Fidelity Small Correlations
| FCPVX Fund | USD 22.23 0.02 0.09% |
The current 90-days correlation between Fidelity Small Cap and Vanguard Small Cap Value is 0.87 (i.e., Very poor diversification). The correlation of Fidelity Small 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 Small Correlation With Market
Very poor diversification
The correlation between Fidelity Small Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small Cap and DJI in the same portfolio, assuming nothing else is changed.
Fidelity |
Moving together with Fidelity Mutual Fund
Moving against Fidelity Mutual Fund
| 0.49 | FQITX | Fidelity Salem Street | PairCorr |
| 0.33 | FRIOX | Fidelity Real Estate | PairCorr |
| 0.31 | FRAMX | Fidelity Income Repl | PairCorr |
| 0.31 | FRINX | Fidelity Real Estate | PairCorr |
| 0.39 | FAERX | Fidelity Advisor Overseas | PairCorr |
| 0.36 | FADCX | Fidelity Advisor Div | PairCorr |
| 0.35 | FADIX | Fidelity Advisor Div | PairCorr |
Related Correlations Analysis
| 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 Small 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 Small'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VSIIX | 0.72 | 0.00 | 0.02 | 0.12 | 0.64 | 1.66 | 5.73 | |||
| VISVX | 0.73 | 0.00 | 0.02 | 0.12 | 0.63 | 1.65 | 5.74 | |||
| DFSVX | 0.90 | (0.06) | 0.01 | 0.09 | 0.84 | 1.93 | 8.30 | |||
| DFFVX | 0.90 | (0.04) | 0.03 | 0.10 | 0.84 | 1.90 | 8.01 | |||
| UBVCX | 0.75 | (0.05) | (0.02) | 0.09 | 0.69 | 1.54 | 7.64 | |||
| UBVAX | 0.75 | (0.04) | (0.02) | 0.09 | 0.69 | 1.55 | 7.63 | |||
| UBVSX | 0.76 | (0.04) | (0.02) | 0.09 | 0.69 | 1.56 | 7.62 | |||
| AVFIX | 0.86 | (0.04) | 0.01 | 0.10 | 0.77 | 1.92 | 7.34 |