Fidelity Large Correlations

FLCOX Fund

USD 19.75 0.01 0.05%

The current 90-days correlation between Fidelity Large Cap and Oakmark International Fund is 0.26 (i.e., Modest diversification). The correlation of Fidelity Large 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.

Fidelity Large Correlation With Market

Almost no diversification

The correlation between Fidelity Large Cap and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Large Cap 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 Large Cap. 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 persons.

Moving together with Fidelity Mutual Fund

0.96	FPURX	Fidelity Puritan	Pair Corr
0.96	FPUKX	Fidelity Puritan	Pair Corr
0.83	FQIPX	Fidelity Freedom Index	Pair Corr
0.82	FQLSX	Fidelity Flex Freedom	Pair Corr
0.91	FRAGX	Aggressive Growth	Pair Corr
0.88	FRGAX	Growth Allocation Index	Pair Corr
0.83	FRLPX	Fidelity Freedom Index	Pair Corr
0.73	FRPCX	Fidelity Sai Alternative	Pair Corr
0.83	FAASX	Fidelity Asset Manager	Pair Corr
0.83	FAAIX	Fidelity Asset Manager	Pair Corr
0.75	FABLX	Fidelity Advisor Balanced	Pair Corr
0.74	FABCX	Fidelity Advisor Balanced	Pair Corr
0.96	FACVX	Fidelity Convertible	Pair Corr
0.91	FACPX	Fidelity Advisor Sumer	Pair Corr
0.9	FACNX	Fidelity Canada	Pair Corr
0.91	FACGX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.6	FQITX	Fidelity Salem Street	Pair Corr
0.5	FAERX	Fidelity Advisor Overseas	Pair Corr
0.35	FADCX	Fidelity Advisor Div	Pair Corr
0.34	FADIX	Fidelity Advisor Div	Pair Corr

Related Correlations Analysis

	OAKIX	ICMAX	444859BR2	AQUI	BRRAY	LBHIX	MSTSX	ABHYX	SCAXF	VIASP
OAKIX		0.25	0.36	0.0	-0.36	-0.15	0.28	0.25	0.75	-0.8	OAKIX
ICMAX	0.25		-0.13	0.0	-0.39	0.1	0.39	-0.02	0.07	-0.11	ICMAX
444859BR2	0.36	-0.13		0.0	0.31	-0.54	-0.45	-0.03	0.46	-0.46	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.36	-0.39	0.31	0.0		-0.35	-0.45	-0.37	-0.06	0.12	BRRAY
LBHIX	-0.15	0.1	-0.54	0.0	-0.35		0.68	0.56	-0.35	0.26	LBHIX
MSTSX	0.28	0.39	-0.45	0.0	-0.45	0.68		0.27	-0.04	-0.05	MSTSX
ABHYX	0.25	-0.02	-0.03	0.0	-0.37	0.56	0.27		-0.1	-0.12	ABHYX
SCAXF	0.75	0.07	0.46	0.0	-0.06	-0.35	-0.04	-0.1		-0.82	SCAXF
VIASP	-0.8	-0.11	-0.46	0.0	0.12	0.26	-0.05	-0.12	-0.82		VIASP
	OAKIX	ICMAX	444859BR2	AQUI	BRRAY	LBHIX	MSTSX	ABHYX	SCAXF	VIASP

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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

SCAXF	+ 0.75	OAKIX
MSTSX	+ 0.68	LBHIX
ABHYX	+ 0.56	LBHIX
SCAXF	+ 0.46	444859BR2
MSTSX	+ 0.39	ICMAX
444859BR2	+ 0.36	OAKIX

High negative correlations

VIASP	- 0.82	SCAXF
VIASP	- 0.8	OAKIX
LBHIX	- 0.54	444859BR2
VIASP	- 0.46	444859BR2
MSTSX	- 0.45	BRRAY
MSTSX	- 0.45	444859BR2

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Large 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 Fidelity Large'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
OAKIX	0.81	(0.13)	0.00	(0.29)	0.00	0.00	1.62	(1.62)	6.00
ICMAX	0.65	(0.06)	0.00	(0.13)	0.00	0.00	1.52	(1.35)	3.42
444859BR2	1.36	(0.08)	0.00	(0.21)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.10)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
ABHYX	0.18	0.03	(0.22)	(0.11)	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.37)	0.00	(33.24)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.08	(0.03)	(1.87)	1.12	(0.82)	2.28	(1.20)	7.18

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