Fidelity Large Correlations

FCLKX Fund

USD 18.80 0.18 0.95%

The current 90-days correlation between Fidelity Large Cap and Fidelity Freedom 2015 is 0.87 (i.e., Very poor diversification). The correlation of Fidelity Large 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 Large Correlation With Market

Poor diversification

The correlation between Fidelity Large Cap and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Large 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 Large 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

0.93	FPTKX	Fidelity Freedom 2015	Pair Corr
0.8	FPURX	Fidelity Puritan	Pair Corr
0.8	FPUKX	Fidelity Puritan	Pair Corr
0.93	FQIFX	Fidelity Freedom Index	Pair Corr
0.97	FQLSX	Fidelity Flex Freedom	Pair Corr
0.96	FRBEX	Fidelity Freedom 2070	Pair Corr
0.93	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.92	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.96	FRBQX	Fidelity Flex Freedom	Pair Corr
0.96	FRBZX	Fidelity Freedom Blend	Pair Corr
0.89	FRASX	Fidelity Income Repl	Pair Corr
0.96	FRCPX	Fidelity Freedom Blend	Pair Corr
0.95	FRCRX	Fidelity Sustainable	Pair Corr
0.97	FRGAX	Growth Allocation Index	Pair Corr
0.86	FRIMX	Fidelity Income Repl	Pair Corr
0.86	FRQIX	Fidelity Income Repl	Pair Corr
0.83	FAASX	Fidelity Asset Manager	Pair Corr
0.95	FAAIX	Fidelity Asset Manager	Pair Corr
0.67	FACTX	Fidelity Advisor Health	Pair Corr
0.67	FACDX	Fidelity Advisor Health	Pair Corr
0.88	FADMX	Fidelity Advisor Str	Pair Corr
0.84	FAGIX	Fidelity Capital Income	Pair Corr
0.76	FAGCX	Fidelity Advisor Growth	Pair Corr
0.68	FALAX	Fidelity Advisor Large	Pair Corr
0.95	FSANX	Fidelity Asset Manager	Pair Corr
0.69	FSAWX	Fidelity Sai Convertible	Pair Corr
0.95	FAMRX	Fidelity Asset Manager	Pair Corr
0.89	FSCEX	Fidelity Advisor Small	Pair Corr
0.9	FSCIX	Fidelity Advisor Small	Pair Corr

Moving against Fidelity Mutual Fund

0.35	FTF	Franklin Templeton	Pair Corr
0.45	FSCHX	Chemicals Portfolio	Pair Corr
0.31	FAOAX	Fidelity Advisor Overseas	Pair Corr

Related Correlations Analysis

	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRBDX	FRBEX
FPTKX		0.86	0.86	0.67	0.99	0.97	0.61	0.95	0.95	0.95	FPTKX
FPURX	0.86		1.0	0.89	0.85	0.79	0.24	0.76	0.76	0.76	FPURX
FPUKX	0.86	1.0		0.89	0.85	0.79	0.24	0.76	0.76	0.76	FPUKX
FPXTX	0.67	0.89	0.89		0.65	0.56	0.03	0.49	0.51	0.51	FPXTX
FQIFX	0.99	0.85	0.85	0.65		0.98	0.64	0.96	0.96	0.95	FQIFX
FQIPX	0.97	0.79	0.79	0.56	0.98		0.64	0.99	0.99	0.99	FQIPX
FQITX	0.61	0.24	0.24	0.03	0.64	0.64		0.65	0.64	0.64	FQITX
FQLSX	0.95	0.76	0.76	0.49	0.96	0.99	0.65		1.0	1.0	FQLSX
FRBDX	0.95	0.76	0.76	0.51	0.96	0.99	0.64	1.0		1.0	FRBDX
FRBEX	0.95	0.76	0.76	0.51	0.95	0.99	0.64	1.0	1.0		FRBEX
	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRBDX	FRBEX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Large 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 Large'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
FPTKX	0.21	(0.01)	(0.16)	0.04	0.23	(0.25)	0.48	(0.48)	1.37
FPURX	0.43	0.06	0.03	0.21	0.42	(0.45)	1.27	(1.10)	3.31
FPUKX	0.43	0.06	0.03	0.21	0.42	(0.47)	1.31	(1.06)	3.27
FPXTX	0.08	0.01	(0.47)	(0.73)	0.00	(0.13)	0.19	(0.19)	0.47
FQIFX	0.29	(0.01)	(0.11)	0.04	0.38	(0.28)	0.63	(0.66)	1.72
FQIPX	0.49	(0.01)	(0.03)	0.05	0.72	(0.48)	1.00	(1.12)	2.86
FQITX	0.72	(0.08)	0.00	(0.02)	0.00	0.00	1.09	(1.50)	2.99
FQLSX	0.51	(0.01)	(0.03)	0.05	0.75	(0.49)	1.04	(1.17)	3.05
FRBDX	0.52	(0.01)	(0.03)	0.05	0.77	(0.49)	1.05	(1.21)	3.05
FRBEX	0.52	(0.01)	(0.03)	0.05	0.79	(0.50)	1.06	(1.21)	3.10

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