Fidelity New Correlations

Mutual Funds . USA . 
Fund . Fidelity New Markets
FGWMX Fund  USD 12.93  0.01  0.08%   
The current 90-days correlation between Fidelity New Markets and Eagle Growth Income is 0.51 (i.e., Very weak diversification). The correlation of Fidelity New 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 New Correlation With Market

Good diversification

The correlation between Fidelity New Markets and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity New Markets 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 New Markets. 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 population.

Moving together with Fidelity Mutual Fund

  0.96FPTKX Fidelity Freedom 2015PairCorr
  0.95FPURX Fidelity PuritanPairCorr
  0.96FPUKX Fidelity PuritanPairCorr
  0.72FPXTX Fidelity PennsylvaniaPairCorr
  0.96FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.78FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.96FRBDX Fidelity Freedom 2070PairCorr
  0.96FRBEX Fidelity Freedom 2070PairCorr
  0.96FRBHX Fidelity Freedom 2070PairCorr
  0.95FRBJX Fidelity Advisor FreedomPairCorr
  0.96FRBKX Fidelity Advisor FreedomPairCorr
  0.96FRBLX Fidelity Advisor FreedomPairCorr
  0.96FRBOX Fidelity Advisor FreedomPairCorr
  0.95FRBPX Fidelity Advisor FreedomPairCorr
  0.96FRBQX Fidelity Flex FreedomPairCorr
  0.96FRBUX Fidelity Freedom IndexPairCorr
  0.95FRBVX Fidelity Freedom IndexPairCorr
  0.96FRBWX Fidelity Freedom IndexPairCorr
  0.96FRBYX Fidelity Freedom BlendPairCorr
  0.96FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.98FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  0.95FRCFX Fidelity Freedom BlendPairCorr
  0.95FRCHX Fidelity Freedom BlendPairCorr
  0.95FRCKX 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
  0.95FRCVX Fidelity SustainablePairCorr
  0.95FRCWX Fidelity SustainablePairCorr
  0.95FRCYX Fidelity SustainablePairCorr
  0.95FRDCX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr
  0.96FRDEX Fidelity SustainablePairCorr
  0.96FRGAX 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 New 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 New'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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