Fidelity Natural Correlations

FNARX Fund  USD 45.25  0.71  1.54%   
The current 90-days correlation between Fidelity Natural Res and Fidelity Select Portfolios is 0.86 (i.e., Very poor diversification). The correlation of Fidelity Natural 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 Natural Correlation With Market

Modest diversification

The correlation between Fidelity Natural Resources and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Natural Resources 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 Natural Resources. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Fidelity Mutual Fund

  0.77VGENX Vanguard EnergyPairCorr
  0.8FSENX Fidelity Select PortPairCorr
  0.8FANAX Fidelity Advisor EnergyPairCorr
  0.8FANIX Fidelity Advisor EnergyPairCorr
  0.71CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.88XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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