Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex 500
FDFIX Fund  USD 24.25  0.02  0.08%   
The current 90-days correlation between Fidelity Flex 500 and Fidelity Flex International is 0.67 (i.e., Poor diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Poor diversification

The correlation between Fidelity Flex 500 and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Flex 500 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 Flex 500. 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.75FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.65FQLSX Fidelity Flex FreedomPairCorr
  0.62FRBEX Fidelity Freedom 2070PairCorr
  0.63FRBQX Fidelity Flex FreedomPairCorr
  0.61FRBVX Fidelity Freedom IndexPairCorr
  0.64FRBZX Fidelity Freedom BlendPairCorr
  0.71FRAGX Aggressive GrowthPairCorr
  0.67FRCKX Fidelity Freedom BlendPairCorr
  0.64FRCNX Fidelity Freedom BlendPairCorr
  0.63FRCPX Fidelity Freedom BlendPairCorr
  0.79FRCRX Fidelity SustainablePairCorr
  0.64FRCYX Fidelity SustainablePairCorr
  0.72FRDCX Fidelity SustainablePairCorr
  0.69FRDEX Fidelity SustainablePairCorr
  0.71FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FLXSX
+ 0.91
FLAPX
FIBUX
+ 0.69
FUENX
FUENX
+ 0.64
FITFX
FIBUX
+ 0.64
FITFX
  
High negative correlations   
FIBUX
- 0.74
FLXSX
FIBUX
- 0.57
FLAPX
FUENX
- 0.37
FLXSX
FLXSX
- 0.34
FITFX
FUENX
- 0.31
FLAPX
FLAPX
- 0.24
FITFX

Risk-Adjusted Indicators

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