Fidelity Series Correlations

FSGEX Fund

USD 15.42 0.02 0.13%

The current 90-days correlation between Fidelity Series Global and Victory Rs Science is 0.66 (i.e., Poor diversification). The correlation of Fidelity Series 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 Series Correlation With Market

Very weak diversification

The correlation between Fidelity Series Global and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Global 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 Series Global. 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 income.

Moving together with Fidelity Mutual Fund

0.88	FPTKX	Fidelity Freedom 2015	Pair Corr
0.93	FRINX	Fidelity Real Estate	Pair Corr
0.92	FRIOX	Fidelity Real Estate	Pair Corr
0.92	FRIQX	Fidelity Real Estate	Pair Corr
0.93	FRIRX	Fidelity Real Estate	Pair Corr
0.95	FRQIX	Fidelity Income Repl	Pair Corr
0.95	FRQAX	Fidelity Income Repl	Pair Corr
0.98	FADIX	Fidelity Advisor Div	Pair Corr
0.94	FADCX	Fidelity Advisor Div	Pair Corr
0.61	FTF	Franklin Templeton	Pair Corr
0.93	FSAWX	Fidelity Sai Convertible	Pair Corr

Moving against Fidelity Mutual Fund

0.67	FACPX	Fidelity Advisor Sumer	Pair Corr
0.65	FADTX	Fidelity Advisor Tec	Pair Corr
0.57	FAEGX	Fidelity Advisor Equity	Pair Corr
0.44	FAGAX	Fidelity Advisor Growth	Pair Corr
0.39	FACDX	Fidelity Advisor Health	Pair Corr
0.38	FPURX	Fidelity Puritan	Pair Corr
0.69	FSCPX	Consumer Discretionary	Pair Corr
0.62	FASPX	Fidelity Advisor Value	Pair Corr
0.57	FSCEX	Fidelity Advisor Small	Pair Corr
0.56	FAPMX	Fidelity Summer Street	Pair Corr
0.54	FSHOX	Construction And Housing	Pair Corr
0.53	FSEBX	Fidelity Advisor Sus	Pair Corr
0.48	FSCSX	Software And It	Pair Corr
0.31	FALAX	Fidelity Advisor Large	Pair Corr

Related Correlations Analysis

	RINCX	JNGTX	HTECX	FRBRX	DTEYX
RINCX		0.92	0.96	0.19	0.97	RINCX
JNGTX	0.92		0.89	0.16	0.89	JNGTX
HTECX	0.96	0.89		0.16	0.98	HTECX
FRBRX	0.19	0.16	0.16		0.17	FRBRX
DTEYX	0.97	0.89	0.98	0.17		DTEYX
	RINCX	JNGTX	HTECX	FRBRX	DTEYX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Series 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 Series' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
RINCX	1.50	(0.14)	(0.14)	2.79	(4.07)	8.21
JNGTX	1.18	(0.15)	0.50	2.00	(3.18)	6.41
HTECX	1.14	(0.08)	(0.11)	1.67	(3.14)	5.92
FRBRX	1.12	(0.11)	(0.21)	2.24	(2.46)	8.53
DTEYX	1.39	(0.07)	(0.10)	2.50	(3.77)	7.35

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