Fidelity Trend Correlations

FTRNX Fund

USD 157.72 0.68 0.43%

The current 90-days correlation between Fidelity Trend and Fidelity Stock Selector is 0.86 (i.e., Very poor diversification). The correlation of Fidelity Trend 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 Trend Correlation With Market

Good diversification

The correlation between Fidelity Trend Fund and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Trend Fund 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 Trend Fund. 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 board of governors.

Moving together with Fidelity Mutual Fund

0.92	FPURX	Fidelity Puritan	Pair Corr
0.92	FPUKX	Fidelity Puritan	Pair Corr
0.92	FACVX	Fidelity Convertible	Pair Corr
0.98	FACPX	Fidelity Advisor Sumer	Pair Corr
0.94	FACGX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.74	FRIFX	Fidelity Real Estate	Pair Corr
0.74	FRINX	Fidelity Real Estate	Pair Corr
0.74	FRIQX	Fidelity Real Estate	Pair Corr
0.74	FRIRX	Fidelity Real Estate	Pair Corr
0.73	FRIOX	Fidelity Real Estate	Pair Corr
0.59	FRIMX	Fidelity Income Repl	Pair Corr
0.59	FRKMX	Fidelity Managed Ret	Pair Corr
0.59	FRQHX	Fidelity Managed Ret	Pair Corr
0.58	FRQIX	Fidelity Income Repl	Pair Corr
0.52	FQITX	Fidelity Salem Street	Pair Corr
0.47	FRASX	Fidelity Income Repl	Pair Corr
0.41	FRESX	Fidelity Real Estate	Pair Corr
0.37	FROGX	Fidelity Municipal Income	Pair Corr
0.36	FPXTX	Fidelity Pennsylvania	Pair Corr
0.34	FPTKX	Fidelity Freedom 2015	Pair Corr
0.6	FAFAX	Fidelity Advisor Freedom	Pair Corr
0.57	FRQAX	Fidelity Income Repl	Pair Corr
0.57	FADIX	Fidelity Advisor Div	Pair Corr
0.57	FADCX	Fidelity Advisor Div	Pair Corr
0.57	FAERX	Fidelity Advisor Overseas	Pair Corr
0.51	FACFX	Fidelity Advisor Freedom	Pair Corr

Related Correlations Analysis

	FDSSX	FTQGX	FDEQX	FDSCX	FLCSX
FDSSX		0.93	0.94	0.9	0.83	FDSSX
FTQGX	0.93		1.0	0.97	0.93	FTQGX
FDEQX	0.94	1.0		0.98	0.93	FDEQX
FDSCX	0.9	0.97	0.98		0.88	FDSCX
FLCSX	0.83	0.93	0.93	0.88		FLCSX
	FDSSX	FTQGX	FDEQX	FDSCX	FLCSX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FDSSX	0.92	(0.17)	17.53	1.35	(2.11)	5.73
FTQGX	1.28	(0.17)	2.67	2.02	(3.21)	8.16
FDEQX	1.03	(0.14)	2.29	1.78	(2.60)	5.94
FDSCX	0.89	(0.14)	2.38	1.49	(2.04)	4.62
FLCSX	0.79	(0.03)	0.53	1.51	(1.90)	4.91

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