Fidelity Blue Correlations

FBCVX Fund

USD 23.97 0.12 0.50%

The current 90-days correlation between Fidelity Blue Chip and Fidelity Stock Selector is 0.82 (i.e., Very poor 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

Significant diversification

The correlation between Fidelity Blue Chip and DJI is 0.02 (i.e., Significant 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 mutual fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Fidelity Mutual Fund

0.75	BAC	Bank of America	Pair Corr
0.68	CAT	Caterpillar	Pair Corr

Moving against Fidelity Mutual Fund

0.79	UIPIX	Ultrashort Mid Cap	Pair Corr
0.67	USPSX	Profunds Ultrashort	Pair Corr
0.67	USPIX	Profunds Ultrashort	Pair Corr
0.34	PDI	Pimco Dynamic Income	Pair Corr
0.31	FTCAX	Templeton Strained Bond	Pair Corr
0.46	MCD	McDonalds	Pair Corr
0.45	PG	Procter Gamble	Pair Corr
0.43	KO	Coca Cola	Pair Corr
0.42	JNJ	Johnson Johnson	Pair Corr
0.38	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	FSLVX	FVDFX	FSMVX	FSLSX	FGRTX
FSLVX		0.83	0.84	0.62	0.95	FSLVX
FVDFX	0.83		0.5	0.33	0.72	FVDFX
FSMVX	0.84	0.5		0.88	0.89	FSMVX
FSLSX	0.62	0.33	0.88		0.73	FSLSX
FGRTX	0.95	0.72	0.89	0.73		FGRTX
	FSLVX	FVDFX	FSMVX	FSLSX	FGRTX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Blue 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 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
FSLVX	0.62	(0.02)	0.00	(0.25)	0.00	0.00	1.31	(1.39)	3.63
FVDFX	0.57	0.01	0.11	0.24	0.67	(0.64)	1.24	(1.14)	3.06
FSMVX	0.85	(0.14)	0.00	(3.01)	0.00	0.00	1.38	(2.29)	4.72
FSLSX	0.96	(0.27)	0.00	15.08	0.00	0.00	1.36	(2.28)	9.13
FGRTX	0.79	(0.03)	0.00	0.51	0.00	0.00	1.43	(1.89)	4.84

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