Fidelity Founders Correlations

FIFNX Fund

USD 24.93 0.17 0.69%

The current 90-days correlation between Fidelity Founders and Fidelity Advisor Stock is 0.72 (i.e., Poor diversification). The correlation of Fidelity Founders 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 Founders Correlation With Market

Weak diversification

The correlation between Fidelity Founders and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Founders 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 Founders. 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 board of governors.

Moving together with Fidelity Mutual Fund

0.62	FPTKX	Fidelity Freedom 2015	Pair Corr
0.97	FPURX	Fidelity Puritan	Pair Corr
0.97	FPUKX	Fidelity Puritan	Pair Corr
0.73	FPXTX	Fidelity Pennsylvania	Pair Corr
0.7	FQIFX	Fidelity Freedom Index	Pair Corr
0.85	FQIPX	Fidelity Freedom Index	Pair Corr
0.74	FQLSX	Fidelity Flex Freedom	Pair Corr
0.92	FRAGX	Aggressive Growth	Pair Corr
0.64	FRASX	Fidelity Income Repl	Pair Corr
0.61	FRIMX	Fidelity Income Repl	Pair Corr
0.62	FRKMX	Fidelity Managed Ret	Pair Corr
0.62	FRQHX	Fidelity Managed Ret	Pair Corr
0.61	FRQIX	Fidelity Income Repl	Pair Corr
0.69	FAASX	Fidelity Asset Manager	Pair Corr
0.69	FAAIX	Fidelity Asset Manager	Pair Corr
0.89	FACVX	Fidelity Convertible	Pair Corr
0.72	FACGX	Fidelity Advisor Growth	Pair Corr
0.77	FADTX	Fidelity Advisor Tec	Pair Corr
0.83	FADMX	Fidelity Advisor Str	Pair Corr
0.63	FADAX	Fidelity Advisor Dividend	Pair Corr
0.87	FAFSX	Fidelity Advisor Fin	Pair Corr
0.65	FAFFX	Fidelity Advisor Freedom	Pair Corr
0.87	FAFDX	Fidelity Advisor Fin	Pair Corr
0.86	FAFCX	Fidelity Advisor Fin	Pair Corr
0.73	FAGOX	Fidelity Advisor Growth	Pair Corr
0.8	FAGIX	Fidelity Capital Income	Pair Corr
0.73	FAGCX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.32

FSAGX

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Pair Corr

Related Correlations Analysis

	FSSMX	FNIDX	FGILX	FNDSX	FWOMX
FSSMX		0.32	0.83	0.62	0.91	FSSMX
FNIDX	0.32		0.69	0.74	0.4	FNIDX
FGILX	0.83	0.69		0.79	0.89	FGILX
FNDSX	0.62	0.74	0.79		0.68	FNDSX
FWOMX	0.91	0.4	0.89	0.68		FWOMX
	FSSMX	FNIDX	FGILX	FNDSX	FWOMX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Founders 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 Founders' 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
FSSMX	0.78	(0.01)	(0.02)	0.03	1.09	(0.75)	1.60	(1.29)	8.15
FNIDX	0.57	(0.07)	0.00	(0.19)	0.00	0.00	1.04	(1.27)	3.62
FGILX	0.46	(0.02)	0.00	(0.03)	0.00	0.00	0.97	(1.28)	3.50
FNDSX	0.25	(0.04)	0.00	(0.42)	0.00	0.00	0.54	(0.55)	1.53
FWOMX	0.60	0.01	(0.02)	0.07	0.87	(0.58)	1.17	(1.32)	5.03

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