Fidelity Blue Correlations

Etfs . USA . 
Etf . Fidelity Blue Chip
FBCG Etf  USD 46.01  0.38  0.83%   
The current 90-days correlation between Fidelity Blue Chip and Vanguard Growth Index is 0.98 (i.e., Almost no diversification). The correlation of Fidelity Blue 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 Blue Correlation With Market

Poor diversification

The correlation between Fidelity Blue Chip and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Blue Chip 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 Blue Chip. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Fidelity Etf

  1.0VUG Vanguard Growth IndexPairCorr
  1.0IWF iShares Russell 1000PairCorr
  1.0IVW iShares SP 500PairCorr
  1.0SPYG SPDR Portfolio SPPairCorr
  1.0IUSG iShares Core SPPairCorr
  1.0VONG Vanguard Russell 1000PairCorr
  1.0MGK Vanguard Mega CapPairCorr
  1.0VRGWX Vanguard Russell 1000PairCorr
  0.99QQQM Invesco NASDAQ 100PairCorr
  0.99IWY iShares Russell TopPairCorr
  0.96DLN WisdomTree LargeCapPairCorr
  0.99VTI Vanguard Total StockPairCorr
  0.91PSP Invesco Global ListedPairCorr
  0.96CSCO Cisco Systems Sell-off TrendPairCorr
  0.79TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.77T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.83WMT Walmart Aggressive PushPairCorr
  0.84CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.92AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.9INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.78DIS Walt Disney Sell-off TrendPairCorr
  0.86BAC Bank of America Aggressive PushPairCorr
  0.94AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against Fidelity Etf

  0.42VPL Vanguard FTSE PacificPairCorr
  0.86MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.83JNJ Johnson Johnson Sell-off TrendPairCorr
  0.82KO Coca Cola Aggressive PushPairCorr
  0.67BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.67PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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Fidelity Blue Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Blue 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 Blue'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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