Fidelity Blue Correlations

Mutual Funds . USA . 
Fund . Fidelity Blue Chip
FBGRX Fund  USD 226.16  2.17  0.97%   
The current 90-days correlation between Fidelity Blue Chip and Fidelity Otc Portfolio is 0.99 (i.e., No risk reduction). 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

Poor diversification

The correlation between Fidelity Blue Chip and DJI is 0.61 (i.e., 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 mutual fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Fidelity Mutual Fund

  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.83FQIPX Fidelity Freedom IndexPairCorr
  0.83FQLSX Fidelity Flex FreedomPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.86FRGAX Growth Allocation IndexPairCorr
  0.83FRLPX Fidelity Freedom IndexPairCorr
  0.75FRPCX Fidelity Sai AlternativePairCorr
  0.81FAASX Fidelity Asset ManagerPairCorr
  0.81FAAIX Fidelity Asset ManagerPairCorr
  0.83FABLX Fidelity Advisor BalancedPairCorr
  0.81FABCX Fidelity Advisor BalancedPairCorr
  0.95FACVX Fidelity ConvertiblePairCorr
  0.89FACPX Fidelity Advisor SumerPairCorr
  0.87FACNX Fidelity CanadaPairCorr
  0.99FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.63FQITX Fidelity Salem StreetPairCorr
  0.35FROGX Fidelity Municipal IncomePairCorr
  0.33FRAMX Fidelity Income ReplPairCorr
  0.31FRIMX Fidelity Income ReplPairCorr
  0.31FRQAX Fidelity Income ReplPairCorr
  0.56FAERX Fidelity Advisor OverseasPairCorr
  0.37FADCX Fidelity Advisor DivPairCorr
  0.37FAFAX Fidelity Advisor FreedomPairCorr
  0.35FACTX Fidelity Advisor HealthPairCorr
  0.35FACDX Fidelity Advisor HealthPairCorr
  0.35FADIX Fidelity Advisor DivPairCorr

Related Correlations Analysis

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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.

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