Fidelity Puritan Correlations

Mutual Funds . USA . 
Fund . Fidelity Puritan Fund
FPURX Fund  USD 24.40  0.28  1.16%   
The current 90-days correlation between Fidelity Puritan and Fidelity Balanced Fund is 0.99 (i.e., No risk reduction). The correlation of Fidelity Puritan 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 Puritan Correlation With Market

Poor diversification

The correlation between Fidelity Puritan Fund and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Puritan Fund 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 Puritan Fund. 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

  1.0FPUKX Fidelity PuritanPairCorr
  0.62FQIPX Fidelity Freedom IndexPairCorr
  0.68FQLSX Fidelity Flex FreedomPairCorr
  0.81FRAGX Aggressive GrowthPairCorr
  0.63FRCWX Fidelity SustainablePairCorr
  0.65FRDCX Fidelity SustainablePairCorr
  0.73FRGAX Growth Allocation IndexPairCorr
  0.62FRLPX Fidelity Freedom IndexPairCorr
  0.77FAASX Fidelity Asset ManagerPairCorr
  0.77FAAIX Fidelity Asset ManagerPairCorr
  0.9FACVX Fidelity ConvertiblePairCorr

Moving against Fidelity Mutual Fund

  0.42FRIFX Fidelity Real EstatePairCorr
  0.42FRIQX Fidelity Real EstatePairCorr
  0.41FRINX Fidelity Real EstatePairCorr
  0.4FRIOX Fidelity Real EstatePairCorr
  0.42FRIRX Fidelity Real EstatePairCorr

Related Correlations Analysis

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 Puritan 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 Puritan'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY