Fidelity Blue Correlations

FBCV Etf

USD 32.62 0.10 0.31%

The current 90-days correlation between Fidelity Blue Chip and Fidelity Blue Chip is 0.27 (i.e., Modest diversification). The correlation of Fidelity Blue 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 Blue Correlation With Market

Very poor diversification

The correlation between Fidelity Blue Chip and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Blue Chip 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 Blue Chip. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Fidelity Etf

0.95	VTV	Vanguard Value Index	Pair Corr
0.91	VYM	Vanguard High Dividend	Pair Corr
0.95	IWD	iShares Russell 1000	Pair Corr
0.92	DGRO	iShares Core Dividend	Pair Corr
0.96	IVE	iShares SP 500	Pair Corr
0.94	DVY	iShares Select Dividend	Pair Corr
0.96	SPYV	SPDR Portfolio SP	Pair Corr
0.94	FVD	First Trust Value	Pair Corr
0.96	IUSV	iShares Core SP	Pair Corr
0.75	NOBL	ProShares SP 500	Pair Corr
0.75	SIXD	AIM ETF Products	Pair Corr
0.64	CEFD	ETRACS Monthly Pay	Pair Corr
0.62	TSJA	TSJA	Pair Corr
0.64	DSJA	DSJA	Pair Corr
0.81	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.8	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.61	CAT	Caterpillar Sell-off Trend	Pair Corr
0.75	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.77	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	WMT	Walmart	Pair Corr
0.64	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr

Moving against Fidelity Etf

0.76	ULE	ProShares Ultra Euro	Pair Corr
0.62	VIIX	VIIX	Pair Corr
0.49	YCL	ProShares Ultra Yen	Pair Corr
0.47	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.46	FXY	Invesco CurrencyShares	Pair Corr
0.67	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.59	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.56	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.52	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	FBCG	FMIL	FPRO	FGRO	FSMO
FBCG		0.26	-0.37	0.12	0.82	FBCG
FMIL	0.26		-0.24	0.95	0.34	FMIL
FPRO	-0.37	-0.24		-0.3	-0.25	FPRO
FGRO	0.12	0.95	-0.3		0.13	FGRO
FSMO	0.82	0.34	-0.25	0.13		FSMO
	FBCG	FMIL	FPRO	FGRO	FSMO

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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

FGRO	+ 0.95	FMIL
FSMO	+ 0.82	FBCG
FSMO	+ 0.34	FMIL
FMIL	+ 0.26	FBCG
FSMO	+ 0.13	FGRO
FGRO	+ 0.12	FBCG

High negative correlations

FPRO	- 0.37	FBCG
FGRO	- 0.3	FPRO
FSMO	- 0.25	FPRO
FPRO	- 0.24	FMIL

Fidelity Blue Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Blue ETF 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 Blue'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
FBCG	0.75	0.15	0.12	0.28	0.75	(0.80)	2.09	(1.50)	5.61
FMIL	0.62	0.02	(0.06)	1.43	0.95	(0.60)	1.24	(1.85)	4.17
FPRO	0.70	(0.09)	0.00	(1.73)	0.00	0.00	1.26	(1.43)	3.77
FGRO	0.93	0.01	(0.05)	(1.52)	1.47	(0.92)	1.74	(3.06)	6.25
FSMO	0.87	0.13	0.02	(0.38)	0.84	(1.01)	1.76	(1.39)	4.50

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