Fidelity Dividend Correlations

Etfs USA . 
Etf . Fidelity Dividend ETF
FDRR Etf  USD 52.91  0.11  0.21%   
The current 90-days correlation between Fidelity Dividend ETF and Fidelity High Dividend is 0.88 (i.e., Very poor 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

Average diversification

The correlation between Fidelity Dividend ETF and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Dividend ETF 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 ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Fidelity Etf

  0.79VTV Vanguard Value IndexPairCorr
  0.9VYM Vanguard High DividendPairCorr
  0.84IWD iShares Russell 1000PairCorr
  0.85DGRO iShares Core DividendPairCorr
  0.8IVE iShares SP 500PairCorr
  0.78DVY iShares Select DividendPairCorr
  0.89SPYV SPDR Portfolio SPPairCorr
  0.77FVD First Trust ValuePairCorr
  0.91IUSV iShares Core SPPairCorr
  0.91SIXD AIM ETF ProductsPairCorr
  0.71CEFD ETRACS Monthly PayPairCorr
  0.81TSJA TSJAPairCorr
  0.83DSJA DSJAPairCorr
  0.91JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.76CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.78TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.75AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.79WMT WalmartPairCorr
  0.74T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr

Moving against Fidelity Etf

  0.89ULE ProShares Ultra EuroPairCorr
  0.79VIIX VIIXPairCorr
  0.75YCL ProShares Ultra YenPairCorr
  0.71FXY Invesco CurrencySharesPairCorr
  0.65PFFL ETRACS 2xMonthly PayPairCorr
  0.76MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.76KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.73PFE Pfizer Inc Aggressive PushPairCorr
  0.68JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.34GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Fidelity Dividend Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Dividend ETF 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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