Fidelity Sustainable Correlations

Mutual Funds . USA . 
Fund . Fidelity Sustainable Target
FRCQX Fund   11.25  0.06  0.54%   
The current 90-days correlation between Fidelity Sustainable and Fidelity Freedom 2015 is 0.9 (i.e., Almost no diversification). The correlation of Fidelity Sustainable 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 Sustainable Correlation With Market

Very poor diversification

The correlation between Fidelity Sustainable Target and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sustainable Target 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 Sustainable Target. 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 producer price index.

Moving together with Fidelity Mutual Fund

  0.99FPTKX Fidelity Freedom 2015PairCorr
  1.0FPURX Fidelity PuritanPairCorr
  1.0FPUKX Fidelity PuritanPairCorr
  0.71FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.88FQITX Fidelity Salem StreetPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  1.0FRBDX Fidelity Freedom 2070PairCorr
  1.0FRBEX Fidelity Freedom 2070PairCorr
  1.0FRBJX Fidelity Advisor FreedomPairCorr
  1.0FRBKX Fidelity Advisor FreedomPairCorr
  1.0FRBPX Fidelity Advisor FreedomPairCorr
  1.0FRBQX Fidelity Flex FreedomPairCorr
  1.0FRBUX Fidelity Freedom IndexPairCorr
  1.0FRBYX Fidelity Freedom BlendPairCorr
  1.0FRBZX Fidelity Freedom BlendPairCorr
  1.0FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.98FRASX Fidelity Income ReplPairCorr
  1.0FRCHX Fidelity Freedom BlendPairCorr
  1.0FRCLX Fidelity Freedom BlendPairCorr
  1.0FRCRX Fidelity SustainablePairCorr
  1.0FRCWX Fidelity SustainablePairCorr
  1.0FRDCX Fidelity SustainablePairCorr
  1.0FRDDX Fidelity SustainablePairCorr
  1.0FRGAX Growth Allocation IndexPairCorr
  0.73FRESX Fidelity Real EstatePairCorr
  0.89FRIFX Fidelity Real EstatePairCorr
  0.97FRIMX Fidelity Income ReplPairCorr
  0.89FRINX Fidelity Real EstatePairCorr
  0.9FRIOX Fidelity Real EstatePairCorr
  0.9FRIQX Fidelity Real EstatePairCorr
  0.97FRHMX Fidelity Managed RetPairCorr
  0.97FRKMX Fidelity Managed RetPairCorr
  0.9FRIRX Fidelity Real EstatePairCorr
  1.0FRLPX Fidelity Freedom IndexPairCorr
  0.97FRQHX Fidelity Managed RetPairCorr
  0.97FRQIX Fidelity Income ReplPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Sustainable 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 Sustainable'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.24  0.06 (0.09) 0.35  0.00 
(0.29)
 0.68 
(0.50)
 1.67 
FPURX  0.41  0.08  0.04  0.28  0.23 
(0.45)
 1.28 
(0.84)
 2.85 
FPUKX  0.41  0.08  0.03  0.27  0.25 
(0.45)
 1.32 
(0.88)
 2.90 
FPXTX  0.12 (0.01)(0.66)(0.06) 0.11 
(0.17)
 0.30 
(0.20)
 0.89 
FQIFX  0.31  0.07 (0.02) 0.30  0.00 
(0.36)
 0.96 
(0.60)
 2.17 
FQIPX  0.47  0.12  0.10  0.31  0.29 
(0.57)
 1.48 
(1.18)
 3.29 
FQITX  0.56  0.06 (0.03) 0.27  0.64 
(0.60)
 1.27 
(1.14)
 3.58 
FQLSX  0.47  0.13  0.12  0.33  0.24 
(0.58)
 1.53 
(1.22)
 3.33 
FRBDX  0.48  0.13  0.12  0.34  0.26 
(0.60)
 1.61 
(1.11)
 3.27 
FRBEX  0.47  0.14  0.13  0.34  0.22 
(0.58)
 1.61 
(1.11)
 3.18 

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