Fidelity Infrastructure Correlations

Mutual Funds . USA . 
Fund . Fidelity Infrastructure
FNSTX Fund  USD 13.90  0.01  0.07%   
The current 90-days correlation between Fidelity Infrastructure and Fidelity Water Sustainability is 0.56 (i.e., Very weak diversification). The correlation of Fidelity Infrastructure 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 Infrastructure Correlation With Market

Significant diversification

The correlation between Fidelity Infrastructure and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Infrastructure 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 Infrastructure. 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 estimate.

Moving together with Fidelity Mutual Fund

  0.72FPUKX Fidelity PuritanPairCorr
  0.61FRIFX Fidelity Real EstatePairCorr
  0.63FRLPX Fidelity Freedom IndexPairCorr
  0.74FACVX Fidelity ConvertiblePairCorr
  0.66FACNX Fidelity CanadaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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