Fidelity Low Correlations

Mutual Funds . USA . 
Fund . Fidelity Low Priced Stock
FLPKX Fund  USD 41.00  0.07  0.17%   
The current 90-days correlation between Fidelity Low Priced and Aqr Equity Market is 0.16 (i.e., Average diversification). The correlation of Fidelity Low 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 Low Correlation With Market

Very poor diversification

The correlation between Fidelity Low Priced Stock and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Low Priced Stock 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 Low Priced Stock. 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 industry.

Moving together with Fidelity Mutual Fund

  0.8FPURX Fidelity PuritanPairCorr
  0.87FPUKX Fidelity PuritanPairCorr
  0.81FQIPX Fidelity Freedom IndexPairCorr
  0.82FQLSX Fidelity Flex FreedomPairCorr
  0.83FRBDX Fidelity Freedom 2070PairCorr
  0.83FRBEX Fidelity Freedom 2070PairCorr
  0.83FRBHX Fidelity Freedom 2070PairCorr
  0.67FRBKX Fidelity Advisor FreedomPairCorr
  0.68FRBLX Fidelity Advisor FreedomPairCorr
  0.66FRBOX Fidelity Advisor FreedomPairCorr
  0.8FRBPX Fidelity Advisor FreedomPairCorr
  0.66FRBUX Fidelity Freedom IndexPairCorr
  0.81FRBWX Fidelity Freedom IndexPairCorr
  0.69FRBYX Fidelity Freedom BlendPairCorr
  0.9FRAGX Aggressive GrowthPairCorr
  0.69FRCFX Fidelity Freedom BlendPairCorr
  0.71FRCKX Fidelity Freedom BlendPairCorr
  0.69FRCLX Fidelity Freedom BlendPairCorr
  0.88FRCWX Fidelity SustainablePairCorr
  0.75FRDCX Fidelity SustainablePairCorr
  0.86FRGAX Growth Allocation IndexPairCorr
  0.81FRLPX Fidelity Freedom IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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