Fidelity MSCI Correlations
FSTA Etf | USD 51.45 0.40 0.78% |
The current 90-days correlation between Fidelity MSCI Consumer and Fidelity MSCI Utilities is 0.68 (i.e., Poor diversification). The correlation of Fidelity MSCI 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.
Fidelity MSCI Correlation With Market
Very weak diversification
The correlation between Fidelity MSCI Consumer and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Consumer and DJI in the same portfolio, assuming nothing else is changed.
Fidelity | Build AI portfolio with Fidelity Etf |
Moving together with Fidelity Etf
0.98 | XLP | Consumer Staples Select | PairCorr |
1.0 | VDC | Vanguard Consumer Staples | PairCorr |
0.8 | IYK | iShares Consumer Staples | PairCorr |
0.91 | KXI | iShares Global Consumer | PairCorr |
0.65 | PBJ | Invesco Dynamic Food | PairCorr |
0.78 | PSL | Invesco DWA Consumer | PairCorr |
Related Correlations Analysis
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Fidelity MSCI Constituents Risk-Adjusted Indicators
There is a big difference between Fidelity Etf performing well and Fidelity MSCI ETF 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 MSCI'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
FUTY | 0.69 | 0.07 | (0.02) | 0.30 | 0.89 | 1.43 | 4.54 | |||
FIDU | 0.70 | 0.15 | 0.16 | 0.33 | 0.36 | 1.95 | 5.09 | |||
FMAT | 0.77 | 0.07 | 0.05 | 0.25 | 0.71 | 2.18 | 4.29 | |||
FDIS | 0.98 | 0.13 | 0.14 | 0.28 | 0.87 | 2.37 | 7.56 | |||
FCOM | 0.82 | 0.32 | 0.15 | (3.57) | 0.50 | 1.98 | 4.23 |