Fidelity Flex Correlations

FLAPX Fund

USD 18.24 0.05 0.27%

The current 90-days correlation between Fidelity Flex Mid and Fidelity Flex Small is 0.95 (i.e., Almost no diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Poor diversification

The correlation between Fidelity Flex Mid and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Flex Mid 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 Flex Mid. 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 american community survey.

Moving together with Fidelity Mutual Fund

0.97	FPURX	Fidelity Puritan	Pair Corr
0.83	FACVX	Fidelity Convertible	Pair Corr
0.83	FACPX	Fidelity Advisor Sumer	Pair Corr
0.93	FAFSX	Fidelity Advisor Fin	Pair Corr
0.61	FAGNX	Fidelity Advisor Energy Steady Growth	Pair Corr
0.87	FAGIX	Fidelity Capital Income	Pair Corr
0.76	FSAAX	Fidelity Asset Manager	Pair Corr
0.95	FSAVX	Automotive Portfolio	Pair Corr
0.78	FSCPX	Consumer Discretionary	Pair Corr
0.79	FSCSX	Software And It	Pair Corr
0.61	FSCTX	Fidelity Advisor Small	Pair Corr
0.73	FASGX	Fidelity Asset Manager	Pair Corr
0.63	FATEX	Fidelity Advisor Tec	Pair Corr
0.89	FSHOX	Construction And Housing	Pair Corr
0.83	FSLEX	Environment And Alte	Pair Corr
0.97	FSLZX	Fidelity Advisor Stock	Pair Corr
0.78	FSPTX	Technology Portfolio	Pair Corr
0.87	FSRPX	Retailing Portfolio	Pair Corr
0.85	FBALX	Fidelity Balanced	Pair Corr
0.89	FBGRX	Fidelity Blue Chip	Pair Corr
0.79	FSZHX	Fidelity Aberdeen Street	Pair Corr

Moving against Fidelity Mutual Fund

0.42	FAPEX	Fidelity Advisor Sus	Pair Corr
0.31	FSPSX	Fidelity International	Pair Corr
0.45	FTKFX	Fidelity Total Bond	Pair Corr
0.42	FBAPX	Fidelity Advisor Tactical	Pair Corr
0.37	FUEMX	Fidelity Flex Servative	Pair Corr
0.33	FSTFX	Fidelity Limited Term	Pair Corr
0.33	FCHKX	Fidelity China Region	Pair Corr

Related Correlations Analysis

	FLXSX	FITFX	FDFIX	FUENX	FIBUX
FLXSX		-0.53	0.92	-0.34	-0.7	FLXSX
FITFX	-0.53		-0.26	0.64	0.86	FITFX
FDFIX	0.92	-0.26		-0.13	-0.5	FDFIX
FUENX	-0.34	0.64	-0.13		0.75	FUENX
FIBUX	-0.7	0.86	-0.5	0.75		FIBUX
	FLXSX	FITFX	FDFIX	FUENX	FIBUX

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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

FDFIX	+ 0.92	FLXSX
FIBUX	+ 0.86	FITFX
FIBUX	+ 0.75	FUENX
FUENX	+ 0.64	FITFX

High negative correlations

FIBUX	- 0.7	FLXSX
FITFX	- 0.53	FLXSX
FIBUX	- 0.5	FDFIX
FUENX	- 0.34	FLXSX
FDFIX	- 0.26	FITFX
FUENX	- 0.13	FDFIX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Flex 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 Flex'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
FLXSX	0.97	(0.13)	0.00	(0.20)	0.00	0.00	1.63	(2.68)	5.02
FITFX	0.62	0.11	0.15	0.14	0.76	(0.67)	1.28	(1.43)	4.81
FDFIX	0.80	(0.04)	0.00	(0.12)	0.00	0.00	1.28	(1.77)	4.52
FUENX	0.15	(0.02)	0.00	1.14	0.00	0.00	0.31	(0.41)	1.02
FIBUX	0.23	0.02	0.29	0.64	0.19	(0.27)	0.56	(0.44)	1.21

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