Fidelity Flex Correlations

FUEMX Fund

USD 10.04 0.01 0.1%

The current 90-days correlation between Fidelity Flex Servative and Hennessy Nerstone Mid is -0.12 (i.e., Good diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Significant diversification

The correlation between Fidelity Flex Servative and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Flex Servative 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 Flex Servative. 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 population.

Moving together with Fidelity Mutual Fund

0.72	FPURX	Fidelity Puritan	Pair Corr
0.76	FPUKX	Fidelity Puritan	Pair Corr
0.61	FQLSX	Fidelity Flex Freedom	Pair Corr
0.65	FRAGX	Aggressive Growth	Pair Corr
0.61	FRGAX	Growth Allocation Index	Pair Corr
0.78	FRPCX	Fidelity Sai Alternative	Pair Corr
0.61	FAAIX	Fidelity Asset Manager	Pair Corr
0.79	FACVX	Fidelity Vertible	Pair Corr
0.77	FACPX	Fidelity Advisor Sumer	Pair Corr
0.7	FACNX	Fidelity Canada	Pair Corr
0.77	FACGX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.65	FQITX	Fidelity Salem Street	Pair Corr
0.59	FAERX	Fidelity Advisor Overseas	Pair Corr
0.46	FADCX	Fidelity Advisor Div	Pair Corr
0.45	FADIX	Fidelity Advisor Div	Pair Corr
0.42	FACTX	Fidelity Advisor Health	Pair Corr
0.39	FACDX	Fidelity Advisor Health	Pair Corr

Related Correlations Analysis

	HFMDX	LRSOX	RSPMX	UMPSX	UAPIX	RYPNX
HFMDX		0.87	0.88	0.97	0.94	0.87	HFMDX
LRSOX	0.87		0.99	0.93	0.93	0.98	LRSOX
RSPMX	0.88	0.99		0.93	0.93	0.98	RSPMX
UMPSX	0.97	0.93	0.93		0.99	0.92	UMPSX
UAPIX	0.94	0.93	0.93	0.99		0.92	UAPIX
RYPNX	0.87	0.98	0.98	0.92	0.92		RYPNX
	HFMDX	LRSOX	RSPMX	UMPSX	UAPIX	RYPNX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Flex 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 Flex'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
HFMDX	0.89	0.04	0.06	0.14	0.91	(1.06)	2.34	(1.07)	4.61
LRSOX	0.89	0.10	0.02	0.58	0.84	(1.05)	2.12	(1.46)	7.26
RSPMX	0.76	0.11	0.03	1.08	0.60	(0.99)	1.71	(1.21)	6.79
UMPSX	1.41	(0.02)	0.07	0.09	1.41	(1.54)	3.41	(2.41)	10.41
UAPIX	1.83	(0.06)	0.06	0.08	1.91	(2.01)	4.19	(3.28)	15.23
RYPNX	1.01	0.13	0.04	0.88	1.07	(1.17)	2.36	(1.62)	7.47

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