Fidelity Large Correlations

Mutual Funds . USA . 
Fund . Fidelity Large Cap
FLCSX Fund  USD 54.43  0.02  0.04%   
The current 90-days correlation between Fidelity Large Cap and Fidelity Mega Cap is 0.99 (i.e., No risk reduction). The correlation of Fidelity Large 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 Large Correlation With Market

Poor diversification

The correlation between Fidelity Large Cap and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Large Cap 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 Large Cap. 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 state.

Moving together with Fidelity Mutual Fund

  0.89FPURX Fidelity PuritanPairCorr
  0.89FPUKX Fidelity PuritanPairCorr
  0.78FQLSX Fidelity Flex FreedomPairCorr
  0.81FRBDX Fidelity Freedom 2070PairCorr
  0.8FRBHX Fidelity Freedom 2070PairCorr
  0.79FRBLX Fidelity Advisor FreedomPairCorr
  0.79FRBUX Fidelity Freedom IndexPairCorr
  0.81FRBYX Fidelity Freedom BlendPairCorr
  0.9FRAGX Aggressive GrowthPairCorr
  0.81FRCFX Fidelity Freedom BlendPairCorr
  0.66FRCLX Fidelity Freedom BlendPairCorr
  0.85FRCWX Fidelity SustainablePairCorr
  0.85FRGAX Growth Allocation IndexPairCorr
  0.79FRLPX Fidelity Freedom IndexPairCorr
  0.66FAASX Fidelity Asset ManagerPairCorr
  0.66FAAIX Fidelity Asset ManagerPairCorr
  0.69FACVX Fidelity ConvertiblePairCorr
  0.73FACPX Fidelity Advisor SumerPairCorr
  0.72FACNX Fidelity CanadaPairCorr
  0.88FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Large 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 Large'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.

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