Consumer Finance Correlations

Mutual Funds . USA . 
Fund . Consumer Finance Portfolio
FSVLX Fund  USD 20.11  0.07  0.35%   
The current 90-days correlation between Consumer Finance Por and Banking Portfolio Banking is 0.75 (i.e., Poor diversification). The correlation of Consumer Finance 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.

Consumer Finance Correlation With Market

Very poor diversification

The correlation between Consumer Finance Portfolio and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Finance Portfolio 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 Consumer Finance Portfolio. 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 bureau of economic analysis.

Moving together with Consumer Mutual Fund

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.96FPURX Fidelity PuritanPairCorr
  0.96FPUKX Fidelity PuritanPairCorr
  0.67FPXTX Fidelity PennsylvaniaPairCorr
  0.96FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.9FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.97FRBDX Fidelity Freedom 2070PairCorr
  0.97FRBEX Fidelity Freedom 2070PairCorr
  0.97FRBHX Fidelity Freedom 2070PairCorr
  0.97FRBJX Fidelity Advisor FreedomPairCorr
  0.97FRBKX Fidelity Advisor FreedomPairCorr
  0.97FRBLX Fidelity Advisor FreedomPairCorr
  0.97FRBOX Fidelity Advisor FreedomPairCorr
  0.97FRBPX Fidelity Advisor FreedomPairCorr
  0.97FRBQX Fidelity Flex FreedomPairCorr
  0.97FRBUX Fidelity Freedom IndexPairCorr
  0.97FRBVX Fidelity Freedom IndexPairCorr
  0.97FRBWX Fidelity Freedom IndexPairCorr
  0.97FRBYX Fidelity Freedom BlendPairCorr
  0.97FRBZX Fidelity Freedom BlendPairCorr
  0.96FRAGX Aggressive GrowthPairCorr
  0.93FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.97FRCFX Fidelity Freedom BlendPairCorr
  0.97FRCHX Fidelity Freedom BlendPairCorr
  0.97FRCKX Fidelity Freedom BlendPairCorr
  0.97FRCLX Fidelity Freedom BlendPairCorr
  0.97FRCNX Fidelity Freedom BlendPairCorr
  0.97FRCPX Fidelity Freedom BlendPairCorr
  0.97FRCQX Fidelity SustainablePairCorr
  0.97FRCRX Fidelity SustainablePairCorr
  0.97FRCVX Fidelity SustainablePairCorr
  0.97FRCWX Fidelity SustainablePairCorr
  0.97FRCYX Fidelity SustainablePairCorr
  0.97FRDCX Fidelity SustainablePairCorr
  0.97FRDDX Fidelity SustainablePairCorr
  0.95FRDEX Fidelity SustainablePairCorr
  0.96FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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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   
FIDSX
+ 0.98
FSRBX
FSHOX
+ 0.97
FIDSX
FSHOX
+ 0.95
FSRBX
FSHOX
+ 0.94
FSAVX
FSAVX
+ 0.91
FIDSX
FSAVX
+ 0.86
FSRBX
  
High negative correlations   
FSPCX
- 0.0
FSRBX

Risk-Adjusted Indicators

There is a big difference between Consumer Mutual Fund performing well and Consumer Finance 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 Consumer Finance'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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