Fidelity Disciplined Correlations

FDEQX Fund

USD 64.79 0.27 0.42%

The current 90-days correlation between Fidelity Disciplined and Fidelity Stock Selector is 0.9 (i.e., Almost no diversification). The correlation of Fidelity Disciplined 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 Disciplined Correlation With Market

Good diversification

The correlation between Fidelity Disciplined Equity and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Disciplined Equity 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 Disciplined Equity. 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 producer price index.

Moving together with Fidelity Mutual Fund

0.86	FPURX	Fidelity Puritan	Pair Corr
0.93	FPUKX	Fidelity Puritan	Pair Corr
0.61	FRBHX	Fidelity Freedom 2070	Pair Corr
0.78	FRAGX	Aggressive Growth	Pair Corr
0.62	FRCLX	Fidelity Freedom Blend	Pair Corr
0.67	FRCWX	Fidelity Sustainable	Pair Corr
0.7	FRGAX	Growth Allocation Index	Pair Corr
0.97	FACVX	Fidelity Convertible	Pair Corr
0.81	FACPX	Fidelity Advisor Sumer Steady Growth	Pair Corr
0.92	FACGX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.44	FRIFX	Fidelity Real Estate	Pair Corr
0.4	FRKMX	Fidelity Managed Ret	Pair Corr
0.39	FRIQX	Fidelity Real Estate	Pair Corr
0.39	FRIRX	Fidelity Real Estate	Pair Corr
0.38	FRINX	Fidelity Real Estate	Pair Corr
0.37	FRIOX	Fidelity Real Estate	Pair Corr
0.32	FRIMX	Fidelity Income Repl	Pair Corr
0.41	FAFAX	Fidelity Advisor Freedom	Pair Corr

Related Correlations Analysis

	FDSSX	FTRNX	FFTYX	FDSCX	FWWFX
FDSSX		0.86	0.86	0.86	0.88	FDSSX
FTRNX	0.86		0.96	0.98	0.93	FTRNX
FFTYX	0.86	0.96		0.96	0.93	FFTYX
FDSCX	0.86	0.98	0.96		0.96	FDSCX
FWWFX	0.88	0.93	0.93	0.96		FWWFX
	FDSSX	FTRNX	FFTYX	FDSCX	FWWFX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Disciplined 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 Disciplined'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FDSSX	0.95	(0.16)	2.54	1.62	(2.11)	5.14
FTRNX	1.53	(0.23)	1.50	2.51	(3.78)	8.24
FFTYX	0.82	(0.12)	(0.14)	1.40	(1.82)	4.08
FDSCX	0.91	(0.10)	(0.10)	1.87	(2.04)	4.62
FWWFX	1.09	(0.10)	2.86	1.93	(2.31)	6.48

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