Fidelity Large Correlations

Mutual Funds . USA . 
Fund . Fidelity Large Cap
FSPGX Fund  USD 42.51  0.01  0.02%   
The current 90-days correlation between Fidelity Large Cap and Fidelity Large Cap is -0.11 (i.e., Good diversification). The correlation of Fidelity Large 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 Large Correlation With Market

Poor diversification

The correlation between Fidelity Large Cap and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Large Cap 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 Large Cap. 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

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.99FPURX Fidelity PuritanPairCorr
  0.99FPUKX Fidelity PuritanPairCorr
  0.62FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.82FQITX Fidelity Salem StreetPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  1.0FRBDX Fidelity Freedom 2070PairCorr
  1.0FRBEX Fidelity Freedom 2070PairCorr
  0.84FRBHX Fidelity Freedom 2070PairCorr
  1.0FRBJX Fidelity Advisor FreedomPairCorr
  0.84FRBKX Fidelity Advisor FreedomPairCorr
  0.84FRBLX Fidelity Advisor FreedomPairCorr
  0.64FRBOX Fidelity Advisor FreedomPairCorr
  0.84FRBPX Fidelity Advisor FreedomPairCorr
  0.84FRBQX Fidelity Flex FreedomPairCorr
  0.84FRBUX Fidelity Freedom IndexPairCorr
  0.63FRBVX Fidelity Freedom IndexPairCorr
  0.84FRBWX Fidelity Freedom IndexPairCorr
  0.84FRBYX Fidelity Freedom BlendPairCorr
  0.84FRBZX Fidelity Freedom BlendPairCorr
  1.0FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.81FRASX Fidelity Income ReplPairCorr
  0.63FRCFX Fidelity Freedom BlendPairCorr
  0.84FRCHX Fidelity Freedom BlendPairCorr
  0.63FRCKX Fidelity Freedom BlendPairCorr
  0.84FRCLX Fidelity Freedom BlendPairCorr
  0.64FRCNX Fidelity Freedom BlendPairCorr
  0.64FRCPX Fidelity Freedom BlendPairCorr
  0.84FRCQX Fidelity SustainablePairCorr
  0.84FRCRX Fidelity SustainablePairCorr
  0.63FRCVX Fidelity SustainablePairCorr
  0.84FRCWX Fidelity SustainablePairCorr
  0.83FRCYX Fidelity SustainablePairCorr
  0.83FRDCX Fidelity SustainablePairCorr
  0.84FRDDX Fidelity SustainablePairCorr
  1.0FRDEX Fidelity SustainablePairCorr
  1.0FRGAX 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 Large 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 Large'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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