Consumer Finance Correlations

Mutual Funds . USA . 
Fund . Consumer Finance Portfolio
FSVLX Fund  USD 18.91  0.05  0.27%   
The current 90-days correlation between Consumer Finance Por and Banking Portfolio Banking is 0.82 (i.e., Very poor diversification). The correlation of Consumer Finance 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.

Consumer Finance Correlation With Market

Good diversification

The correlation between Consumer Finance Portfolio and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Finance Portfolio 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 Consumer Finance Portfolio. 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 bureau of economic analysis.

Moving together with Consumer Mutual Fund

  0.97FPURX Fidelity PuritanPairCorr
  0.91FPUKX Fidelity PuritanPairCorr
  0.7FQIPX Fidelity Freedom IndexPairCorr
  0.68FQLSX Fidelity Flex FreedomPairCorr
  0.67FRBDX Fidelity Freedom 2070PairCorr
  0.67FRBEX Fidelity Freedom 2070PairCorr
  0.67FRBHX Fidelity Freedom 2070PairCorr
  0.62FRBJX Fidelity Advisor FreedomPairCorr
  0.69FRBKX Fidelity Advisor FreedomPairCorr
  0.71FRBLX Fidelity Advisor FreedomPairCorr
  0.68FRBOX Fidelity Advisor FreedomPairCorr
  0.62FRBPX Fidelity Advisor FreedomPairCorr
  0.64FRBQX Fidelity Flex FreedomPairCorr
  0.74FRBUX Fidelity Freedom IndexPairCorr
  0.64FRBVX Fidelity Freedom IndexPairCorr
  0.74FRBYX Fidelity Freedom BlendPairCorr
  0.66FRBZX Fidelity Freedom BlendPairCorr
  0.83FRAGX Aggressive GrowthPairCorr
  0.74FRCFX Fidelity Freedom BlendPairCorr
  0.75FRCHX Fidelity Freedom BlendPairCorr
  0.75FRCLX Fidelity Freedom BlendPairCorr
  0.66FRCNX Fidelity Freedom BlendPairCorr
  0.74FRCPX Fidelity Freedom BlendPairCorr
  0.71FRCQX Fidelity SustainablePairCorr
  0.71FRCRX Fidelity SustainablePairCorr
  0.79FRCVX Fidelity SustainablePairCorr
  0.74FRCWX Fidelity SustainablePairCorr
  0.8FRCYX Fidelity SustainablePairCorr
  0.82FRDCX Fidelity SustainablePairCorr
  0.71FRDEX Fidelity SustainablePairCorr
  0.78FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FIDSX
+ 0.95
FSRBX
FSAVX
+ 0.91
FSRBX
FSHOX
+ 0.91
FSRBX
FSAVX
+ 0.88
FIDSX
FSHOX
+ 0.88
FSAVX
FSHOX
+ 0.8
FIDSX
  
High negative correlations   
FSHOX
- 0.49
FSPCX
FSAVX
- 0.37
FSPCX
FSPCX
- 0.3
FSRBX
FIDSX
- 0.06
FSPCX

Risk-Adjusted Indicators

There is a big difference between Consumer Mutual Fund performing well and Consumer Finance 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 Consumer Finance'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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