Fidelity Real Correlations

FRESX Fund

USD 39.37 0.24 0.61%

The current 90-days correlation between Fidelity Real Estate and Dreyfus Government Cash is 0.06 (i.e., Significant diversification). The correlation of Fidelity Real 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 Real Correlation With Market

Very poor diversification

The correlation between Fidelity Real Estate and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Real Estate 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 Real Estate. 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 state.

Moving together with Fidelity Mutual Fund

0.66	O	Realty Income	Pair Corr
0.79	DX	Dynex Capital	Pair Corr
0.78	FR	First Industrial Realty	Pair Corr
0.61	OZ	Belpointe PREP LLC	Pair Corr
0.75	PK	Park Hotels Resorts	Pair Corr
0.88	UE	Urban Edge Properties	Pair Corr
0.61	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.79	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.72	AHT-PG	Ashford Hospitality Trust Downward Rally	Pair Corr
0.81	VNO-PL	Vornado Realty Trust	Pair Corr
0.81	VNO-PM	Vornado Realty Trust	Pair Corr
0.81	VNO-PN	Vornado Realty Trust	Pair Corr
0.77	VNO-PO	Vornado Realty Trust	Pair Corr
0.66	VICI	VICI Properties	Pair Corr
0.71	MITT-PA	AG Mortgage Investment	Pair Corr
0.83	MITT-PB	AG Mortgage Investment	Pair Corr
0.85	MITT-PC	AG Mortgage Investment	Pair Corr
0.73	ELME	Elme Communities	Pair Corr
0.89	EPRT	Essential Properties	Pair Corr
0.74	EQIX	Equinix	Pair Corr
0.86	WELL	Welltower	Pair Corr
0.64	ESBA	Empire State Realty	Pair Corr
0.85	CDR-PC	Cedar Realty Trust	Pair Corr
0.63	ESRT	Empire State Realty	Pair Corr

Moving against Fidelity Mutual Fund

0.35

WETH

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Pair Corr

Related Correlations Analysis

	DVPXX	IVMXX	SIGVX	SNGYX	RGVAX	SWGXX	TWUSX
DVPXX		0.94	0.75	0.27	-0.03	0.71	0.64	DVPXX
IVMXX	0.94		0.79	0.21	-0.14	0.66	0.56	IVMXX
SIGVX	0.75	0.79		0.57	0.21	0.51	0.82	SIGVX
SNGYX	0.27	0.21	0.57		0.88	0.17	0.8	SNGYX
RGVAX	-0.03	-0.14	0.21	0.88		-0.04	0.62	RGVAX
SWGXX	0.71	0.66	0.51	0.17	-0.04		0.53	SWGXX
TWUSX	0.64	0.56	0.82	0.8	0.62	0.53		TWUSX
	DVPXX	IVMXX	SIGVX	SNGYX	RGVAX	SWGXX	TWUSX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

IVMXX	+ 0.94	DVPXX
RGVAX	+ 0.88	SNGYX
TWUSX	+ 0.82	SIGVX
TWUSX	+ 0.8	SNGYX
SIGVX	+ 0.79	IVMXX
SIGVX	+ 0.75	DVPXX

High negative correlations

RGVAX	- 0.14	IVMXX
SWGXX	- 0.04	RGVAX
RGVAX	- 0.03	DVPXX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Real 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 Real'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DVPXX	0.03	0.01	0.00	1.36	0.00	0.00	0.00	0.00	1.01
IVMXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
SIGVX	0.06	0.01	(0.49)	7.74	0.00	(0.19)	0.10	(0.10)	0.61
SNGYX	0.22	0.02	(0.14)	(0.34)	0.21	(0.26)	0.49	(0.49)	1.26
RGVAX	0.32	0.02	(0.10)	(0.41)	0.36	(0.33)	0.59	(0.67)	1.84
SWGXX	0.03	0.01	0.00	(2.04)	0.00	0.00	0.00	0.00	1.01
TWUSX	0.11	0.01	(0.28)	(0.51)	0.00	(0.17)	0.33	(0.22)	0.66

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