Fidelity Mega Correlations
| FGRCX Fund | USD 24.15 0.54 2.29% |
The current 90-days correlation between Fidelity Mega Cap and Ab Small Cap is 0.9 (i.e., Almost no diversification). The correlation of Fidelity Mega 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 Mega Correlation With Market
Poor diversification
The correlation between Fidelity Mega Cap and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Mega Cap and DJI in the same portfolio, assuming nothing else is changed.
Fidelity |
Moving together with Fidelity Mutual Fund
| 0.8 | FQLSX | Fidelity Flex Freedom | PairCorr |
| 0.7 | FRCPX | Fidelity Freedom Blend | PairCorr |
| 0.83 | FRLPX | Fidelity Freedom Index | PairCorr |
| 0.63 | FAASX | Fidelity Asset Manager | PairCorr |
| 0.63 | FAAIX | Fidelity Asset Manager | PairCorr |
| 0.64 | FACPX | Fidelity Advisor Sumer | PairCorr |
| 0.91 | FACGX | Fidelity Advisor Growth | PairCorr |
| 0.87 | FAFSX | Fidelity Advisor Fin | PairCorr |
| 0.79 | FAFFX | Fidelity Advisor Freedom | PairCorr |
| 0.65 | FAFEX | Fidelity Advisor Freedom | PairCorr |
| 0.88 | FAFDX | Fidelity Advisor Fin | PairCorr |
| 0.77 | FAFCX | Fidelity Advisor Fin | PairCorr |
| 0.91 | FAGOX | Fidelity Advisor Growth | PairCorr |
| 0.74 | FAGNX | Fidelity Advisor Energy | PairCorr |
| 0.73 | FAGKX | Fidelity Growth Stra | PairCorr |
| 0.89 | FAGIX | Fidelity Capital Income | PairCorr |
| 0.85 | FAGCX | Fidelity Advisor Growth | PairCorr |
| 0.91 | FAGAX | Fidelity Advisor Growth | PairCorr |
Related Correlations Analysis
| 0.96 | 0.17 | -0.53 | 0.74 | 0.83 | QUAZX | ||
| 0.96 | 0.14 | -0.62 | 0.68 | 0.78 | NESGX | ||
| 0.17 | 0.14 | 0.22 | 0.19 | 0.16 | KSCYX | ||
| -0.53 | -0.62 | 0.22 | -0.1 | -0.21 | TISVX | ||
| 0.74 | 0.68 | 0.19 | -0.1 | 0.95 | NSMAX | ||
| 0.83 | 0.78 | 0.16 | -0.21 | 0.95 | SECAX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Fidelity Mutual Fund performing well and Fidelity Mega 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 Mega'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| QUAZX | 1.25 | (0.18) | 0.00 | (0.27) | 0.00 | 1.93 | 6.73 | |||
| NESGX | 1.42 | (0.14) | 0.00 | (0.24) | 0.00 | 2.23 | 8.46 | |||
| KSCYX | 1.59 | 0.04 | 0.00 | (0.06) | 0.00 | 3.29 | 9.10 | |||
| TISVX | 0.77 | 0.00 | 0.10 | (0.12) | 1.34 | 1.75 | 9.81 | |||
| NSMAX | 0.92 | (0.31) | 0.00 | (1.21) | 0.00 | 1.32 | 9.04 | |||
| SECAX | 1.04 | (0.23) | 0.00 | (0.35) | 0.00 | 1.45 | 11.97 |