This module allows you to analyze existing cross correlation between Fidelity Contrafund and Fidelity Contrafund K. You can compare the effects of market volatilities on Fidelity Contrafund and Fidelity Contrafund and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fidelity Contrafund with a short position of Fidelity Contrafund. See also your portfolio center
. Please also check ongoing floating volatility patterns of Fidelity Contrafund
and Fidelity Contrafund
Fidelity Contrafund vs Fidelity Contrafund K
Assuming 30 trading days horizon, Fidelity Contrafund is expected to generate 1.03 times more return on investment than Fidelity Contrafund. However, Fidelity Contrafund is 1.03 times more volatile than Fidelity Contrafund K. It trades about 0.32 of its potential returns per unit of risk. Fidelity Contrafund K is currently generating about 0.31 per unit of risk. If you would invest 10,665 in Fidelity Contrafund on March 27, 2017 and sell it today you would earn a total of 372.00 from holding Fidelity Contrafund or generate 3.49% return on investment over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Contrafund and Fidelity Contrafund K in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Contrafund K and Fidelity Contrafund is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fidelity Contrafund are associated (or correlated) with Fidelity Contrafund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Contrafund K has no effect on the direction of Fidelity Contrafund i.e. Fidelity Contrafund and Fidelity Contrafund go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Fidelity Contrafund are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Fidelity Contrafund K are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.