Fidelity Magellan Correlations

Mutual Funds . USA . 
Fund . Fidelity Magellan Fund
FMAGX Fund  USD 15.83  0.04  0.25%   
The current 90-days correlation between Fidelity Magellan and Fidelity Growth Income is 0.11 (i.e., Average diversification). The correlation of Fidelity Magellan 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 Magellan Correlation With Market

Very poor diversification

The correlation between Fidelity Magellan Fund 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 Magellan Fund 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 Magellan Fund. 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 price.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.99FPURX Fidelity PuritanPairCorr
  0.99FPUKX Fidelity PuritanPairCorr
  0.72FPXTX Fidelity PennsylvaniaPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.88FQITX Fidelity Salem StreetPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.99FRBDX Fidelity Freedom 2070PairCorr
  0.66FRBEX Fidelity Freedom 2070PairCorr
  0.66FRBHX Fidelity Freedom 2070PairCorr
  0.76FRBJX Fidelity Advisor FreedomPairCorr
  0.66FRBKX Fidelity Advisor FreedomPairCorr
  0.66FRBLX Fidelity Advisor FreedomPairCorr
  0.99FRBOX Fidelity Advisor FreedomPairCorr
  0.66FRBPX Fidelity Advisor FreedomPairCorr
  0.65FRBQX Fidelity Flex FreedomPairCorr
  0.65FRBUX Fidelity Freedom IndexPairCorr
  0.65FRBVX Fidelity Freedom IndexPairCorr
  0.65FRBWX Fidelity Freedom IndexPairCorr
  0.65FRBYX Fidelity Freedom BlendPairCorr
  0.66FRBZX Fidelity Freedom BlendPairCorr
  0.75FRAGX Aggressive GrowthPairCorr
  0.94FRAMX Fidelity Income ReplPairCorr
  0.62FRASX Fidelity Income ReplPairCorr
  0.65FRCFX Fidelity Freedom BlendPairCorr
  0.66FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCKX Fidelity Freedom BlendPairCorr
  0.66FRCLX Fidelity Freedom BlendPairCorr
  0.99FRCNX Fidelity Freedom BlendPairCorr
  0.65FRCPX Fidelity Freedom BlendPairCorr
  0.66FRCQX Fidelity SustainablePairCorr
  0.66FRCRX Fidelity SustainablePairCorr
  0.66FRCVX Fidelity SustainablePairCorr
  0.66FRCWX Fidelity SustainablePairCorr
  0.67FRCYX Fidelity SustainablePairCorr
  0.67FRDCX Fidelity SustainablePairCorr
  0.66FRDDX Fidelity SustainablePairCorr
  0.66FRDEX Fidelity SustainablePairCorr
  0.99FRGAX 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 Magellan 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 Magellan'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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