Fidelity Connecticut Correlations

Mutual Funds . USA . 
Fund . Fidelity Necticut Municipal
FICNX Fund  USD 10.72  0.02  0.19%   
The current 90-days correlation between Fidelity Connecticut and Fidelity Pennsylvania Municipal is 0.19 (i.e., Average diversification). The correlation of Fidelity Connecticut 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 Connecticut Correlation With Market

Weak diversification

The correlation between Fidelity Necticut Municipal and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Necticut Municipal 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 Necticut Municipal. 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 board of governors.

Moving together with Fidelity Mutual Fund

  0.78FPTKX Fidelity Freedom 2015PairCorr
  0.78FPURX Fidelity PuritanPairCorr
  0.78FPUKX Fidelity PuritanPairCorr
  0.73FPXTX Fidelity PennsylvaniaPairCorr
  0.77FQIFX Fidelity Freedom IndexPairCorr
  0.75FQIPX Fidelity Freedom IndexPairCorr
  0.75FQLSX Fidelity Flex FreedomPairCorr
  0.75FRBDX Fidelity Freedom 2070PairCorr
  0.75FRBJX Fidelity Advisor FreedomPairCorr
  0.74FRBKX Fidelity Advisor FreedomPairCorr
  0.74FRBPX Fidelity Advisor FreedomPairCorr
  0.75FRBQX Fidelity Flex FreedomPairCorr
  0.75FRBUX Fidelity Freedom IndexPairCorr
  0.75FRAGX Aggressive GrowthPairCorr
  0.79FRAMX Fidelity Income ReplPairCorr
  0.78FRASX Fidelity Income ReplPairCorr
  0.74FRCHX Fidelity Freedom BlendPairCorr
  0.74FRCWX Fidelity SustainablePairCorr
  0.74FRDCX Fidelity SustainablePairCorr
  0.76FRGAX Growth Allocation IndexPairCorr
  0.71FRIFX Fidelity Real EstatePairCorr
  0.71FRIOX Fidelity Real EstatePairCorr
  0.79FRHMX Fidelity Managed RetPairCorr
  0.71FRIRX Fidelity Real EstatePairCorr
  0.79FRQIX Fidelity Income ReplPairCorr
  0.74FACVX Fidelity ConvertiblePairCorr
  0.77FADTX Fidelity Advisor TecPairCorr
  0.74FAEGX Fidelity Advisor EquityPairCorr
  0.71FAFSX Fidelity Advisor FinPairCorr
  0.71FAFDX Fidelity Advisor FinPairCorr
  0.71FAFCX Fidelity Advisor FinPairCorr
  0.77FAGIX Fidelity Capital IncomePairCorr
  0.77FAGCX Fidelity Advisor GrowthPairCorr
  0.77FAGAX Fidelity Advisor GrowthPairCorr
  0.72FTF Franklin TempletonPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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