Multimedia Portfolio Correlations

Mutual Funds . USA . 
Fund . Multimedia Portfolio Multimedia
FBMPX Fund  USD 128.49  0.42  0.33%   
The current 90-days correlation between Multimedia Portfolio and Consumer Discretionary Portfolio is 0.66 (i.e., Poor diversification). The correlation of Multimedia Portfolio 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.

Multimedia Portfolio Correlation With Market

Poor diversification

The correlation between Multimedia Portfolio Multimedi and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multimedia Portfolio Multimedi 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 Multimedia Portfolio Multimedia. 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 american community survey.

Moving together with Multimedia Mutual Fund

  0.69FPTKX Fidelity Freedom 2015PairCorr
  0.69FPURX Fidelity PuritanPairCorr
  0.69FPUKX Fidelity PuritanPairCorr
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.69FQIFX Fidelity Freedom IndexPairCorr
  0.69FQIPX Fidelity Freedom IndexPairCorr
  0.69FQITX Fidelity Salem StreetPairCorr
  0.69FQLSX Fidelity Flex FreedomPairCorr
  0.7FRBDX Fidelity Freedom 2070PairCorr
  0.98FRBEX Fidelity Freedom 2070PairCorr
  0.98FRBHX Fidelity Freedom 2070PairCorr
  0.99FRBJX Fidelity Advisor FreedomPairCorr
  0.98FRBKX Fidelity Advisor FreedomPairCorr
  0.98FRBLX Fidelity Advisor FreedomPairCorr
  0.98FRBOX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  0.98FRBUX Fidelity Freedom IndexPairCorr
  0.99FRBVX Fidelity Freedom IndexPairCorr
  0.98FRBWX Fidelity Freedom IndexPairCorr
  0.98FRBYX Fidelity Freedom BlendPairCorr
  0.98FRBZX Fidelity Freedom BlendPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.68FRAMX Fidelity Income ReplPairCorr
  0.98FRASX Fidelity Income ReplPairCorr
  0.99FRCFX Fidelity Freedom BlendPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCKX Fidelity Freedom BlendPairCorr
  0.98FRCLX Fidelity Freedom BlendPairCorr
  0.98FRCNX Fidelity Freedom BlendPairCorr
  0.98FRCPX Fidelity Freedom BlendPairCorr
  0.97FRCQX Fidelity SustainablePairCorr
  0.98FRCRX Fidelity SustainablePairCorr
  0.99FRCVX Fidelity SustainablePairCorr
  0.98FRCWX Fidelity SustainablePairCorr
  0.98FRCYX Fidelity SustainablePairCorr
  0.99FRDCX Fidelity SustainablePairCorr
  0.99FRDDX Fidelity SustainablePairCorr
  0.98FRDEX Fidelity SustainablePairCorr
  0.69FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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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   
FSRFX
+ 0.97
FDLSX
FSRFX
+ 0.96
FSCPX
FDLSX
+ 0.94
FSCPX
FSAVX
+ 0.94
FSCPX
FSRFX
+ 0.88
FSAVX
FSAVX
+ 0.82
FDLSX
  
High negative correlations   
FSPCX
- 0.22
FDLSX
FSRFX
- 0.16
FSPCX
FSPCX
- 0.03
FSCPX

Risk-Adjusted Indicators

There is a big difference between Multimedia Mutual Fund performing well and Multimedia Portfolio 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 Multimedia Portfolio'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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