Fidelity Leveraged Correlations

FLVCX Fund

USD 36.61 1.11 3.13%

The current 90-days correlation between Fidelity Leveraged Pany and Fidelity Canada Fund is 0.72 (i.e., Poor diversification). The correlation of Fidelity Leveraged 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 Leveraged Correlation With Market

Good diversification

The correlation between Fidelity Leveraged Pany and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Leveraged Pany 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 Leveraged Pany. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

0.97	FPURX	Fidelity Puritan	Pair Corr
0.92	FPUKX	Fidelity Puritan	Pair Corr
0.71	FRAGX	Aggressive Growth	Pair Corr
0.63	FRDEX	Fidelity Sustainable	Pair Corr
0.62	FRGAX	Growth Allocation Index	Pair Corr

Moving against Fidelity Mutual Fund

0.59	FRIFX	Fidelity Real Estate	Pair Corr
0.59	FRIRX	Fidelity Real Estate	Pair Corr
0.57	FRIOX	Fidelity Real Estate	Pair Corr
0.53	FRIQX	Fidelity Real Estate	Pair Corr
0.52	FRINX	Fidelity Real Estate	Pair Corr
0.39	FRKMX	Fidelity Managed Ret	Pair Corr

Related Correlations Analysis

	FICDX	FLATX	FIGRX	FDVLX	FEMKX
FICDX		0.0	0.62	0.4	0.82	FICDX
FLATX	0.0		0.0	0.0	0.0	FLATX
FIGRX	0.62	0.0		-0.35	0.51	FIGRX
FDVLX	0.4	0.0	-0.35		0.45	FDVLX
FEMKX	0.82	0.0	0.51	0.45		FEMKX
	FICDX	FLATX	FIGRX	FDVLX	FEMKX

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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

FEMKX	+ 0.82	FICDX
FIGRX	+ 0.62	FICDX
FEMKX	+ 0.51	FIGRX
FEMKX	+ 0.45	FDVLX
FDVLX	+ 0.4	FICDX
FLATX	+ 0.0	FICDX

High negative correlations

FDVLX	- 0.35	FIGRX
FEMKX	- 0.0	FLATX
FDVLX	- 0.0	FLATX
FIGRX	- 0.0	FLATX
FLATX	- 0.0	FICDX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Leveraged 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 Leveraged'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
FICDX	0.73	0.05	0.04	(0.46)	0.92	(0.68)	1.87	(1.65)	3.91
FLATX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIGRX	0.75	0.11	0.09	(0.60)	1.05	(0.75)	1.93	(1.54)	6.24
FDVLX	0.82	(0.07)	0.00	(1.69)	0.00	0.00	1.50	(2.03)	3.81
FEMKX	0.93	0.01	0.01	(0.40)	1.30	(0.90)	1.86	(2.28)	5.77

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