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Benchmark  United States  NYSE  11,025   20.008 Index Moved Up 0.18%  


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Correlation analysis between Fidelity and Fidelity

   
Investment horizon:  
  30 Days    Login   to change
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 and Fidelity 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 with a short position of Fidelity. Please also check ongoing floating volatility patterns of Fidelity and Fidelity.
 
 Fidelity Contrafund  vs   Fidelity Contrafund K
Daily Returns (%)
FCNKX   FCNTX   
 
Change Benchmark  Embed  Timeline 
Assuming 30 trading days horizon, Fidelity Contrafund is expected to generate 1.02 times more return on investment than Fidelity. However, Fidelity is 1.02 times more volatile than Fidelity Contrafund K. It trades about 0.16 of its potential returns per unit of risk. Fidelity Contrafund K is currently generating about 0.15 per unit of risk. If you would invest  9,997  in Fidelity Contrafund on July 28, 2014 and sell it today you would earn a total of  232.00  from holding Fidelity Contrafund or generate 2.32% return on investment over 30 days.

Correlation Coefficient

1.0
Parameters
Time Period1 Month [change]
DirectionPositive FCNKX Moved Up vs FCNTX
StrengthVery Strong
Accuracy95.65%
ValuesDaily Returns

Diversification

No risk reduction
Overlapping area represents 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
Investing ideals could easily outperform a given market if properly optimized
  
Fidelity Report  
  
Fidelity Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
FCNKX   FCNTX   

Fidelity Contrafund

  
Compared with the overall equity markets, risk-adjusted returns on investments in Fidelity Contrafund are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Fidelity

American Funds Growth Fund of Amer F1 vs. Fidelity Contrafund
American Funds Growth Fund of Amer R1 vs. Fidelity Contrafund
  

Fidelity Contrafund K

  
Compared with the overall equity markets, risk-adjusted returns on investments in Fidelity Contrafund K are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Fidelity

American Funds Growth Fund of Amer F1 vs. Fidelity Contrafund K
American Funds Growth Fund of Amer R1 vs. Fidelity Contrafund K


 
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