Fidelity Mid-cap Correlations

FMCSX Fund

USD 41.31 1.02 2.53%

The current 90-days correlation between Fidelity Mid Cap and Fidelity Dividend Growth is 0.84 (i.e., Very poor diversification). The correlation of Fidelity Mid-cap 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 Mid-cap Correlation With Market

Poor diversification

The correlation between Fidelity Mid Cap Stock and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Mid Cap 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 Mid Cap 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 state.

Moving together with Fidelity Mutual Fund

0.97	FPURX	Fidelity Puritan	Pair Corr
0.97	FPUKX	Fidelity Puritan	Pair Corr
0.7	FRAGX	Aggressive Growth	Pair Corr
0.61	FRGAX	Growth Allocation Index	Pair Corr

Moving against Fidelity Mutual Fund

0.33	FRAMX	Fidelity Income Repl	Pair Corr
0.51	FRIFX	Fidelity Real Estate	Pair Corr
0.51	FRINX	Fidelity Real Estate	Pair Corr
0.51	FRIQX	Fidelity Real Estate	Pair Corr
0.51	FRIRX	Fidelity Real Estate	Pair Corr
0.49	FRIOX	Fidelity Real Estate	Pair Corr
0.39	FRHMX	Fidelity Managed Ret	Pair Corr

Related Correlations Analysis

	FDGFX	FDIVX	FDVLX	FLPSX	FSLCX
FDGFX		-0.35	0.95	0.79	0.97	FDGFX
FDIVX	-0.35		-0.34	0.19	-0.33	FDIVX
FDVLX	0.95	-0.34		0.85	0.98	FDVLX
FLPSX	0.79	0.19	0.85		0.84	FLPSX
FSLCX	0.97	-0.33	0.98	0.84		FSLCX
	FDGFX	FDIVX	FDVLX	FLPSX	FSLCX

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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

FSLCX	+ 0.98	FDVLX
FSLCX	+ 0.97	FDGFX
FDVLX	+ 0.95	FDGFX
FLPSX	+ 0.85	FDVLX
FSLCX	+ 0.84	FLPSX
FLPSX	+ 0.79	FDGFX

High negative correlations

FDIVX	- 0.35	FDGFX
FDVLX	- 0.34	FDIVX
FSLCX	- 0.33	FDIVX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Mid-cap 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 Mid-cap'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
FDGFX	1.05	(0.07)	0.00	(0.12)	0.00	0.00	1.57	(2.49)	6.80
FDIVX	0.74	0.09	0.10	0.11	1.00	(0.72)	1.42	(1.38)	6.15
FDVLX	0.84	(0.06)	0.00	(0.11)	0.00	0.00	1.48	(2.03)	3.81
FLPSX	0.67	(0.01)	0.00	(0.05)	0.00	0.00	1.58	(1.36)	3.54
FSLCX	0.94	(0.08)	0.00	(0.12)	0.00	0.00	1.88	(2.26)	4.82

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