Fidelity New Correlations

Mutual Funds . USA . 
Fund . Fidelity New Markets
FGYMX Fund  USD 12.92  0.02  0.15%   
The current 90-days correlation between Fidelity New Markets and Cref Inflation Linked Bond is 0.04 (i.e., Significant diversification). The correlation of Fidelity New 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 New Correlation With Market

Average diversification

The correlation between Fidelity New Markets and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity New Markets 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 New Markets. 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 population.

Moving together with Fidelity Mutual Fund

  0.9FPTKX Fidelity Freedom 2015PairCorr
  0.83FPXTX Fidelity PennsylvaniaPairCorr
  0.72FQIFX Fidelity Freedom IndexPairCorr
  0.91FQITX Fidelity Salem StreetPairCorr
  0.9FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  0.86FRESX Fidelity Real EstatePairCorr
  0.87FRIFX Fidelity Real EstatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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