Fidelity Stock Correlations

FDSCX Fund  USD 38.01  0.20  0.52%   
The current 90-days correlation between Fidelity Stock Selector and Fidelity Stock Selector is 0.88 (i.e., Very poor diversification). The correlation of Fidelity Stock 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 Stock Correlation With Market

Very poor diversification

The correlation between Fidelity Stock Selector and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Stock Selector 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 Stock Selector. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.74FPXTX Fidelity PennsylvaniaPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.82FQITX Fidelity Salem StreetPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.96FRBDX Fidelity Freedom 2070PairCorr
  0.96FRBEX Fidelity Freedom 2070PairCorr
  0.96FRBHX Fidelity Freedom 2070PairCorr
  0.98FRBJX Fidelity Advisor FreedomPairCorr
  0.96FRBKX Fidelity Advisor FreedomPairCorr
  0.96FRBLX Fidelity Advisor FreedomPairCorr
  0.96FRBOX Fidelity Advisor FreedomPairCorr
  0.98FRBPX Fidelity Advisor FreedomPairCorr
  0.98FRBQX Fidelity Flex FreedomPairCorr
  0.96FRBUX Fidelity Freedom IndexPairCorr
  0.98FRBVX Fidelity Freedom IndexPairCorr
  0.96FRBWX Fidelity Freedom IndexPairCorr
  0.96FRBYX Fidelity Freedom BlendPairCorr
  0.96FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.98FRCFX Fidelity Freedom BlendPairCorr
  0.98FRCHX Fidelity Freedom BlendPairCorr
  0.98FRCKX Fidelity Freedom BlendPairCorr
  0.96FRCLX Fidelity Freedom BlendPairCorr
  0.96FRCNX Fidelity Freedom BlendPairCorr
  0.96FRCPX Fidelity Freedom BlendPairCorr
  0.95FRCQX Fidelity SustainablePairCorr
  0.96FRCRX Fidelity SustainablePairCorr
  0.98FRCVX Fidelity SustainablePairCorr
  0.96FRCWX Fidelity SustainablePairCorr
  0.96FRCYX Fidelity SustainablePairCorr
  0.98FRDCX Fidelity SustainablePairCorr
  0.98FRDDX Fidelity SustainablePairCorr
  0.96FRDEX Fidelity SustainablePairCorr
  0.98FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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