Fidelity Small Correlations

FFSM Etf

27.70 0.13 0.47%

The current 90-days correlation between Fidelity Small Mid and Matthews China Discovery is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Small moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Small Mid Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity Small Correlation With Market

Very poor diversification

The correlation between Fidelity Small Mid Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small Mid Cap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fidelity Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Small Mid Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Fidelity Etf

0.99	VO	Vanguard Mid Cap	Pair Corr
0.99	VXF	Vanguard Extended Market Sell-off Trend	Pair Corr
1.0	IJH	iShares Core SP Sell-off Trend	Pair Corr
1.0	IWR	iShares Russell Mid	Pair Corr
1.0	MDY	SPDR SP MIDCAP	Pair Corr
0.99	FV	First Trust Dorsey	Pair Corr
1.0	IVOO	Vanguard SP Mid	Pair Corr
1.0	JHMM	John Hancock Multifactor	Pair Corr
1.0	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.99	XMMO	Invesco SP MidCap	Pair Corr
0.97	SIXD	AIM ETF Products	Pair Corr
0.87	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.97	CEFD	ETRACS Monthly Pay	Pair Corr
0.86	KGRN	KraneShares MSCI China	Pair Corr
0.98	BUFD	FT Cboe Vest	Pair Corr
0.64	EUSB	iShares Trust	Pair Corr
0.79	CVX	Chevron Corp	Pair Corr
0.95	CSCO	Cisco Systems	Pair Corr
0.96	MSFT	Microsoft	Pair Corr
0.95	DIS	Walt Disney	Pair Corr
0.92	DD	Dupont De Nemours	Pair Corr
0.94	MMM	3M Company	Pair Corr
0.96	CAT	Caterpillar	Pair Corr
0.89	IBM	International Business Earnings Call This Week	Pair Corr
0.92	AA	Alcoa Corp	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.98	AXP	American Express	Pair Corr
0.97	BAC	Bank of America	Pair Corr
0.92	GE	GE Aerospace Earnings Call This Week	Pair Corr

Moving against Fidelity Etf

0.98	VXX	iPath Series B	Pair Corr
0.98	VIXY	ProShares VIX Short	Pair Corr
0.81	YCL	ProShares Ultra Yen	Pair Corr
0.6	KO	Coca Cola Earnings Call This Week	Pair Corr
0.59	MCD	McDonalds	Pair Corr
0.52	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	MCHS	MEMS	MSSM	NBSM	EPSB	EPSV	FFSM	OCFS	FSCS
MCHS		0.95	0.92	0.88	0.2	0.15	0.9	0.91	0.81	MCHS
MEMS	0.95		0.96	0.91	0.19	0.1	0.93	0.96	0.85	MEMS
MSSM	0.92	0.96		0.98	0.14	0.07	0.99	0.98	0.95	MSSM
NBSM	0.88	0.91	0.98		0.04	-0.02	0.99	0.95	0.97	NBSM
EPSB	0.2	0.19	0.14	0.04		0.87	0.05	0.15	-0.04	EPSB
EPSV	0.15	0.1	0.07	-0.02	0.87		-0.01	0.07	-0.11	EPSV
FFSM	0.9	0.93	0.99	0.99	0.05	-0.01		0.97	0.97	FFSM
OCFS	0.91	0.96	0.98	0.95	0.15	0.07	0.97		0.91	OCFS
FSCS	0.81	0.85	0.95	0.97	-0.04	-0.11	0.97	0.91		FSCS
	MCHS	MEMS	MSSM	NBSM	EPSB	EPSV	FFSM	OCFS	FSCS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FFSM	+ 0.99	MSSM
FFSM	+ 0.99	NBSM
NBSM	+ 0.98	MSSM
OCFS	+ 0.98	MSSM
FSCS	+ 0.97	NBSM
OCFS	+ 0.97	FFSM

High negative correlations

FSCS	- 0.11	EPSV
FSCS	- 0.04	EPSB
EPSV	- 0.02	NBSM
FFSM	- 0.01	EPSV

Fidelity Small Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Small ETF 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MCHS	0.83	0.18	0.11	0.45	0.73	(0.94)	2.23	(1.80)	4.87
MEMS	0.87	0.17	0.09	0.41	0.96	(0.90)	2.14	(1.97)	5.11
MSSM	0.84	0.12	0.11	0.25	0.77	(0.95)	2.07	(1.63)	6.50
NBSM	0.81	0.04	0.03	0.17	0.85	(0.88)	1.87	(1.57)	6.24
EPSB	0.73	0.08	0.04	0.25	0.59	(0.93)	1.67	(1.31)	5.71
EPSV	0.85	0.11	0.08	0.29	0.73	(1.08)	2.17	(1.43)	6.98
FFSM	0.83	0.10	0.10	0.22	0.78	(1.01)	2.09	(1.73)	6.21
OCFS	0.73	0.13	0.12	0.27	0.64	(0.86)	1.81	(1.15)	4.65
FSCS	0.80	0.00	0.00	0.13	0.82	(0.88)	2.21	(1.96)	4.83

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC