Fidelity Convertible Correlations
| FCCVX Fund | USD 36.03 0.25 0.69% |
The current 90-days correlation between Fidelity Convertible and Firsthand Technology Opportunities is -0.07 (i.e., Good diversification). The correlation of Fidelity Convertible 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 Convertible Correlation With Market
Good diversification
The correlation between Fidelity Vertible Securities and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Vertible Securities and DJI in the same portfolio, assuming nothing else is changed.
Fidelity |
Moving together with Fidelity Mutual Fund
Moving against Fidelity Mutual Fund
| 0.47 | MCSVX | Mainstay Vertible | PairCorr |
| 0.65 | MCD | McDonalds | PairCorr |
| 0.59 | KO | Coca Cola Earnings Call This Week | PairCorr |
| 0.36 | VZ | Verizon Communications Earnings Call This Week | PairCorr |
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 Convertible 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 Convertible'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 | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TEFQX | 1.63 | 0.28 | 0.22 | 0.42 | 1.21 | 3.80 | 18.01 | |||
| TEPIX | 1.86 | 0.26 | 0.23 | 0.35 | 1.71 | 4.42 | 27.33 | |||
| ITYYX | 1.22 | 0.21 | 0.21 | 0.40 | 0.87 | 2.98 | 16.38 | |||
| CMTFX | 1.25 | 0.18 | 0.19 | 0.36 | 1.01 | 3.02 | 18.13 | |||
| DTEYX | 1.28 | 0.18 | 0.19 | 0.37 | 0.97 | 3.35 | 17.17 | |||
| JNGTX | 1.15 | 0.21 | 0.21 | 0.40 | 0.83 | 3.12 | 15.87 | |||
| RAGTX | 1.38 | 0.19 | 0.21 | 0.36 | 1.02 | 3.49 | 19.70 | |||
| HTECX | 1.25 | 0.13 | 0.14 | 0.33 | 1.00 | 2.86 | 17.03 |