Fidelity Stock Correlations

Mutual Funds . USA . 
Fund . Fidelity Stock Selector
FSLVX Fund  USD 27.42  0.35  1.29%   
The current 90-days correlation between Fidelity Stock Selector and Fidelity Mid Cap is 0.95 (i.e., Almost no diversification). The correlation of Fidelity Stock 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 Stock Correlation With Market

Very weak diversification

The correlation between Fidelity Stock Selector and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Stock Selector 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 Stock Selector. 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 real.

Moving together with Fidelity Mutual Fund

  0.85FPURX Fidelity PuritanPairCorr
  0.85FPUKX Fidelity PuritanPairCorr
  0.61FQIFX Fidelity Freedom IndexPairCorr
  0.72FQIPX Fidelity Freedom IndexPairCorr
  0.77FQLSX Fidelity Flex FreedomPairCorr
  0.7FRBDX Fidelity Freedom 2070PairCorr
  0.7FRBEX Fidelity Freedom 2070PairCorr
  0.7FRBHX Fidelity Freedom 2070PairCorr
  0.69FRBJX Fidelity Advisor FreedomPairCorr
  0.69FRBKX Fidelity Advisor FreedomPairCorr
  0.7FRBLX Fidelity Advisor FreedomPairCorr
  0.68FRBOX Fidelity Advisor FreedomPairCorr
  0.68FRBPX Fidelity Advisor FreedomPairCorr
  0.74FRBQX Fidelity Flex FreedomPairCorr
  0.7FRBUX Fidelity Freedom IndexPairCorr
  0.7FRBVX Fidelity Freedom IndexPairCorr
  0.7FRBWX Fidelity Freedom IndexPairCorr
  0.73FRBYX Fidelity Freedom BlendPairCorr
  0.73FRBZX Fidelity Freedom BlendPairCorr
  0.81FRAGX Aggressive GrowthPairCorr
  0.73FRCFX Fidelity Freedom BlendPairCorr
  0.75FRCKX Fidelity Freedom BlendPairCorr
  0.73FRCLX Fidelity Freedom BlendPairCorr
  0.73FRCNX Fidelity Freedom BlendPairCorr
  0.72FRCPX Fidelity Freedom BlendPairCorr
  0.75FRCQX Fidelity SustainablePairCorr
  0.75FRCRX Fidelity SustainablePairCorr
  0.75FRCVX Fidelity SustainablePairCorr
  0.76FRCWX Fidelity SustainablePairCorr
  0.76FRCYX Fidelity SustainablePairCorr
  0.77FRDCX Fidelity SustainablePairCorr
  0.76FRDEX Fidelity SustainablePairCorr
  0.78FRGAX Growth Allocation IndexPairCorr

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 Stock 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 Stock'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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