FALAX Fidelity Advisor LargePairCorr

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   
FABLX
+ 0.81
FNIAX
FCPAX
+ 0.61
FSTAX
FNIAX
+ 0.41
FSTAX
FEPAX
+ 0.37
FCPAX
FCPAX
+ 0.35
FABLX
FEPAX
+ 0.32
FSTAX
  
High negative correlations   
FEPAX
- 0.66
FNIAX
FEPAX
- 0.57
FABLX

Risk-Adjusted Indicators

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