Fidelity Convertible Correlations

FCCVX Fund

USD 33.65 0.03 0.09%

The current 90-days correlation between Fidelity Convertible and Franklin Emerging Market is -0.02 (i.e., Good diversification). The correlation of Fidelity Convertible 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 Convertible Correlation With Market

Very weak diversification

The correlation between Fidelity Vertible Securities and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Vertible Securities 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 Vertible Securities. 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

0.85	FPURX	Fidelity Puritan	Pair Corr
0.9	FPUKX	Fidelity Puritan	Pair Corr
0.63	FRAGX	Aggressive Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.32	FQITX	Fidelity Salem Street	Pair Corr
0.37	FRAMX	Fidelity Income Repl	Pair Corr
0.58	FRIFX	Fidelity Real Estate	Pair Corr
0.56	FRIQX	Fidelity Real Estate	Pair Corr
0.56	FRIRX	Fidelity Real Estate	Pair Corr
0.55	FRINX	Fidelity Real Estate	Pair Corr
0.54	FRIOX	Fidelity Real Estate	Pair Corr
0.42	FRHMX	Fidelity Managed Ret	Pair Corr

Related Correlations Analysis

	FEMDX	ANGCX	DBELX	SEDIX	VIESX	TEOJX	SAEMX
FEMDX		0.81	0.85	0.96	0.79	0.81	0.71	FEMDX
ANGCX	0.81		0.88	0.91	0.71	0.81	0.75	ANGCX
DBELX	0.85	0.88		0.91	0.88	0.94	0.91	DBELX
SEDIX	0.96	0.91	0.91		0.81	0.86	0.79	SEDIX
VIESX	0.79	0.71	0.88	0.81		0.92	0.94	VIESX
TEOJX	0.81	0.81	0.94	0.86	0.92		0.95	TEOJX
SAEMX	0.71	0.75	0.91	0.79	0.94	0.95		SAEMX
	FEMDX	ANGCX	DBELX	SEDIX	VIESX	TEOJX	SAEMX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Convertible 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 Convertible'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
FEMDX	0.15	0.02	0.08	5.39	0.00	(0.20)	0.42	(0.26)	1.11
ANGCX	0.13	0.02	0.06	1.98	0.00	(0.22)	0.36	(0.24)	0.83
DBELX	0.33	0.03	0.06	(9.02)	0.28	(0.44)	0.71	(0.58)	1.78
SEDIX	0.09	0.01	0.03	(0.28)	0.00	(0.16)	0.21	(0.21)	0.53
VIESX	0.54	0.03	0.03	0.09	0.69	(0.59)	1.31	(1.56)	3.67
TEOJX	0.78	0.09	0.08	5.99	0.93	(0.83)	1.54	(1.53)	5.83
SAEMX	0.58	0.04	0.04	0.31	0.77	(0.61)	1.17	(1.44)	3.59

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