Fidelity Series Correlations

FINVX Fund

USD 13.19 0.06 0.46%

The current 90-days correlation between Fidelity Series Inte and T Rowe Price is 0.52 (i.e., Very weak 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

Very weak diversification

The correlation between Fidelity Series International and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series International 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 International. 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 real.

Moving together with Fidelity Mutual Fund

0.81	FPTKX	Fidelity Freedom 2015	Pair Corr
0.7	FQIFX	Fidelity Freedom Index	Pair Corr
0.85	FQIPX	Fidelity Freedom Index	Pair Corr
0.94	FQITX	Fidelity Salem Street	Pair Corr
0.64	FQLSX	Fidelity Flex Freedom	Pair Corr
0.78	FRAGX	Aggressive Growth	Pair Corr
0.89	FRAMX	Fidelity Income Repl	Pair Corr
0.89	FRASX	Fidelity Income Repl	Pair Corr
0.81	FRGAX	Growth Allocation Index	Pair Corr
0.84	FRIFX	Fidelity Real Estate	Pair Corr
0.9	FRIMX	Fidelity Income Repl	Pair Corr
0.83	FRINX	Fidelity Real Estate	Pair Corr
0.8	FRIOX	Fidelity Real Estate	Pair Corr
0.83	FRIQX	Fidelity Real Estate	Pair Corr
0.86	FRHMX	Fidelity Managed Ret	Pair Corr
0.86	FRKMX	Fidelity Managed Ret	Pair Corr
0.84	FRIRX	Fidelity Real Estate	Pair Corr
0.85	FRLPX	Fidelity Freedom Index	Pair Corr
0.86	FRQHX	Fidelity Managed Ret	Pair Corr
0.89	FRQIX	Fidelity Income Repl	Pair Corr
0.85	FRQKX	Fidelity Managed Ret	Pair Corr
0.88	FRPDX	Fidelity Sai Alternative	Pair Corr
0.89	FRQAX	Fidelity Income Repl	Pair Corr
0.85	FACFX	Fidelity Advisor Freedom	Pair Corr
0.81	FADMX	Fidelity Advisor Str	Pair Corr

Moving against Fidelity Mutual Fund

0.34

FADTX

Fidelity Advisor Tec

Pair Corr

Related Correlations Analysis

	PGTIX	JGLTX	TEPIX	PGKAX	ROGSX	RAGTX
PGTIX		0.92	0.43	0.7	0.55	0.77	PGTIX
JGLTX	0.92		0.51	0.83	0.64	0.86	JGLTX
TEPIX	0.43	0.51		0.76	0.6	0.4	TEPIX
PGKAX	0.7	0.83	0.76		0.62	0.78	PGKAX
ROGSX	0.55	0.64	0.6	0.62		0.62	ROGSX
RAGTX	0.77	0.86	0.4	0.78	0.62		RAGTX
	PGTIX	JGLTX	TEPIX	PGKAX	ROGSX	RAGTX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PGTIX	1.13	(0.01)	(0.04)	2.10	(2.62)	7.76
JGLTX	0.99	(0.03)	(0.07)	1.73	(2.20)	6.33
TEPIX	1.79	(0.19)	(0.18)	2.79	(4.80)	13.50
PGKAX	1.33	(0.11)	(0.18)	2.17	(3.18)	9.54
ROGSX	1.03	(0.08)	0.30	1.67	(3.25)	7.12
RAGTX	1.21	(0.04)	(0.09)	2.20	(3.08)	7.51

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