Fidelity Series Correlations

Mutual Funds . USA . 
Fund . Fidelity Series Growth
FGLGX Fund  USD 23.31  0.02  0.09%   
The current 90-days correlation between Fidelity Series Growth and Gmo High Yield is -0.2 (i.e., Good diversification). The correlation of Fidelity Series 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 Series Correlation With Market

Poor diversification

The correlation between Fidelity Series Growth and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series 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 Series 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 price.

Moving together with Fidelity Mutual Fund

  0.9FPURX Fidelity PuritanPairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.79FQLSX Fidelity Flex FreedomPairCorr
  0.67FRBDX Fidelity Freedom 2070PairCorr
  0.67FRBHX Fidelity Freedom 2070PairCorr
  0.66FRBLX Fidelity Advisor FreedomPairCorr
  0.65FRBUX Fidelity Freedom IndexPairCorr
  0.67FRBYX Fidelity Freedom BlendPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.67FRCFX Fidelity Freedom BlendPairCorr
  0.67FRCLX Fidelity Freedom BlendPairCorr
  0.71FRCWX Fidelity SustainablePairCorr
  0.86FRGAX Growth Allocation IndexPairCorr
  0.79FRLPX Fidelity Freedom IndexPairCorr
  0.68FAASX Fidelity Asset ManagerPairCorr
  0.68FAAIX Fidelity Asset ManagerPairCorr
  0.71FACVX Fidelity ConvertiblePairCorr
  0.68FACPX Fidelity Advisor SumerPairCorr
  0.72FACNX Fidelity CanadaPairCorr
  0.88FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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