FIDELITY Correlations

31620MAU0

83.86 0.00 0.00%

The current 90-days correlation between FIDELITY NATL INFORMATION and AEP TEX INC is 0.15 (i.e., Average diversification). The correlation of FIDELITY 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 Correlation With Market

Average diversification

The correlation between FIDELITY NATL INFORMATION and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FIDELITY NATL INFORMATION and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to FIDELITY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FIDELITY when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back FIDELITY - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling FIDELITY NATL INFORMATION to buy it.

Moving together with FIDELITY Bond

0.62

MCD

McDonalds

Pair Corr

Moving against FIDELITY Bond

0.57	CVX	Chevron Corp	Pair Corr
0.56	DIS	Walt Disney	Pair Corr
0.56	CSCO	Cisco Systems	Pair Corr
0.53	MSFT	Microsoft Aggressive Push	Pair Corr
0.53	XOM	Exxon Mobil Corp	Pair Corr
0.51	AXP	American Express	Pair Corr
0.49	CAT	Caterpillar	Pair Corr
0.44	LTRY	Lottery, Common Stock	Pair Corr
0.42	BA	Boeing Earnings Call Next Week	Pair Corr
0.41	DD	Dupont De Nemours Earnings Call Next Week	Pair Corr
0.36	MMM	3M Company	Pair Corr
0.36	INTC	Intel Earnings Call This Week	Pair Corr
0.33	MRK	Merck Company Earnings Call Next Week	Pair Corr

Related Correlations Analysis

	00108WAF7	DAVE	NKE	46143NAB6	SMCI	HUABF	BA-PA	MS	XTNT
00108WAF7		0.25	0.49	-0.25	0.46	0.38	0.32	0.41	0.03	00108WAF7
DAVE	0.25		0.76	0.16	0.83	0.27	0.82	0.92	0.86	DAVE
NKE	0.49	0.76		0.06	0.85	0.24	0.82	0.88	0.6	NKE
46143NAB6	-0.25	0.16	0.06		0.14	-0.07	0.13	0.12	0.36	46143NAB6
SMCI	0.46	0.83	0.85	0.14		0.37	0.86	0.93	0.72	SMCI
HUABF	0.38	0.27	0.24	-0.07	0.37		0.12	0.17	0.28	HUABF
BA-PA	0.32	0.82	0.82	0.13	0.86	0.12		0.91	0.78	BA-PA
MS	0.41	0.92	0.88	0.12	0.93	0.17	0.91		0.77	MS
XTNT	0.03	0.86	0.6	0.36	0.72	0.28	0.78	0.77		XTNT
	00108WAF7	DAVE	NKE	46143NAB6	SMCI	HUABF	BA-PA	MS	XTNT

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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

MS	+ 0.93	SMCI
MS	+ 0.92	DAVE
MS	+ 0.91	BA-PA
MS	+ 0.88	NKE
XTNT	+ 0.86	DAVE
BA-PA	+ 0.86	SMCI

High negative correlations

46143NAB6	- 0.25	00108WAF7
HUABF	- 0.07	46143NAB6

Risk-Adjusted Indicators

There is a big difference between FIDELITY Bond performing well and FIDELITY Corporate Bond 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'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
00108WAF7	1.32	0.13	0.00	(8.26)	1.91	(1.27)	2.76	(3.25)	11.60
DAVE	4.05	1.35	0.29	0.70	4.04	(4.57)	7.52	(6.34)	54.24
NKE	1.85	0.24	0.17	0.29	1.51	(2.28)	4.12	(3.07)	18.60
46143NAB6	0.86	(0.03)	(0.10)	(0.03)	1.23	(1.06)	2.28	(1.60)	8.43
SMCI	3.62	0.63	0.15	0.66	3.83	(4.07)	8.80	(6.35)	25.80
HUABF	3.05	0.66	0.00	(0.26)	0.00	0.00	17.39	(11.54)	37.04
BA-PA	1.25	0.38	0.20	0.79	1.03	(1.33)	3.29	(2.10)	9.45
MS	1.06	0.25	0.21	0.35	0.85	(1.21)	2.93	(1.84)	7.37
XTNT	4.10	0.86	0.16	(2.42)	3.72	(5.33)	9.09	(6.45)	23.91

Be your own money manager

Our tools can tell you how much better you can do entering a position in FIDELITY without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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