Projected Return Density against MarketAssuming 30 trading days horizon, the fund has beta cooficient of 1.42 suggesting as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are expected to be negative, Fidelity will likely underperform. In addition to that, Fidelity Fifty has alpha of 1.42 implying that it can potentially generate 1.42% excess return over S&P 500 after adjusting for the inherited market risk (beta). Assuming 30 trading days horizon, the coefficient of variation of Fidelity is 258.9. The daily returns are destributed with a variance of 0.66 and standard deviation of 0.81. The mean deviation of Fidelity Fifty is currently at 0.65. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.54
Actual Return VolatilityFidelity Fifty shows 0.81% volatility of returns over 30 trading days. S&P 500 shows 0.54% volatility of returns over 30 trading days.
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Fidelity Fifty has a volatility of 0.81 and is 1.5 times more volatile than S&P 500. 10% of all equities and portfolios are less risky than Fidelity. Compared with the overall equity markets, volatility of historical daily returns of Fidelity Fifty is lower than 10 (%) of all global equities and portfolios over the last 30 days. Use Fidelity Fifty to enhance returns of your portfolios. The fund experiences normal upward fluctuation. As market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, Fidelity will likely underperform.
Fidelity correlation with market
Fidelity Current Risk Indicators
Suggested Divercification Pairs