Financial Services Correlations

Mutual Funds . USA . 
Fund . Financial Services Portfolio
FIDSX Fund  USD 15.67  0.26  1.69%   
The current 90-days correlation between Financial Services and Banking Portfolio Banking is 0.9 (i.e., Almost no diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Very weak diversification

The correlation between Financial Services Portfolio and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services Portfolio 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 Financial Services Portfolio. 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 state.

Moving together with FINANCIAL Mutual Fund

  0.74FPTKX Fidelity Freedom 2015PairCorr
  0.8FPURX Fidelity PuritanPairCorr
  0.65FPXTX Fidelity PennsylvaniaPairCorr
  0.81FQIFX Fidelity Freedom IndexPairCorr
  0.69FRGAX Growth Allocation IndexPairCorr
  0.86FRESX Fidelity Real EstatePairCorr
  0.65FRIFX Fidelity Real EstatePairCorr
  0.62FRIMX Fidelity Income ReplPairCorr
  0.61FRHMX Fidelity Managed RetPairCorr
  0.64FRQAX Fidelity Income ReplPairCorr
  0.85FAASX Fidelity Asset ManagerPairCorr
  0.85FAAIX Fidelity Asset ManagerPairCorr
  0.77FACTX Fidelity Advisor HealthPairCorr
  0.78FACDX Fidelity Advisor HealthPairCorr
  0.65FADMX Fidelity Advisor StrPairCorr
  0.75FADAX Fidelity Advisor DividendPairCorr
  0.96FAFSX Fidelity Advisor FinPairCorr
  0.96FAFDX Fidelity Advisor FinPairCorr
  0.97FAFCX Fidelity Advisor FinPairCorr
  0.91FALIX Fidelity Advisor LargePairCorr
  0.9FALAX Fidelity Advisor LargePairCorr
  0.66FSAZX Fidelity Arizona MunPairCorr
  0.86FAMRX Fidelity Asset ManagerPairCorr
  0.75FSCDX Fidelity Advisor SmallPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between FINANCIAL Mutual Fund performing well and Financial Services 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 Financial Services' 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.

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
 
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