Correlation Between Fidelity ClearPath and Accelerate Arbitrage

Can any of the company-specific risk be diversified away by investing in both Fidelity ClearPath and Accelerate Arbitrage at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fidelity ClearPath and Accelerate Arbitrage into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Fidelity ClearPath 2045 and Accelerate Arbitrage, you can compare the effects of market volatilities on Fidelity ClearPath and Accelerate Arbitrage and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fidelity ClearPath with a short position of Accelerate Arbitrage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity ClearPath and Accelerate Arbitrage.

Diversification Opportunities for Fidelity ClearPath and Accelerate Arbitrage

0.0

Correlation Coefficient

Fidelity ClearPath  Accelerate Arbitrage

Pay attention - limited upside

The 3 months correlation between Fidelity and Accelerate is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity ClearPath 2045 and Accelerate Arbitrage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Accelerate Arbitrage and Fidelity ClearPath is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fidelity ClearPath 2045 are associated (or correlated) with Accelerate Arbitrage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Accelerate Arbitrage has no effect on the direction of Fidelity ClearPath i.e., Fidelity ClearPath and Accelerate Arbitrage go up and down completely randomly.

Pair Corralation between Fidelity ClearPath and Accelerate Arbitrage

If you would invest  2,521  in Fidelity ClearPath 2045 on April 23, 2025 and sell it today you would earn a total of  316.00  from holding Fidelity ClearPath 2045 or generate 12.53% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Fidelity ClearPath 2045  vs.  Accelerate Arbitrage

Fidelity ClearPath 2045

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Fidelity ClearPath 2045 are ranked lower than 25 (%) of all funds and portfolios of funds over the last 90 days. Despite somewhat weak basic indicators, Fidelity ClearPath may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Accelerate Arbitrage

Risk-Adjusted Performance

Good

Over the last 90 days Accelerate Arbitrage has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy fundamental drivers, Accelerate Arbitrage is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Fidelity ClearPath and Accelerate Arbitrage

The main advantage of trading using opposite Fidelity ClearPath and Accelerate Arbitrage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity ClearPath position performs unexpectedly, Accelerate Arbitrage can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Accelerate Arbitrage will offset losses from the drop in Accelerate Arbitrage's long position.

The idea behind Fidelity ClearPath 2045 and Accelerate Arbitrage pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.