Fidelity Series Correlations

FCNSX Fund

USD 16.22 0.22 1.37%

The current 90-days correlation between Fidelity Series Canada and The Hartford Municipal is -0.17 (i.e., Good 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

Good diversification

The correlation between Fidelity Series Canada and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Canada 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 Canada. 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 state.

Moving together with Fidelity Mutual Fund

0.73	FRBUX	Fidelity Freedom Index	Pair Corr
0.74	FRCLX	Fidelity Freedom Blend	Pair Corr
0.7	FAFSX	Fidelity Advisor Fin	Pair Corr
0.71	FAMRX	Fidelity Asset Manager	Pair Corr
0.72	FASMX	Fidelity Asset Manager	Pair Corr
0.61	FASIX	Fidelity Asset Manager	Pair Corr
0.65	FASGX	Fidelity Asset Manager	Pair Corr
0.68	FSNOX	Fidelity Freedom 2020	Pair Corr
0.78	FTFFX	Fidelity Advisor Freedom	Pair Corr
0.64	FCLKX	Fidelity Large Cap	Pair Corr
0.66	FDCPX	Computers Portfolio	Pair Corr

Related Correlations Analysis

	HHMYX	RGVCX	ABIMX	HMKAX	BBINX	BMBSX
HHMYX		0.83	0.87	0.98	0.94	0.98	HHMYX
RGVCX	0.83		0.68	0.76	0.84	0.86	RGVCX
ABIMX	0.87	0.68		0.9	0.95	0.88	ABIMX
HMKAX	0.98	0.76	0.9		0.92	0.98	HMKAX
BBINX	0.94	0.84	0.95	0.92		0.94	BBINX
BMBSX	0.98	0.86	0.88	0.98	0.94		BMBSX
	HHMYX	RGVCX	ABIMX	HMKAX	BBINX	BMBSX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
HHMYX	0.14	(0.01)	0.10	(0.35)	0.19	(0.19)	0.36	(0.36)	0.84
RGVCX	0.25	0.02	0.17	1.40	0.23	(0.30)	0.51	(0.50)	1.38
ABIMX	0.23	(0.02)	0.00	0.51	0.00	0.00	0.51	(0.51)	1.44
HMKAX	0.17	(0.01)	0.00	(0.43)	0.00	0.00	0.30	(0.40)	1.00
BBINX	0.13	(0.01)	0.12	0.28	0.17	(0.18)	0.29	(0.30)	0.78
BMBSX	0.10	(0.01)	0.12	(0.40)	0.15	(0.13)	0.18	(0.26)	0.71

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC

Fidelity Series Correlations

Fidelity Series Correlation With Market

Good diversification

Moving together with Fidelity Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY