Fidelity Strategic Correlations

Mutual Funds . USA . 
Fund . Fidelity Strategic Dividend
FASDX Fund  USD 17.50  0.01  0.06%   
The current 90-days correlation between Fidelity Strategic and Old Westbury Large is 0.83 (i.e., Very poor diversification). The correlation of Fidelity Strategic 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 Strategic Correlation With Market

Good diversification

The correlation between Fidelity Strategic Dividend and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Strategic Dividend 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 Strategic Dividend. 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 unemployment.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.97FPURX Fidelity PuritanPairCorr
  0.97FPUKX Fidelity PuritanPairCorr
  0.7FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.84FQITX Fidelity Salem StreetPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.99FRBDX Fidelity Freedom 2070PairCorr
  0.99FRBEX Fidelity Freedom 2070PairCorr
  0.99FRBHX Fidelity Freedom 2070PairCorr
  0.98FRBJX Fidelity Advisor FreedomPairCorr
  0.99FRBKX Fidelity Advisor FreedomPairCorr
  0.98FRBLX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.98FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBUX Fidelity Freedom IndexPairCorr
  0.99FRBWX Fidelity Freedom IndexPairCorr
  0.99FRBYX Fidelity Freedom BlendPairCorr
  0.98FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCLX Fidelity Freedom BlendPairCorr
  0.98FRCQX Fidelity SustainablePairCorr
  0.99FRCRX Fidelity SustainablePairCorr
  0.99FRCWX Fidelity SustainablePairCorr
  0.98FRCYX Fidelity SustainablePairCorr
  0.99FRDCX Fidelity SustainablePairCorr
  0.99FRDDX Fidelity SustainablePairCorr
  0.99FRDEX Fidelity SustainablePairCorr
  0.98FRGAX Growth Allocation IndexPairCorr
  0.69FRESX Fidelity Real EstatePairCorr
  0.86FRIFX Fidelity Real EstatePairCorr
  0.94FRIMX Fidelity Income ReplPairCorr
  0.91FRINX Fidelity Real EstatePairCorr
  0.87FRIOX Fidelity Real EstatePairCorr
  0.92FRIQX Fidelity Real EstatePairCorr
  0.97FRHMX Fidelity Managed RetPairCorr

Moving against Fidelity Mutual Fund

  0.72FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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