Fidelity Nasdaq Composite Index Tracking Stock (ONEQ)
Fidelity Nasdaq Composite Index Tracking Stock Beta: 1.120
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ONEQ Beta Range, Past 5 Years
| Minimum | 1.111 | Nov 2011 |
| Maximum | 1.394 | Jan 2008 |
| Average | 1.205 |
About Beta 60 Month
YCharts calculates the 60 month market beta by regressing stock returns less the risk free rate of returns on the market returns less the risk free rate of return (Market returns come from the S&P 500 Total Returns Index (SPXTR), and the risk free rate is the 4 Week Average T-Bill (Monthly). There must be a minimum of 36 months of stock returns for a company to have its beta calculated.
Beta is a measure of the risk of a stock when it is included in a well-diversified portfolio.
In financial theory, the Capital Asset Pricing Model breaks down expected stock returns into two components. The first is the return that would be expected based on covariance with the movements of the market (for most stocks, when the market as a whole goes up, the price of the stock will also go up). The second part is the increase in the price of a stock that is not explained by the market. The first part - covariance with the market - is what Beta captures.
When Beta is positive, the stock price tends to move in the same direction as the market, and the magnitude of Beta tells by how much. If a stock's Beta is greater than 1, that means that when the market index goes up 1%, we expect the stock will go up by more than 1%. On the contrary, if the market goes down by 1%, we expect the stock to go down by more than 1%. Negative Betas, while rare, signify a negative correlation. When the market goes up, we would expect the stock price to go down.
For readers with a background in regression analysis, Beta is the slope of the linear regression shown in the formula below, where Returns are the return on an individual stock or portfolio, Rf is the risk free rate, RMarket is the return on a market portfolio, and e is an error term.
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ONEQ News
Mar 15, 5:46PM Business Wire
Mar 05, 4:17PM Business Wire
Dec 15, 5:15PM Business Wire
Dec 05, 5:11PM Business Wire
about 252 days ago by Global_Macro
about 252 days ago by Global_Macro
Sep 15, 5:17PM Business Wire
Sep 01, 4:15PM Business Wire
Jun 16, 5:30PM Business Wire
Jun 06, 4:15PM Business Wire
Mar 17, 5:20PM Business Wire
Mar 03, 4:16PM Business Wire
about 756 days ago by SnoopyJC
about 938 days ago by richallensf
about 938 days ago by SnoopyJC
about 996 days ago by SnoopyJC
about 1245 days ago by FlipPidot
Recent Quotes
| Symbol | Price | Chg | Chg % | Market Cap |
|---|---|---|---|---|
| ONEQ | 111.73 | -0.43 | -0.38% | |
| ONE | 12.75 | -1.43 | -10.08% | 805.57M |
| ONCY | 3.40 | -0.07 | -2.02% | 265.18M |
| ONB | 11.59 | +0.03 | +0.26% | 1.092B |
| OMX | 4.88 | +0.10 | +2.09% | 413.80M |
| OMPI | 12.39 | -0.20 | -1.59% | 235.31M |
| OMN | 7.19 | +0.07 | +0.98% | 326.02M |
| OMI | 28.46 | +0.30 | +1.07% | 1.790B |
| OMG | 18.21 | -0.49 | -2.62% | 604.57M |
| SHPGY | 84.41 | -1.70 | -1.97% | 16.15B |
