Fidelity Series Correlations
FSTZX Fund | USD 9.89 0.02 0.20% |
The current 90-days correlation between Fidelity Series 0 and Tweedy Browne Global is -0.13 (i.e., Good 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
Significant diversification
The correlation between Fidelity Series 0 5 and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series 0 5 and DJI in the same portfolio, assuming nothing else is changed.
Fidelity |
Moving together with Fidelity Mutual Fund
0.71 | FPTKX | Fidelity Freedom 2015 | PairCorr |
0.84 | FQITX | Fidelity Salem Street | PairCorr |
0.88 | FRAMX | Fidelity Income Repl | PairCorr |
0.82 | FRASX | Fidelity Income Repl | PairCorr |
0.93 | FRIFX | Fidelity Real Estate | PairCorr |
Moving against Fidelity Mutual Fund
Related Correlations Analysis
0.93 | 0.86 | 0.38 | 0.89 | 0.65 | 0.77 | TBCUX | ||
0.93 | 0.89 | 0.4 | 0.92 | 0.83 | 0.78 | DBLGX | ||
0.86 | 0.89 | 0.53 | 0.97 | 0.87 | 0.91 | MFIRX | ||
0.38 | 0.4 | 0.53 | 0.61 | 0.51 | 0.74 | MGKAX | ||
0.89 | 0.92 | 0.97 | 0.61 | 0.87 | 0.94 | LFLCX | ||
0.65 | 0.83 | 0.87 | 0.51 | 0.87 | 0.8 | DHGCX | ||
0.77 | 0.78 | 0.91 | 0.74 | 0.94 | 0.8 | DBIWX | ||
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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 | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
TBCUX | 0.60 | 0.13 | 0.22 | 0.29 | 0.56 | 1.49 | 4.33 | |||
DBLGX | 0.22 | 0.01 | 0.26 | 0.19 | 0.19 | 0.48 | 1.21 | |||
MFIRX | 0.11 | 0.02 | 0.29 | 0.92 | 0.00 | 0.19 | 0.77 | |||
MGKAX | 1.04 | (0.14) | 0.00 | (0.24) | 0.00 | 1.57 | 14.60 | |||
LFLCX | 0.18 | 0.01 | 0.31 | 0.08 | 0.15 | 0.43 | 0.98 | |||
DHGCX | 0.17 | 0.00 | 0.24 | (0.17) | 0.21 | 0.36 | 1.46 | |||
DBIWX | 0.26 | 0.03 | 0.19 | 0.07 | 0.32 | 0.48 | 1.77 |