Fidelity Series Correlations

FHNFX Fund

USD 9.17 0.02 0.22%

The current 90-days correlation between Fidelity Series Gove and Ashmore Emerging Markets is 0.64 (i.e., Poor 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

Average diversification

The correlation between Fidelity Series Government 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 Series Government 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 Government. 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 census.

Moving together with Fidelity Mutual Fund

0.89	FPTKX	Fidelity Freedom 2015	Pair Corr
0.92	FPXTX	Fidelity Pennsylvania	Pair Corr
0.87	FQIFX	Fidelity Freedom Index	Pair Corr
0.73	FQIPX	Fidelity Freedom Index	Pair Corr
0.69	FQITX	Fidelity Salem Street	Pair Corr
0.77	FQLSX	Fidelity Flex Freedom	Pair Corr
0.71	FRAGX	Aggressive Growth	Pair Corr
0.91	FRAMX	Fidelity Income Repl	Pair Corr
0.89	FRASX	Fidelity Income Repl	Pair Corr
0.75	FRGAX	Growth Allocation Index	Pair Corr
0.74	FRESX	Fidelity Real Estate	Pair Corr
0.91	FRIFX	Fidelity Real Estate	Pair Corr
0.91	FRIMX	Fidelity Income Repl	Pair Corr
0.91	FRINX	Fidelity Real Estate	Pair Corr
0.91	FRIOX	Fidelity Real Estate	Pair Corr
0.91	FRIQX	Fidelity Real Estate	Pair Corr
0.9	FRHMX	Fidelity Managed Ret	Pair Corr
0.9	FRKMX	Fidelity Managed Ret	Pair Corr
0.91	FRIRX	Fidelity Real Estate	Pair Corr
0.73	FRLPX	Fidelity Freedom Index	Pair Corr
0.91	FROGX	Fidelity Municipal Income	Pair Corr
0.9	FRQHX	Fidelity Managed Ret	Pair Corr
0.91	FRQIX	Fidelity Income Repl	Pair Corr
0.9	FRQKX	Fidelity Managed Ret	Pair Corr
0.91	FRQAX	Fidelity Income Repl	Pair Corr
0.65	FAASX	Fidelity Asset Manager	Pair Corr
0.66	FAAIX	Fidelity Asset Manager	Pair Corr
0.67	FACNX	Fidelity Canada	Pair Corr
0.85	FACFX	Fidelity Advisor Freedom	Pair Corr
0.91	FADMX	Fidelity Advisor Str	Pair Corr

Moving against Fidelity Mutual Fund

0.39

FRPCX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	IGIEX	SEKRX	CDHIX	BXECX	JDJRX	EMSLX	SEDAX	TEDMX
IGIEX		0.73	0.88	0.87	0.39	0.76	0.93	0.83	IGIEX
SEKRX	0.73		0.76	0.65	0.27	0.82	0.69	0.85	SEKRX
CDHIX	0.88	0.76		0.93	0.59	0.81	0.95	0.87	CDHIX
BXECX	0.87	0.65	0.93		0.61	0.76	0.94	0.81	BXECX
JDJRX	0.39	0.27	0.59	0.61		0.32	0.58	0.39	JDJRX
EMSLX	0.76	0.82	0.81	0.76	0.32		0.81	0.93	EMSLX
SEDAX	0.93	0.69	0.95	0.94	0.58	0.81		0.86	SEDAX
TEDMX	0.83	0.85	0.87	0.81	0.39	0.93	0.86		TEDMX
	IGIEX	SEKRX	CDHIX	BXECX	JDJRX	EMSLX	SEDAX	TEDMX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IGIEX	0.26	0.04	0.12	0.64	0.20	(0.33)	0.72	(0.48)	1.70
SEKRX	0.63	0.03	0.04	0.70	0.78	(0.68)	1.34	(1.56)	3.71
CDHIX	0.56	0.08	0.11	(0.64)	0.63	(0.60)	1.20	(0.93)	3.59
BXECX	0.21	0.03	0.12	(0.68)	0.06	(0.30)	0.54	(0.40)	1.35
JDJRX	0.36	0.06	0.17	1.41	0.24	(0.46)	0.88	(0.64)	2.40
EMSLX	0.62	0.03	0.04	0.18	0.86	(0.60)	1.25	(1.34)	3.47
SEDAX	0.25	0.04	0.14	0.58	0.15	(0.32)	0.60	(0.36)	1.56
TEDMX	0.64	0.08	0.10	0.22	0.70	(0.72)	1.46	(1.59)	3.66

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC