Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FCIGX Fund  USD 33.75  0.18  0.53%   
The current 90-days correlation between Fidelity Small Cap and Fidelity Small Cap is -0.1 (i.e., Good diversification). The correlation of Fidelity Small 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 Small Correlation With Market

Good diversification

The correlation between Fidelity Small Cap and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small Cap 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 Small Cap. 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 price.

Moving together with Fidelity Mutual Fund

  0.72FPTKX Fidelity Freedom 2015PairCorr
  0.76FPURX Fidelity PuritanPairCorr
  0.76FPUKX Fidelity PuritanPairCorr
  0.72FQIFX Fidelity Freedom IndexPairCorr
  0.73FQIPX Fidelity Freedom IndexPairCorr
  0.73FRBDX Fidelity Freedom 2070PairCorr
  0.73FRBJX Fidelity Advisor FreedomPairCorr
  0.99FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBUX Fidelity Freedom IndexPairCorr
  0.74FRAGX Aggressive GrowthPairCorr
  0.7FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRDCX Fidelity SustainablePairCorr
  0.74FRGAX Growth Allocation IndexPairCorr
  0.85FRIOX Fidelity Real EstatePairCorr
  0.7FRHMX Fidelity Managed RetPairCorr
  0.73FACVX Fidelity ConvertiblePairCorr
  0.77FADTX Fidelity Advisor TecPairCorr
  0.7FAFDX Fidelity Advisor FinPairCorr
  0.7FAFCX Fidelity Advisor FinPairCorr
  0.75FAGIX Fidelity Capital IncomePairCorr
  0.77FAGCX Fidelity Advisor GrowthPairCorr
  0.77FAGAX Fidelity Advisor GrowthPairCorr
  0.64FTF Franklin TempletonPairCorr
  1.0FSAKX Strategic Advisers TotalPairCorr
  0.98FSAMX Strategic AdvisersPairCorr
  0.68FSAWX Fidelity Sai ConvertiblePairCorr
  0.99FAOFX Fidelity Advisor SeriesPairCorr
  0.71FSCOX Fidelity InternationalPairCorr

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 Small 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 Small'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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