Fidelity Climate Correlations
| FCAEX Fund | USD 12.41 0.03 0.24% |
The current 90-days correlation between Fidelity Climate Action and Fidelity Environmental Bond is 0.18 (i.e., Average diversification). The correlation of Fidelity Climate 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 Climate Correlation With Market
Modest diversification
The correlation between Fidelity Climate Action and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Climate Action and DJI in the same portfolio, assuming nothing else is changed.
Fidelity |
Moving together with Fidelity Mutual Fund
| 0.82 | FPURX | Fidelity Puritan | PairCorr |
| 0.93 | FPUKX | Fidelity Puritan | PairCorr |
| 0.76 | FQIPX | Fidelity Freedom Index | PairCorr |
| 0.62 | FQLSX | Fidelity Flex Freedom | PairCorr |
| 0.77 | FRAGX | Aggressive Growth | PairCorr |
| 0.81 | FRGAX | Growth Allocation Index | PairCorr |
| 0.67 | FRLPX | Fidelity Freedom Index | PairCorr |
| 0.76 | FACVX | Fidelity Convertible | PairCorr |
| 0.85 | FACPX | Fidelity Advisor Sumer | PairCorr |
| 0.79 | FACGX | Fidelity Advisor Growth | PairCorr |
Related Correlations Analysis
| 0.72 | 0.18 | 0.51 | 0.05 | FFEBX | ||
| 0.72 | 0.47 | 0.75 | 0.16 | FLOWX | ||
| 0.18 | 0.47 | 0.88 | 0.82 | FSEBX | ||
| 0.51 | 0.75 | 0.88 | 0.65 | FWOMX | ||
| 0.05 | 0.16 | 0.82 | 0.65 | FSLEX | ||
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Risk-Adjusted Indicators
There is a big difference between Fidelity Mutual Fund performing well and Fidelity Climate 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 Climate'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FFEBX | 0.25 | (0.06) | 0.00 | (1.29) | 0.00 | 0.48 | 1.55 | |||
| FLOWX | 0.62 | (0.13) | 0.00 | (0.30) | 0.00 | 1.02 | 6.34 | |||
| FSEBX | 0.55 | 0.01 | (0.01) | 0.05 | 0.76 | 1.05 | 4.65 | |||
| FWOMX | 0.61 | (0.02) | 0.00 | (0.10) | 0.00 | 1.00 | 5.13 | |||
| FSLEX | 0.82 | 0.03 | 0.01 | 0.62 | 1.19 | 1.63 | 6.98 |