Fidelity Trafund Correlations

Mutual Funds . USA . 
Fund . Fidelity Trafund Class
FCNKX Fund  USD 21.08  0.10  0.48%   
The current 90-days correlation between Fidelity Trafund Class and The Gold Bullion is 0.18 (i.e., Average diversification). The correlation of Fidelity Trafund 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 Trafund Correlation With Market

Poor diversification

The correlation between Fidelity Trafund Class and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Trafund Class 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 Trafund Class. 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 industry.

Moving together with Fidelity Mutual Fund

  0.95FPURX Fidelity PuritanPairCorr
  0.95FPUKX Fidelity PuritanPairCorr
  0.77FQLSX Fidelity Flex FreedomPairCorr
  0.66FRBDX Fidelity Freedom 2070PairCorr
  0.65FRBHX Fidelity Freedom 2070PairCorr
  0.64FRBLX Fidelity Advisor FreedomPairCorr
  0.61FRBOX Fidelity Advisor FreedomPairCorr
  0.64FRBUX Fidelity Freedom IndexPairCorr
  0.67FRBYX Fidelity Freedom BlendPairCorr
  0.9FRAGX Aggressive GrowthPairCorr
  0.66FRCFX Fidelity Freedom BlendPairCorr
  0.66FRCLX Fidelity Freedom BlendPairCorr
  0.71FRCWX Fidelity SustainablePairCorr
  0.84FRGAX Growth Allocation IndexPairCorr
  0.76FRLPX Fidelity Freedom IndexPairCorr
  0.73FAASX Fidelity Asset ManagerPairCorr
  0.73FAAIX Fidelity Asset ManagerPairCorr
  0.78FACVX Fidelity ConvertiblePairCorr
  0.78FACPX Fidelity Advisor SumerPairCorr
  0.67FACNX Fidelity CanadaPairCorr
  0.94FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Trafund 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 Trafund'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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