Fidelity Asset Correlations

FTCWX Fund  USD 13.32  0.01  0.08%   
The correlation of Fidelity Asset 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 Asset moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Asset Manager 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.

Very poor diversification

The correlation between FIDELITY ASSET MANAGER and NYA is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FIDELITY ASSET MANAGER and NYA 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 Asset Manager. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in housing.
  
The ability to find closely correlated positions to Fidelity Asset 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 Asset 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 Asset - 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 Asset Manager to buy it.

Moving together with Fidelity Mutual Fund

  1.0FASIX Fidelity Asset ManagerPairCorr
  1.0FTIWX Fidelity Asset ManagerPairCorr
  1.0FTDWX Fidelity Asset ManagerPairCorr
  1.0FTAWX Fidelity Asset ManagerPairCorr
  1.0FIKVX Fidelity Asset ManagerPairCorr
  0.96VASIX Vanguard LifestrategyPairCorr
  0.87FACRX American Funds CollegePairCorr
  0.88FTTTX American Funds CollegePairCorr
  1.0PFIPX Strategic Asset ManaPairCorr
  0.81DXQLX Direxion Monthly NasPairCorr
  0.8RYVLX Nasdaq-100 2x StrategyPairCorr
  0.8RYVYX Nasdaq-100 2x StrategyPairCorr
  0.81UOPIX Ultra Nasdaq-100 ProfundsPairCorr
  0.8RYCCX Nasdaq-100 2x StrategyPairCorr
  0.8UOPSX Ultranasdaq-100 ProfundPairCorr
  0.77INPIX Internet UltrasectorPairCorr
  0.76INPSX Internet UltrasectorPairCorr

Related Correlations Analysis

RGFIX
VFAIX
MSVIX
SFPAX
FIKBX
ICFAX
RPFGX
BTO
RGFIX
0.960.810.950.930.950.92-0.5
RGFIX
VFAIX
0.960.81.00.980.980.98-0.52
VFAIX
MSVIX
0.810.80.820.870.730.85-0.18
MSVIX
SFPAX
0.951.00.820.990.970.98-0.51
SFPAX
FIKBX
0.930.980.870.990.930.99-0.4
FIKBX
ICFAX
0.950.980.730.970.930.92-0.63
ICFAX
RPFGX
0.920.980.850.980.990.92-0.4
RPFGX
BTO
-0.5-0.52-0.18-0.51-0.4-0.63-0.4
BTO
RGFIX
VFAIX
MSVIX
SFPAX
FIKBX
ICFAX
RPFGX
BTO
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
SFPAXVFAIX
FIKBXSFPAX
RPFGXFIKBX
FIKBXVFAIX
ICFAXVFAIX
RPFGXVFAIX
  
High negative correlations   
BTOICFAX
BTOVFAIX
BTOSFPAX
BTORGFIX
BTORPFGX
BTOFIKBX

Risk-Adjusted Indicators

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

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fidelity Asset without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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The danger of trading Fidelity Asset Manager is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Fidelity Asset is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Fidelity Asset. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Fidelity Asset Manager is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Asset Manager. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in housing.
You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.

Complementary Tools for Fidelity Mutual Fund analysis

When running Fidelity Asset's price analysis, check to measure Fidelity Asset's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Fidelity Asset is operating at the current time. Most of Fidelity Asset's value examination focuses on studying past and present price action to predict the probability of Fidelity Asset's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fidelity Asset's price. Additionally, you may evaluate how the addition of Fidelity Asset to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between Fidelity Asset's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Asset is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Asset's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.