Fidelity Large Correlations

Mutual Funds . USA . 
Fund . Fidelity Large Cap
FSPGX Fund  USD 36.16  0.19  0.53%   
The current 90-days correlation between Fidelity Large Cap and Fidelity Large Cap is 0.62 (i.e., Poor diversification). The correlation of Fidelity Large 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 Large Correlation With Market

Poor diversification

The correlation between Fidelity Large Cap and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Large Cap 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 Large Cap. 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 price.

Moving together with Fidelity Mutual Fund

  0.96FPURX Fidelity PuritanPairCorr
  0.96FPUKX Fidelity PuritanPairCorr
  0.72FRAGX Aggressive GrowthPairCorr
  0.62FRGAX Growth Allocation IndexPairCorr
  0.73FAASX Fidelity Asset ManagerPairCorr
  0.72FAAIX Fidelity Asset ManagerPairCorr
  0.89FACVX Fidelity ConvertiblePairCorr
  0.96FACPX Fidelity Advisor SumerPairCorr
  0.99FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.56FRIFX Fidelity Real EstatePairCorr
  0.56FRIQX Fidelity Real EstatePairCorr
  0.56FRIRX Fidelity Real EstatePairCorr
  0.55FRINX Fidelity Real EstatePairCorr
  0.54FRIOX Fidelity Real EstatePairCorr
  0.39FRKMX Fidelity Managed RetPairCorr
  0.38FRIMX Fidelity Income ReplPairCorr
  0.38FRQHX Fidelity Managed RetPairCorr
  0.37FRQIX Fidelity Income ReplPairCorr
  0.32FQITX Fidelity Salem StreetPairCorr
  0.41FADIX Fidelity Advisor DivPairCorr
  0.4FADCX Fidelity Advisor DivPairCorr
  0.4FAERX Fidelity Advisor OverseasPairCorr
  0.4FAFAX Fidelity Advisor FreedomPairCorr
  0.36FRQAX Fidelity Income ReplPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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