Fidelity Focused Correlations

Mutual Funds . USA . 
Fund . Fidelity Focused Stock
FTQGX Fund  USD 43.15  0.38  0.89%   
The current 90-days correlation between Fidelity Focused Stock and Fidelity Trend Fund is 0.93 (i.e., Almost no diversification). The correlation of Fidelity Focused 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 Focused Correlation With Market

Average diversification

The correlation between Fidelity Focused Stock and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Focused Stock 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 Focused Stock. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Fidelity Mutual Fund

  0.98FAFGX American FundsPairCorr
  0.98FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  0.98CGFFX Growth FundPairCorr
  0.98CGFCX Growth FundPairCorr
  0.98CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.85FTCAX Templeton Strained BondPairCorr
  0.86PYAIX Payden Absolute ReturnPairCorr
  0.85PYARX Payden Absolute ReturnPairCorr
  0.87BCAAX Brandywineglobal CPairCorr
  0.62DIS Walt Disney Sell-off TrendPairCorr
  0.82CSCO Cisco Systems Sell-off TrendPairCorr
  0.72HPQ HP IncPairCorr
  0.65WMT Walmart Aggressive PushPairCorr
  0.64JPM JPMorgan Chase Sell-off TrendPairCorr
  0.76INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.77CVX Chevron Corp Sell-off TrendPairCorr
  0.7XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.68BAC Bank of America Aggressive PushPairCorr

Moving against Fidelity Mutual Fund

  0.98USPSX Profunds UltrashortPairCorr
  0.98USPIX Profunds UltrashortPairCorr
  0.91UIPIX Ultrashort Mid CapPairCorr
  0.68JNJ Johnson Johnson Sell-off TrendPairCorr
  0.62KO Coca Cola Aggressive PushPairCorr
  0.5PFE Pfizer Inc Aggressive PushPairCorr
  0.33PG Procter Gamble Sell-off TrendPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Focused 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 Focused'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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