Fidelity Puritan Correlations

Mutual Funds . USA . 
Fund . Fidelity Puritan Fund
FPURX Fund  USD 26.96  0.10  0.37%   
The current 90-days correlation between Fidelity Puritan and Fidelity Balanced Fund is 0.99 (i.e., No risk reduction). The correlation of Fidelity Puritan 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 Puritan Correlation With Market

Poor diversification

The correlation between Fidelity Puritan Fund and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Puritan Fund 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 Puritan Fund. 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

  0.82FPTKX Fidelity Freedom 2015PairCorr
  1.0FPUKX Fidelity PuritanPairCorr
  0.87FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.88FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.97FRAGX Aggressive GrowthPairCorr
  0.69FRAMX Fidelity Income ReplPairCorr
  0.76FRASX Fidelity Income ReplPairCorr
  0.94FRGAX Growth Allocation IndexPairCorr
  0.69FRIMX Fidelity Income ReplPairCorr
  0.65FRHMX Fidelity Managed RetPairCorr
  0.69FRKMX Fidelity Managed RetPairCorr
  0.97FRLPX Fidelity Freedom IndexPairCorr
  0.7FRQHX Fidelity Managed RetPairCorr
  0.7FRQIX Fidelity Income ReplPairCorr
  0.7FRQKX Fidelity Managed RetPairCorr
  0.71FRQAX Fidelity Income ReplPairCorr
  0.97FAASX Fidelity Asset ManagerPairCorr
  0.97FAAIX Fidelity Asset ManagerPairCorr
  0.98FABLX Fidelity Advisor BalancedPairCorr
  0.98FABCX Fidelity Advisor BalancedPairCorr
  0.9FACVX Fidelity ConvertiblePairCorr
  0.63FACTX Fidelity Advisor HealthPairCorr
  0.94FACPX Fidelity Advisor SumerPairCorr
  0.86FACNX Fidelity CanadaPairCorr
  0.95FACGX Fidelity Advisor GrowthPairCorr
  0.75FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.67FRPDX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Puritan 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 Puritan'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY