Fidelity Value Correlations

Mutual Funds . USA . 
Fund . Fidelity Value Discovery
FVDFX Fund  USD 36.85  0.09  0.24%   
The current 90-days correlation between Fidelity Value Discovery and Fidelity Blue Chip is 0.96 (i.e., Almost no diversification). The correlation of Fidelity Value 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 Value Correlation With Market

Very poor diversification

The correlation between Fidelity Value Discovery and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Value Discovery 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 Discovery. 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 census.

Moving together with Fidelity Mutual Fund

  0.71FPTKX Fidelity Freedom 2015PairCorr
  0.7FQIFX Fidelity Freedom IndexPairCorr
  0.88FQIPX Fidelity Freedom IndexPairCorr
  0.87FQLSX Fidelity Flex FreedomPairCorr
  0.79FRBDX Fidelity Freedom 2070PairCorr
  0.79FRBEX Fidelity Freedom 2070PairCorr
  0.79FRBHX Fidelity Freedom 2070PairCorr
  0.67FRBJX Fidelity Advisor FreedomPairCorr
  0.79FRBKX Fidelity Advisor FreedomPairCorr
  0.79FRBLX Fidelity Advisor FreedomPairCorr
  0.79FRBOX Fidelity Advisor FreedomPairCorr
  0.88FRBPX Fidelity Advisor FreedomPairCorr
  0.74FRBQX Fidelity Flex FreedomPairCorr
  0.77FRBUX Fidelity Freedom IndexPairCorr
  0.63FRBVX Fidelity Freedom IndexPairCorr
  0.63FRBWX Fidelity Freedom IndexPairCorr
  0.78FRBYX Fidelity Freedom BlendPairCorr
  0.66FRBZX Fidelity Freedom BlendPairCorr
  0.84FRAGX Aggressive GrowthPairCorr
  0.64FRASX Fidelity Income ReplPairCorr
  0.78FRCFX Fidelity Freedom BlendPairCorr
  0.66FRCKX Fidelity Freedom BlendPairCorr
  0.78FRCLX Fidelity Freedom BlendPairCorr
  0.66FRCNX Fidelity Freedom BlendPairCorr
  0.66FRCPX Fidelity Freedom BlendPairCorr
  0.65FRCQX Fidelity SustainablePairCorr
  0.66FRCRX Fidelity SustainablePairCorr
  0.66FRCVX Fidelity SustainablePairCorr
  0.78FRCWX Fidelity SustainablePairCorr
  0.65FRCYX Fidelity SustainablePairCorr
  0.78FRDCX Fidelity SustainablePairCorr
  0.74FRDEX Fidelity SustainablePairCorr
  0.87FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Value 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 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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