Fidelity Small Correlations

Mutual Funds . USA . 
Fund . Fidelity Small Cap
FSSNX Fund  USD 29.79  0.81  2.80%   
The current 90-days correlation between Fidelity Small Cap and Janus Research Fund is 0.69 (i.e., Poor diversification). The correlation of Fidelity Small 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 Small Correlation With Market

Good diversification

The correlation between Fidelity Small Cap and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Small 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 Small 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 state.

Moving together with Fidelity Mutual Fund

  0.82FPTKX Fidelity Freedom 2015PairCorr
  0.62FPUKX Fidelity PuritanPairCorr
  0.62FPXTX Fidelity PennsylvaniaPairCorr
  0.75FQIFX Fidelity Freedom IndexPairCorr
  0.7FQIPX Fidelity Freedom Index Potential GrowthPairCorr
  0.85FQITX Fidelity Salem StreetPairCorr
  0.8FQLSX Fidelity Flex FreedomPairCorr
  0.69FRBDX Fidelity Freedom 2070PairCorr
  0.69FRBEX Fidelity Freedom 2070PairCorr
  0.69FRBHX Fidelity Freedom 2070PairCorr
  0.86FRBJX Fidelity Advisor FreedomPairCorr
  0.72FRBKX Fidelity Advisor Freedom Potential GrowthPairCorr
  0.64FRBLX Fidelity Advisor FreedomPairCorr
  0.72FRBOX Fidelity Advisor FreedomPairCorr
  0.64FRBPX Fidelity Advisor FreedomPairCorr
  0.7FRBQX Fidelity Flex FreedomPairCorr
  0.7FRBUX Fidelity Freedom IndexPairCorr
  0.7FRBVX Fidelity Freedom IndexPairCorr
  0.7FRBWX Fidelity Freedom IndexPairCorr
  0.84FRBYX Fidelity Freedom BlendPairCorr
  0.71FRBZX Fidelity Freedom BlendPairCorr
  0.84FRAGX Aggressive GrowthPairCorr
  0.75FRAMX Fidelity Income ReplPairCorr
  0.83FRASX Fidelity Income ReplPairCorr
  0.7FRCFX Fidelity Freedom BlendPairCorr
  0.71FRCHX Fidelity Freedom BlendPairCorr
  0.71FRCKX Fidelity Freedom BlendPairCorr
  0.7FRCLX Fidelity Freedom BlendPairCorr
  0.84FRCNX Fidelity Freedom BlendPairCorr
  0.7FRCPX Fidelity Freedom BlendPairCorr
  0.68FRCQX Fidelity SustainablePairCorr
  0.81FRCRX Fidelity SustainablePairCorr
  0.68FRCVX Fidelity SustainablePairCorr
  0.68FRCWX Fidelity SustainablePairCorr
  0.69FRCYX Fidelity SustainablePairCorr
  0.82FRDCX Fidelity SustainablePairCorr
  0.81FRDDX Fidelity SustainablePairCorr
  0.68FRDEX Fidelity SustainablePairCorr
  0.84FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Small 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 Small'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
JRASX  0.72  0.02 (0.02)(0.63) 1.06 
(0.68)
 1.34 
(1.64)
 4.43 
JRACX  0.70  0.04  0.00  0.64  0.98 
(0.68)
 1.34 
(1.47)
 4.44 
JRANX  0.73  0.03 (0.02)(0.71) 1.05 
(0.68)
 1.34 
(1.65)
 4.44 
JNRFX  0.72  0.03 (0.02)(0.69) 1.06 
(0.68)
 1.33 
(1.64)
 4.43 
JRAIX  0.72  0.03 (0.02)(0.70) 1.06 
(0.68)
 1.33 
(1.65)
 4.43 
HCAIX  0.75  0.04  0.00  0.46  1.11 
(0.72)
 1.57 
(1.82)
 5.03 
FRDAX  0.49 (0.03) 0.00 (2.40) 0.00 
 0.00 
 0.85 
(0.93)
 3.23 
PRBLX  0.55 (0.01) 0.00  0.15  0.00 
 0.00 
 1.11 
(1.22)
 3.51 
FRDPX  0.47 (0.01) 0.00  0.17  0.00 
 0.00 
 0.85 
(0.82)
 3.23 
FDTRX  0.94  0.01 (0.02)(0.10) 1.43 
(0.85)
 1.88 
(2.47)
 5.91 

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