Fidelity Series Correlations

FTLTX Fund

USD 5.65 0.01 0.18%

The current 90-days correlation between Fidelity Series Long and Nasdaq 100 2x Strategy is -0.26 (i.e., Very 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

Very good diversification

The correlation between Fidelity Series Long Term and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Long Term 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 Long Term. 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 estimate.

Moving together with Fidelity Mutual Fund

0.68	FQITX	Fidelity Salem Street	Pair Corr
0.69	FRAMX	Fidelity Income Repl	Pair Corr
0.67	FRIMX	Fidelity Income Repl	Pair Corr
0.65	FRIOX	Fidelity Real Estate	Pair Corr
0.66	FRHMX	Fidelity Managed Ret	Pair Corr
0.67	FRKMX	Fidelity Managed Ret	Pair Corr
0.64	FRQHX	Fidelity Managed Ret	Pair Corr
0.66	FRQIX	Fidelity Income Repl	Pair Corr
0.65	FRQKX	Fidelity Managed Ret	Pair Corr
0.67	FRQAX	Fidelity Income Repl	Pair Corr

Moving against Fidelity Mutual Fund

0.75	FPURX	Fidelity Puritan	Pair Corr
0.73	FPUKX	Fidelity Puritan	Pair Corr
0.66	FRAGX	Aggressive Growth	Pair Corr
0.56	FQLSX	Fidelity Flex Freedom	Pair Corr
0.56	FRGAX	Growth Allocation Index	Pair Corr
0.54	FQIPX	Fidelity Freedom Index	Pair Corr
0.7	FABLX	Fidelity Advisor Balanced	Pair Corr
0.68	FABCX	Fidelity Advisor Balanced	Pair Corr
0.65	FRPCX	Fidelity Sai Alternative	Pair Corr
0.57	FRLPX	Fidelity Freedom Index	Pair Corr
0.52	FAAIX	Fidelity Asset Manager	Pair Corr
0.47	FAASX	Fidelity Asset Manager	Pair Corr
0.36	FRPDX	Fidelity Sai Alternative	Pair Corr
0.87	FADTX	Fidelity Advisor Tec	Pair Corr
0.84	FACGX	Fidelity Advisor Growth	Pair Corr
0.8	FAFSX	Fidelity Advisor Fin	Pair Corr
0.79	FADAX	Fidelity Advisor Dividend	Pair Corr
0.78	FAEGX	Fidelity Advisor Equity	Pair Corr
0.77	FACVX	Fidelity Vertible	Pair Corr

Related Correlations Analysis

	RYCCX	JHUJX	TEOJX	TMSRX	HCEMX	PACEX	MFTFX
RYCCX		0.29	0.25	0.87	0.31	0.32	-0.39	RYCCX
JHUJX	0.29		0.92	0.57	0.99	0.81	-0.24	JHUJX
TEOJX	0.25	0.92		0.58	0.94	0.88	-0.33	TEOJX
TMSRX	0.87	0.57	0.58		0.61	0.63	-0.53	TMSRX
HCEMX	0.31	0.99	0.94	0.61		0.84	-0.29	HCEMX
PACEX	0.32	0.81	0.88	0.63	0.84		-0.28	PACEX
MFTFX	-0.39	-0.24	-0.33	-0.53	-0.29	-0.28		MFTFX
	RYCCX	JHUJX	TEOJX	TMSRX	HCEMX	PACEX	MFTFX

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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

HCEMX	+ 0.99	JHUJX
HCEMX	+ 0.94	TEOJX
TEOJX	+ 0.92	JHUJX
PACEX	+ 0.88	TEOJX
TMSRX	+ 0.87	RYCCX
PACEX	+ 0.84	HCEMX

High negative correlations

MFTFX	- 0.53	TMSRX
MFTFX	- 0.39	RYCCX
MFTFX	- 0.33	TEOJX
MFTFX	- 0.29	HCEMX
MFTFX	- 0.28	PACEX
MFTFX	- 0.24	JHUJX

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
RYCCX	1.54	0.03	0.05	0.13	2.14	(1.48)	3.08	(4.84)	10.29
JHUJX	0.68	(0.08)	0.00	(0.04)	0.00	0.00	1.28	(1.64)	4.57
TEOJX	0.65	0.00	(0.13)	0.16	0.84	(0.71)	1.76	(1.83)	4.91
TMSRX	0.12	(0.01)	(0.63)	0.06	0.00	(0.18)	0.21	(0.21)	0.82
HCEMX	0.72	(0.04)	0.00	(0.05)	0.00	0.00	1.83	(1.86)	4.70
PACEX	0.13	0.01	(0.67)	0.62	0.00	(0.21)	0.32	(0.22)	0.97
MFTFX	0.96	(0.09)	(0.08)	(0.01)	1.36	(0.89)	1.70	(1.95)	5.42

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