Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex Small
FLXSX Fund  USD 17.60  0.00  0.00%   
The current 90-days correlation between Fidelity Flex Small and Fidelity Flex Mid is 0.15 (i.e., Average 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

Significant diversification

The correlation between Fidelity Flex Small and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Flex Small 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 Small. 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

  0.93FPURX Fidelity PuritanPairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.71FQIPX Fidelity Freedom IndexPairCorr
  0.71FQLSX Fidelity Flex FreedomPairCorr
  0.86FRAGX Aggressive GrowthPairCorr
  0.82FRGAX Growth Allocation IndexPairCorr
  0.75FRLPX Fidelity Freedom IndexPairCorr
  0.69FRPCX Fidelity Sai AlternativePairCorr
  0.73FAASX Fidelity Asset ManagerPairCorr
  0.77FAAIX Fidelity Asset ManagerPairCorr
  0.63FABLX Fidelity Advisor BalancedPairCorr
  0.62FABCX Fidelity Advisor BalancedPairCorr
  0.92FACVX Fidelity VertiblePairCorr
  0.92FACPX Fidelity Advisor SumerPairCorr
  0.82FACNX Fidelity CanadaPairCorr
  0.85FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.65FQITX Fidelity Salem StreetPairCorr
  0.55FAERX Fidelity Advisor OverseasPairCorr
  0.43FADCX Fidelity Advisor DivPairCorr
  0.42FADIX Fidelity Advisor DivPairCorr
  0.31FAFAX Fidelity Advisor FreedomPairCorr

Related Correlations Analysis

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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
+ 0.97
FLAPX
FIBUX
+ 0.7
FUENX
FIBUX
+ 0.52
FITFX
FUENX
+ 0.36
FITFX
  
High negative correlations   
FIBUX
- 0.7
FDFIX
FIBUX
- 0.68
FLAPX
FITFX
- 0.37
FLAPX
FDFIX
- 0.24
FITFX
FUENX
- 0.2
FDFIX
FUENX
- 0.13
FLAPX

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.

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