Fidelity Value Correlations

Etfs USA . 
Etf . Fidelity Value Factor
FVAL Etf  USD 61.57  1.50  2.38%   
The current 90-days correlation between Fidelity Value Factor and Fidelity Quality Factor is 0.94 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Value moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Value Factor moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity Value Correlation With Market

Almost no diversification

The correlation between Fidelity Value Factor and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Value Factor 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 Value Factor. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Fidelity Etf

  0.83VTV Vanguard Value IndexPairCorr
  0.92VYM Vanguard High DividendPairCorr
  0.88IWD iShares Russell 1000PairCorr
  0.86DGRO iShares Core DividendPairCorr
  0.82IVE iShares SP 500PairCorr
  0.84DVY iShares Select Dividend Sell-off TrendPairCorr
  0.83SPYV SPDR Portfolio SPPairCorr
  0.65FVD First Trust Value Sell-off TrendPairCorr
  0.85IUSV iShares Core SPPairCorr
  0.97SIXD AIM ETF ProductsPairCorr
  0.72CEFD ETRACS Monthly PayPairCorr
  0.86TSJA TSJAPairCorr
  0.87DSJA DSJAPairCorr
  0.94JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.87CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.63CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.73TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.81AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.81WMT Walmart Sell-off TrendPairCorr
  0.83T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr

Moving against Fidelity Etf

  0.89ULE ProShares Ultra EuroPairCorr
  0.87VIIX VIIXPairCorr
  0.72YCL ProShares Ultra YenPairCorr
  0.69FXY Invesco CurrencySharesPairCorr
  0.67PFFL ETRACS 2xMonthly PayPairCorr
  0.82PFE Pfizer Inc Aggressive PushPairCorr
  0.82KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.79MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.75JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.35GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr

Related Correlations Analysis

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Fidelity Value Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Value ETF 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 Value'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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