Fidelity Series Correlations

FCFMX Fund

USD 19.36 0.21 1.10%

The current 90-days correlation between Fidelity Series Total and Fidelity Advisor Large is 0.96 (i.e., Almost no diversification). The correlation of Fidelity Series 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 Series Correlation With Market

Very poor diversification

The correlation between Fidelity Series Total and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Total 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 Series Total. 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 population.

Moving together with Fidelity Mutual Fund

0.98	FPURX	Fidelity Puritan	Pair Corr
0.98	FPUKX	Fidelity Puritan	Pair Corr
0.74	FQIPX	Fidelity Freedom Index	Pair Corr
0.7	FQLSX	Fidelity Flex Freedom	Pair Corr
0.9	FRAGX	Aggressive Growth	Pair Corr
0.83	FRGAX	Growth Allocation Index	Pair Corr
0.74	FRLPX	Fidelity Freedom Index	Pair Corr
0.78	FRPCX	Fidelity Sai Alternative	Pair Corr
0.74	FAASX	Fidelity Asset Manager	Pair Corr
0.75	FAAIX	Fidelity Asset Manager Potential Growth	Pair Corr
0.97	FACVX	Fidelity Vertible	Pair Corr
0.91	FACPX	Fidelity Advisor Sumer	Pair Corr
0.96	FACGX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.62	FQITX	Fidelity Salem Street	Pair Corr
0.35	FRPDX	Fidelity Sai Alternative	Pair Corr
0.55	FAERX	Fidelity Advisor Overseas	Pair Corr
0.47	FADCX	Fidelity Advisor Div	Pair Corr
0.46	FADIX	Fidelity Advisor Div	Pair Corr

Related Correlations Analysis

	FLCCX	FALAX	CLXRX	FALIX	SDLAX
FLCCX		1.0	0.72	1.0	0.53	FLCCX
FALAX	1.0		0.71	1.0	0.52	FALAX
CLXRX	0.72	0.71		0.71	0.7	CLXRX
FALIX	1.0	1.0	0.71		0.52	FALIX
SDLAX	0.53	0.52	0.7	0.52		SDLAX
	FLCCX	FALAX	CLXRX	FALIX	SDLAX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Series 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 Series' 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
FLCCX	0.48	0.03	0.03	0.06	0.64	(0.48)	1.17	(0.92)	5.48
FALAX	0.48	0.03	0.04	0.06	0.64	(0.49)	1.18	(0.92)	5.50
CLXRX	0.59	(0.06)	0.00	(0.06)	0.00	0.00	0.97	(1.31)	8.30
FALIX	0.48	0.03	0.04	0.06	0.64	(0.49)	1.18	(0.90)	5.50
SDLAX	0.99	(0.32)	0.00	(0.11)	0.00	0.00	1.06	(1.09)	29.00

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