Fidelity Mid Correlations
| FMEIXDelisted Fund | USD 17.14 0.00 0.00% |
The current 90-days correlation between Fidelity Mid Cap and Fidelity Small Cap is 0.9 (i.e., Almost no diversification). The correlation of Fidelity Mid 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 Correlation With Market
Significant diversification
The correlation between Fidelity Mid Cap and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Mid Cap and DJI in the same portfolio, assuming nothing else is changed.
Fidelity |
Moving together with Fidelity Mutual Fund
| 0.77 | VIMAX | Vanguard Mid Cap | PairCorr |
| 0.77 | VIMSX | Vanguard Mid Cap | PairCorr |
| 0.77 | VMCPX | Vanguard Mid Cap | PairCorr |
| 0.77 | VMCIX | Vanguard Mid Cap | PairCorr |
| 0.87 | VEXAX | Vanguard Extended Market | PairCorr |
| 0.87 | VEMPX | Vanguard Extended Market | PairCorr |
| 0.87 | VIEIX | Vanguard Extended Market | PairCorr |
| 0.87 | VSEMX | Vanguard Extended Market | PairCorr |
| 0.87 | VEXMX | Vanguard Extended Market | PairCorr |
| 0.87 | FSMAX | Fidelity Extended Market | PairCorr |
| 0.83 | OSPPX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.81 | SPMPX | Invesco Steelpath Mlp | PairCorr |
| 0.81 | SPMJX | Invesco Steelpath Mlp | PairCorr |
| 0.81 | MLPNX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.81 | MLPLX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.81 | MLPMX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.69 | LSHUX | Horizon Spin Off | PairCorr |
| 0.75 | EMO | Clearbridge Energy Mlp | PairCorr |
| 0.8 | ELFNX | Elfun Trusts Elfun | PairCorr |
| 0.84 | DIS | Walt Disney | PairCorr |
| 0.61 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.91 | WMT | Walmart Aggressive Push | PairCorr |
| 0.86 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.87 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.79 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
Moving against Fidelity Mutual Fund
| 0.76 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.69 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.62 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.51 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.31 | VZ | Verizon Communications Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| 0.92 | 0.97 | 0.94 | 0.64 | FCPEX | ||
| 0.92 | 0.91 | 0.82 | 0.75 | FLVEX | ||
| 0.97 | 0.91 | 0.98 | 0.59 | FLCEX | ||
| 0.94 | 0.82 | 0.98 | 0.5 | FLGEX | ||
| 0.64 | 0.75 | 0.59 | 0.5 | FIENX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Fidelity Mutual Fund performing well and Fidelity Mid 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'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FCPEX | 0.95 | 0.14 | 0.08 | (5.97) | 0.92 | 2.03 | 5.24 | |||
| FLVEX | 0.58 | 0.07 | 0.03 | 2.20 | 0.59 | 1.30 | 3.20 | |||
| FLCEX | 0.60 | 0.14 | 0.14 | 3.06 | 0.36 | 1.38 | 3.16 | |||
| FLGEX | 0.70 | 0.18 | 0.15 | 2.52 | 0.54 | 1.76 | 4.05 | |||
| FIENX | 0.60 | 0.02 | (0.04) | 0.23 | 0.75 | 1.16 | 3.31 |
Fidelity Mid Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Fidelity Mid mutual fund to make a market-neutral strategy. Peer analysis of Fidelity Mid could also be used in its relative valuation, which is a method of valuing Fidelity Mid by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Fidelity Mid Cap?
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