Fidelity Extended Correlations

Mutual Funds . USA . 
Fund . Fidelity Extended Market
FSMAX Fund  USD 95.57  1.10  1.16%   
The current 90-days correlation between Fidelity Extended Market and Fidelity International Index is -0.04 (i.e., Good diversification). The correlation of Fidelity Extended 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 Extended Correlation With Market

Good diversification

The correlation between Fidelity Extended Market and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Extended Market 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 Extended Market. 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 nation.

Moving together with Fidelity Mutual Fund

  0.83FPTKX Fidelity Freedom 2015PairCorr
  0.84FPURX Fidelity PuritanPairCorr
  0.84FPUKX Fidelity PuritanPairCorr
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.83FQIFX Fidelity Freedom IndexPairCorr
  0.84FQIPX Fidelity Freedom IndexPairCorr
  0.72FQITX Fidelity Salem StreetPairCorr
  0.84FQLSX Fidelity Flex FreedomPairCorr
  0.84FRBDX Fidelity Freedom 2070PairCorr
  0.84FRBEX Fidelity Freedom 2070PairCorr
  0.99FRBHX Fidelity Freedom 2070PairCorr
  0.84FRBJX Fidelity Advisor FreedomPairCorr
  0.99FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBLX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBUX Fidelity Freedom IndexPairCorr
  0.71FRBVX Fidelity Freedom IndexPairCorr
  0.99FRBWX Fidelity Freedom IndexPairCorr
  0.99FRBYX Fidelity Freedom BlendPairCorr
  0.99FRBZX Fidelity Freedom BlendPairCorr
  0.84FRAGX Aggressive GrowthPairCorr
  0.8FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  0.71FRCFX Fidelity Freedom BlendPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCLX Fidelity Freedom BlendPairCorr
  0.72FRCPX Fidelity Freedom BlendPairCorr
  0.99FRCQX Fidelity SustainablePairCorr
  0.99FRCRX Fidelity SustainablePairCorr
  0.71FRCVX Fidelity SustainablePairCorr
  0.99FRCWX Fidelity SustainablePairCorr
  0.99FRCYX Fidelity SustainablePairCorr
  0.99FRDCX Fidelity SustainablePairCorr
  0.99FRDDX Fidelity SustainablePairCorr
  0.84FRDEX Fidelity SustainablePairCorr
  0.84FRGAX Growth Allocation IndexPairCorr
  0.62FRESX Fidelity Real EstatePairCorr
  0.74FRIFX Fidelity Real EstatePairCorr
  0.94FRIMX Fidelity Income ReplPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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