Gold Portfolio Correlations

FGDTX Fund

USD 23.88 0.12 0.50%

The current 90-days correlation between Gold Portfolio Fidelity and Goldman Sachs High is -0.06 (i.e., Good diversification). The correlation of Gold Portfolio 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.

Gold Portfolio Correlation With Market

Average diversification

The correlation between Gold Portfolio Fidelity 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 Gold Portfolio Fidelity 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 Gold Portfolio Fidelity. 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 estimate.

Moving together with Gold Mutual Fund

0.71	FQITX	Fidelity Salem Street	Pair Corr
0.7	FRESX	Fidelity Real Estate	Pair Corr
0.71	FRIFX	Fidelity Real Estate	Pair Corr
0.7	FRINX	Fidelity Real Estate	Pair Corr
0.73	FRIOX	Fidelity Real Estate	Pair Corr
0.72	FRIQX	Fidelity Real Estate	Pair Corr
0.69	FRIRX	Fidelity Real Estate	Pair Corr
0.71	FRPDX	Fidelity Sai Alternative	Pair Corr
0.66	FACTX	Fidelity Advisor Health	Pair Corr

Moving against Gold Mutual Fund

0.76	FRPCX	Fidelity Sai Alternative	Pair Corr
0.57	FACGX	Fidelity Advisor Growth	Pair Corr
0.54	FACPX	Fidelity Advisor Sumer	Pair Corr

Related Correlations Analysis

	GFRIX	NEAIX	FLOKX	XAWFX	QLMABX	PHDTX	MAHIX
GFRIX		0.53	0.24	0.14	0.65	0.68	0.72	GFRIX
NEAIX	0.53		0.74	0.57	0.86	0.81	0.77	NEAIX
FLOKX	0.24	0.74		0.71	0.82	0.71	0.71	FLOKX
XAWFX	0.14	0.57	0.71		0.55	0.7	0.62	XAWFX
QLMABX	0.65	0.86	0.82	0.55		0.82	0.86	QLMABX
PHDTX	0.68	0.81	0.71	0.7	0.82		0.93	PHDTX
MAHIX	0.72	0.77	0.71	0.62	0.86	0.93		MAHIX
	GFRIX	NEAIX	FLOKX	XAWFX	QLMABX	PHDTX	MAHIX

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Risk-Adjusted Indicators

There is a big difference between Gold Mutual Fund performing well and Gold Portfolio 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 Gold Portfolio'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GFRIX	0.04	0.00	(0.10)	0.03	0.00	(0.19)	0.11	(0.11)	0.79
NEAIX	1.04	(0.01)	(0.01)	(0.02)	1.26	(1.12)	2.16	(2.11)	8.12
FLOKX	0.50	(0.04)	0.00	(0.34)	0.00	0.00	0.93	(1.05)	3.93
XAWFX	0.13	(0.03)	0.00	(1.75)	0.00	0.00	0.18	(0.44)	0.88
QLMABX	0.52	(0.04)	0.00	(0.38)	0.00	0.00	0.82	(1.07)	4.68
PHDTX	0.10	(0.01)	(0.10)	(0.84)	0.13	(0.12)	0.11	(0.22)	0.78
MAHIX	0.09	(0.01)	(0.09)	(0.51)	0.15	(0.11)	0.10	(0.20)	0.90

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