Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FCVCX Fund  USD 15.23  0.11  0.72%   
The current 90-days correlation between Fidelity Small Cap and Pimco Inflation Response is 0.05 (i.e., Significant 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

Good diversification

The correlation between Fidelity Small Cap and DJI is -0.05 (i.e., Good 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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Small Cap. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.78VSIIX Vanguard Small CapPairCorr
  0.78VISVX Vanguard Small CapPairCorr
  0.99DFSVX Us Small CapPairCorr
  0.78DFFVX Us Targeted ValuePairCorr
  0.78UBVCX Undiscovered ManagersPairCorr
  0.79UBVAX Undiscovered ManagersPairCorr
  0.79UBVSX Undiscovered ManagersPairCorr
  0.7JPM JPMorgan ChasePairCorr
  0.68CAT CaterpillarPairCorr
  0.61BA BoeingPairCorr
  0.87AXP American ExpressPairCorr
  0.82BAC Bank of AmericaPairCorr

Moving against Fidelity Mutual Fund

  0.46T ATT Inc Earnings Call TomorrowPairCorr
  0.67VZ Verizon CommunicationsPairCorr
  0.55PG Procter GamblePairCorr
  0.51JNJ Johnson JohnsonPairCorr

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.

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