Fidelity Dividend Correlations

Mutual Funds . USA . 
Fund . Fidelity Dividend Growth
FDGFX Fund  USD 37.73  0.64  1.73%   
The current 90-days correlation between Fidelity Dividend Growth and Fidelity Mid Cap Stock is -0.15 (i.e., Good diversification). The correlation of Fidelity Dividend 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 Dividend Correlation With Market

Good diversification

The correlation between Fidelity Dividend Growth and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Dividend Growth 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 Dividend Growth. 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 census.

Moving together with Fidelity Mutual Fund

  0.97FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.72FRAGX Aggressive GrowthPairCorr
  0.66FRCWX Fidelity SustainablePairCorr
  0.63FRGAX Growth Allocation IndexPairCorr
  0.63FAASX Fidelity Asset ManagerPairCorr
  0.62FAAIX Fidelity Asset ManagerPairCorr
  0.98FACVX Fidelity ConvertiblePairCorr
  0.78FACTX Fidelity Advisor HealthPairCorr
  0.92FACPX Fidelity Advisor SumerPairCorr
  0.91FACGX Fidelity Advisor GrowthPairCorr
  0.8FACDX Fidelity Advisor HealthPairCorr
  0.83FADTX Fidelity Advisor TecPairCorr

Moving against Fidelity Mutual Fund

  0.55FRIRX Fidelity Real EstatePairCorr
  0.5FRINX Fidelity Real EstatePairCorr
  0.5FRIQX Fidelity Real EstatePairCorr
  0.38FRIOX Fidelity Real EstatePairCorr
  0.35FRKMX Fidelity Managed RetPairCorr
  0.34FRIMX Fidelity Income ReplPairCorr
  0.34FRQHX Fidelity Managed RetPairCorr
  0.33FRQIX Fidelity Income ReplPairCorr
  0.31FRQAX Fidelity Income ReplPairCorr
  0.31FADIX Fidelity Advisor DivPairCorr

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   
FDEGX
+ 0.91
FMCSX
FDEGX
+ 0.87
FLPSX
FLPSX
+ 0.8
FMCSX
FLPSX
+ 0.71
FEQIX
FDIVX
+ 0.54
FEQIX
FDEGX
+ 0.54
FEQIX
  
High negative correlations   
FDIVX
- 0.4
FMCSX
FDEGX
- 0.23
FDIVX

Risk-Adjusted Indicators

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