Fidelity Advantage Total Revenue from 2010 to 2024
| FETH Etf | 75.02 0.94 1.27% |
Check Fidelity Advantage financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Fidelity Advantage's main balance sheet or income statement drivers, such as , as well as many indicators such as . Fidelity financial statements analysis is a perfect complement when working with Fidelity Advantage Valuation or Volatility modules.
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Pair Trading with Fidelity Advantage
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Fidelity Advantage position performs unexpectedly, the other equity 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 Fidelity Advantage will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 0.82 | BTCQ | 3iQ Bitcoin ETF | PairCorr |
| 0.96 | BTCC | Purpose Bitcoin CAD | PairCorr |
| 0.87 | ETHQ | 3iQ CoinShares Ether | PairCorr |
Moving against Fidelity Etf
| 0.8 | HUV | BetaPro SP 500 | PairCorr |
| 0.79 | BITI | BetaPro Inverse Bitcoin | PairCorr |
| 0.58 | RIT | CI Canadian REIT | PairCorr |
The ability to find closely correlated positions to Fidelity Advantage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fidelity Advantage when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fidelity Advantage - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fidelity Advantage Ether to buy it.
The correlation of Fidelity Advantage 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Advantage moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Advantage Ether moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Fidelity Advantage can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of Fidelity Advantage Correlation against competitors. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.