Fidelity Telecom Correlations

FIUIX Fund

USD 34.81 0.20 0.57%

The current 90-days correlation between Fidelity Telecom And and Consumer Discretionary Portfolio is -0.02 (i.e., Good diversification). The correlation of Fidelity Telecom 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 Telecom Correlation With Market

Modest diversification

The correlation between Fidelity Telecom And and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Telecom And 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 Telecom And. 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 gross domestic product.

Moving together with Fidelity Mutual Fund

0.73	AY	Atlantica Sustainable	Pair Corr
0.85	NI	NiSource	Pair Corr
0.66	SR	Spire Inc	Pair Corr
0.68	CDZIP	Cadiz Depositary Shares	Pair Corr
0.66	ELLO	Ellomay Capital	Pair Corr
0.66	EVRG	Evergy, Sell-off Trend	Pair Corr
0.85	AEE	Ameren Corp	Pair Corr
0.63	AGR	Avangrid	Pair Corr
0.76	ALE	Allete Inc	Pair Corr
0.81	ATO	Atmos Energy	Pair Corr
0.77	BIP	Brookfield Infrastructure	Pair Corr
0.66	BKH	Black Hills	Pair Corr
0.89	CNP	CenterPoint Energy	Pair Corr
0.68	CPK	Chesapeake Utilities	Pair Corr

Moving against Fidelity Mutual Fund

0.69	ELPC	Companhia Paranaense	Pair Corr
0.63	DUKB	Duke Energy Corp	Pair Corr
0.44	RNWWW	ReNew Energy Global	Pair Corr
0.41	ES	Eversource Energy	Pair Corr
0.4	AEP	American Electric Power	Pair Corr
0.38	FE	FirstEnergy	Pair Corr
0.36	HE	Hawaiian Electric	Pair Corr
0.76	EBR	Centrais Electricas	Pair Corr
0.69	ELP	Companhia Paranaense	Pair Corr
0.61	DTW	DTE Energy	Pair Corr
0.59	AES	AES	Pair Corr
0.55	CWT	California Water Service	Pair Corr
0.54	AWK	American Water Works	Pair Corr
0.5	AQN	Algonquin Power Utilities	Pair Corr
0.46	CIG	Companhia Energetica	Pair Corr

Related Correlations Analysis

	FSCPX	FSTCX	FDFAX	FIDSX	FSRFX
FSCPX		0.89	-0.28	0.88	0.76	FSCPX
FSTCX	0.89		-0.41	0.95	0.89	FSTCX
FDFAX	-0.28	-0.41		-0.5	-0.48	FDFAX
FIDSX	0.88	0.95	-0.5		0.94	FIDSX
FSRFX	0.76	0.89	-0.48	0.94		FSRFX
	FSCPX	FSTCX	FDFAX	FIDSX	FSRFX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FIDSX	+ 0.95	FSTCX
FSRFX	+ 0.94	FIDSX
FSTCX	+ 0.89	FSCPX
FSRFX	+ 0.89	FSTCX
FIDSX	+ 0.88	FSCPX
FSRFX	+ 0.76	FSCPX

High negative correlations

FIDSX	- 0.5	FDFAX
FSRFX	- 0.48	FDFAX
FDFAX	- 0.41	FSTCX
FDFAX	- 0.28	FSCPX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Telecom 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 Telecom'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
FSCPX	0.80	0.31	0.23	(92.13)	0.45	(0.95)	1.96	(1.22)	4.38
FSTCX	0.70	0.11	0.02	0.53	0.83	(0.74)	1.34	(1.67)	4.60
FDFAX	0.50	(0.03)	0.00	(0.30)	0.00	0.00	0.93	(1.28)	2.53
FIDSX	0.81	0.23	0.14	(7.04)	0.46	(1.01)	1.90	(1.19)	9.82
FSRFX	0.82	0.10	0.00	1.59	0.83	(0.89)	1.83	(1.63)	6.41

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