Materials Portfolio Correlations

FIJFX Fund

USD 85.96 0.12 0.14%

The current 90-days correlation between Materials Portfolio and Iaadx is -0.15 (i.e., Good diversification). The correlation of Materials Portfolio 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.

Materials Portfolio Correlation With Market

Good diversification

The correlation between Materials Portfolio Fidelity and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Materials Portfolio Fidelity 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 Materials Portfolio Fidelity. 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 Materials Mutual Fund

0.78	FQIPX	Fidelity Freedom Index	Pair Corr
0.69	FQLSX	Fidelity Flex Freedom	Pair Corr
0.69	FRBDX	Fidelity Freedom 2070	Pair Corr
0.69	FRBEX	Fidelity Freedom 2070	Pair Corr
0.8	FRBHX	Fidelity Freedom 2070	Pair Corr
0.8	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.71	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.7	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.8	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.78	FRBUX	Fidelity Freedom Index	Pair Corr
0.67	FRBVX	Fidelity Freedom Index	Pair Corr
0.66	FRBWX	Fidelity Freedom Index	Pair Corr
0.79	FRBYX	Fidelity Freedom Blend	Pair Corr
0.92	FRBZX	Fidelity Freedom Blend	Pair Corr
0.75	FRAGX	Aggressive Growth	Pair Corr
0.68	FRCFX	Fidelity Freedom Blend	Pair Corr
0.69	FRCHX	Fidelity Freedom Blend	Pair Corr
0.79	FRCKX	Fidelity Freedom Blend	Pair Corr
0.7	FRCLX	Fidelity Freedom Blend	Pair Corr
0.69	FRCNX	Fidelity Freedom Blend	Pair Corr
0.69	FRCQX	Fidelity Sustainable	Pair Corr
0.7	FRCWX	Fidelity Sustainable	Pair Corr
0.69	FRCYX	Fidelity Sustainable	Pair Corr
0.78	FRDCX	Fidelity Sustainable	Pair Corr
0.69	FRDEX	Fidelity Sustainable	Pair Corr
0.77	FRGAX	Growth Allocation Index	Pair Corr

Related Correlations Analysis

	IAADX	FZNOPX	FLAKQX	FURYAX	WMCANX	CPUCX	FBJYGX
IAADX		-0.29	0.3	-0.11	0.22	0.9	0.77	IAADX
FZNOPX	-0.29		0.42	0.92	0.74	-0.26	-0.36	FZNOPX
FLAKQX	0.3	0.42		0.62	0.82	0.28	0.21	FLAKQX
FURYAX	-0.11	0.92	0.62		0.87	-0.14	-0.28	FURYAX
WMCANX	0.22	0.74	0.82	0.87		0.21	0.09	WMCANX
CPUCX	0.9	-0.26	0.28	-0.14	0.21		0.74	CPUCX
FBJYGX	0.77	-0.36	0.21	-0.28	0.09	0.74		FBJYGX
	IAADX	FZNOPX	FLAKQX	FURYAX	WMCANX	CPUCX	FBJYGX

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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

FURYAX	+ 0.92	FZNOPX
CPUCX	+ 0.9	IAADX
WMCANX	+ 0.87	FURYAX
WMCANX	+ 0.82	FLAKQX
FBJYGX	+ 0.77	IAADX
WMCANX	+ 0.74	FZNOPX

High negative correlations

FBJYGX	- 0.36	FZNOPX
FZNOPX	- 0.29	IAADX
FBJYGX	- 0.28	FURYAX
CPUCX	- 0.26	FZNOPX
CPUCX	- 0.14	FURYAX
FURYAX	- 0.11	IAADX

Risk-Adjusted Indicators

There is a big difference between Materials Mutual Fund performing well and Materials Portfolio 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 Materials Portfolio'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
IAADX	0.19	0.01	0.14	0.43	0.15	(0.25)	0.45	(0.34)	0.90
FZNOPX	0.75	0.02	0.03	0.01	0.82	(0.87)	1.55	(1.59)	3.75
FLAKQX	0.84	0.01	0.03	0.23	1.10	(0.94)	1.74	(1.84)	4.80
FURYAX	0.68	0.00	0.00	(0.02)	0.00	0.00	1.21	(1.39)	2.96
WMCANX	0.60	0.02	0.03	0.00	0.75	(0.65)	1.07	(1.24)	3.48
CPUCX	0.25	0.02	0.14	0.20	0.20	(0.31)	0.44	(0.44)	1.45
FBJYGX	0.71	0.12	0.15	(0.50)	0.81	(0.72)	1.76	(1.30)	5.64

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