Fidelity Series Correlations

Mutual Funds . USA . 
Fund . Fidelity Series Equity Income
FNKLX Fund  USD 16.15  0.02  0.12%   
The current 90-days correlation between Fidelity Series Equity and Great West Loomis Sayles is 0.77 (i.e., Poor diversification). The correlation of Fidelity Series 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 Series Correlation With Market

Very poor diversification

The correlation between Fidelity Series Equity Income and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Equity Income 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 Series Equity Income. 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  0.67FPTKX Fidelity Freedom 2015PairCorr
  0.67FPURX Fidelity PuritanPairCorr
  0.67FPUKX Fidelity PuritanPairCorr
  0.71FPXTX Fidelity PennsylvaniaPairCorr
  0.68FQIFX Fidelity Freedom IndexPairCorr
  0.68FQIPX Fidelity Freedom IndexPairCorr
  0.74FQITX Fidelity Salem StreetPairCorr
  0.68FQLSX Fidelity Flex FreedomPairCorr
  0.68FRBDX Fidelity Freedom 2070PairCorr
  0.68FRBEX Fidelity Freedom 2070PairCorr
  0.97FRBHX Fidelity Freedom 2070PairCorr
  0.68FRBJX Fidelity Advisor FreedomPairCorr
  0.75FRBKX Fidelity Advisor FreedomPairCorr
  0.76FRBLX Fidelity Advisor FreedomPairCorr
  0.97FRBOX Fidelity Advisor FreedomPairCorr
  0.75FRBPX Fidelity Advisor FreedomPairCorr
  0.75FRBQX Fidelity Flex FreedomPairCorr
  0.75FRBUX Fidelity Freedom IndexPairCorr
  0.98FRBVX Fidelity Freedom IndexPairCorr
  0.75FRBWX Fidelity Freedom IndexPairCorr
  0.75FRBYX Fidelity Freedom BlendPairCorr
  0.75FRBZX Fidelity Freedom BlendPairCorr
  0.67FRAGX Aggressive GrowthPairCorr
  0.66FRAMX Fidelity Income ReplPairCorr
  0.73FRASX Fidelity Income ReplPairCorr
  0.98FRCFX Fidelity Freedom BlendPairCorr
  0.75FRCHX Fidelity Freedom BlendPairCorr
  0.98FRCKX Fidelity Freedom BlendPairCorr
  0.75FRCLX Fidelity Freedom BlendPairCorr
  0.97FRCNX Fidelity Freedom BlendPairCorr
  0.97FRCPX Fidelity Freedom BlendPairCorr
  0.75FRCQX Fidelity SustainablePairCorr
  0.75FRCRX Fidelity SustainablePairCorr
  0.98FRCVX Fidelity SustainablePairCorr
  0.75FRCWX Fidelity SustainablePairCorr
  0.76FRCYX Fidelity SustainablePairCorr
  0.76FRDCX Fidelity SustainablePairCorr
  0.75FRDDX Fidelity SustainablePairCorr
  0.68FRDEX Fidelity SustainablePairCorr
  0.67FRGAX 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 Series 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 Series' 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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