Momentum Screen

Track the long-term trends of market-leading sectors

The long-term trends of all 40 Fidelity domestic sector funds are assessed daily using technical indicators. The funds are then rank ordered based on their price momentum. Investments representing the leading bullish sectors (highlighted in blue) are further evaluated on the fund ratings page.

Fri, Dec 14 2018, 21:12 EDT.



Outperformers

Rank* 3 mo. gain Fund name, industry and quote Long-term trend
1.
   
4.47% Fidelity Select Gold (FSAGX)
Precious Metals,   Quote: 17.06 -0.37 (-2.1228%)
Bullish
2.
    +2
-1.86% Fidelity Real Estate Investment (FRESX)
Real Estate,   Quote: 41.08 -0.80 (-1.9102%)
Bullish
3.
    +2
-2.22% Fidelity Select Medical Delivery (FSHCX)
Health Care,   Quote: 95.43 -7.71 (-7.4753%)
Bullish
4.
    -2
-3% Fidelity Select Utilities (FSUTX)
Utilities,   Quote: 85.02 -6.37 (-6.9701%)
New Bearish Trend
5.
    +3
-3.76% Fidelity Select Consumer Staples (FDFAX)
Consumer Staples,   Quote: 73.44 -5.85 (-7.378%)
  Bearish
6.
    -3
-3.8% Fidelity Select Telecom & Utils (FIUIX)
Utilities,   Quote: 25.85 -1.45 (-5.3114%)
  Bearish
7.
   
-3.94% Fidelity Select Leisure (FDLSX)
Consumer Cyclical,   Quote: 13.42 -1.89 (-12.3449%)
  Bearish
8.
    +1
-4.25% Fidelity Select Multimedia (FBMPX)
Consumer Cyclical,   Quote: 69.68 -6.91 (-9.0221%)
  Bearish
9.
    -3
-6.94% Fidelity Select Pharmaceuticals (FPHAX)
Health Care,   Quote: 19.86 -0.88 (-4.243%)
  Bearish
10.
    +4
-7.72% New Outperformer  
Fidelity Select Health Care (FSPHX)
Health Care,   Quote: 22.94 -1.77 (-7.1631%)
  Bearish
11.
    +6
-7.91% New Outperformer  
Fidelity Select Wireless (FWRLX)
Telecom,   Quote: 8.50 -1.34 (-13.6179%)
  Bearish
12.
   
-8.37% New Outperformer  
Fidelity Select Telecommunications (FSTCX)
Telecom,   Quote: 55.29 -1.16 (-2.0549%)
  Bearish
    * The rank and the daily change of rank are calculated using the three-month total return, a commonly used measure of price momentum.

Market Performers**

Rank 3 mo. gain Fund name, industry and quote Long-term trend
13.
   -2
-9.93% Fidelity Select Communications Equipment (FSDCX)
Technology;   Quote: 36.01 -1.24 (-3.3289%)
  Bearish
14.
   +2
-11.03% Fidelity 500 Index (FXAIX)
Benchmark;   Quote: 90.38 -2.64 (-2.8381%)
  Bearish
15.
   +3
-11.59%New Market Performer  
Fidelity Select Insurance (FSPCX)
Financials;   Quote: 53.19 -8.98 (-14.4443%)
  Bearish
16.
   -6
-11.76% Fidelity Select Automotive (FSAVX)
Consumer Cyclical;   Quote: 30.98 -1.45 (-4.4712%)
  Bearish
17.
   -4
-12.79% Fidelity Select Medical Equipment (FSMEX)
Health Care;   Quote: 48.40 -2.94 (-5.7265%)
  Bearish
    ** A fund is considered a market performer when its three-month return is within +/- 2% of the return of the benchmark S&P 500 index fund.

Underperformers

Rank 3 mo. gain Fund name, industry and quote Long-term trend
18.
    -3
-13.49% Fidelity Select Software & Computer Svcs (FSCSX)
Technology,   Quote: 16.87 -1.10 (-6.1213%)
  Bearish
19.
    +7
-13.8% Fidelity Select Computers (FDCPX)
Technology,   Quote: 69.82 -17.49 (-20.0321%)
  Bearish
20.
   
-13.88% Fidelity Select Consumer Discretionary (FSCPX)
Consumer Cyclical,   Quote: 41.01 -1.43 (-3.3695%)
  Bearish
21.
    +10
-14.48% Fidelity Select Defense and Aerospace (FSDAX)
Industrials,   Quote: 14.71 -1.28 (-8.005%)
  Bearish
22.
    +7
-14.48% Fidelity Select Semiconductors (FSELX)
Technology,   Quote: 7.97 -1.62 (-16.8926%)
  Bearish
23.
    -4
-14.94% Fidelity Select Environment & Alt Energy (FSLEX)
Industrials,   Quote: 21.97 -1.10 (-4.7681%)
  Bearish
24.
    +8
-14.95% Fidelity Select Construction & Housing (FSHOX)
Real Estate,   Quote: 48.63 -4.93 (-9.2046%)
  Bearish
25.
    +2
-15.29% Fidelity Select Financial Services (FIDSX)
Financials,   Quote: 8.64 -0.94 (-9.8121%)
  Bearish
26.
    -1
-16.07% Fidelity Select Retailing (FSRPX)
Consumer Cyclical,   Quote: 13.94 -0.47 (-3.2616%)
  Bearish
27.
    -6
-16.19% Fidelity Select Brokerage and Inv Mgmt (FSLBX)
Financials,   Quote: 64.56 -2.83 (-4.1994%)
  Bearish
28.
    +5
-16.2% Fidelity Select Technology (FSPTX)
Technology,   Quote: 13.91 -1.73 (-11.0614%)
  Bearish
29.
    -6
-16.29% Fidelity Select IT Services (FBSOX)
Technology,   Quote: 55.85 -2.92 (-4.9685%)
  Bearish
30.
    -8
-16.87% Fidelity Select Consumer Finance (FSVLX)
Financials,   Quote: 13.85 -0.63 (-4.3508%)
  Bearish
31.
    +5
-18.8% Fidelity Select Banking (FSRBX)
Financials,   Quote: 22.67 -4.99 (-18.0405%)
  Bearish
32.
    +6
-18.9% Fidelity Select Chemicals (FSCHX)
Materials,   Quote: 12.14 -0.95 (-7.2574%)
  Bearish
33.
    -9
-18.94% Fidelity Select Air Transportation (FSAIX)
Industrials,   Quote: 68.45 -4.67 (-6.3868%)
  Bearish
34.
    -6
-19.96% Fidelity Select Transportation (FSRFX)
Industrials,   Quote: 86.47 -6.36 (-6.8512%)
  Bearish
35.
    -5
-20.35% Fidelity Select Biotechnology (FBIOX)
Health Care,   Quote: 18.86 -1.41 (-6.9561%)
  Bearish
36.
    -1
-20.37% Fidelity Select Natural Resources (FNARX)
Energy,   Quote: 23.93 -0.87 (-3.5081%)
  Bearish
Bottom 5 Underperformers
Rank 3 mo. Fund name, Industry and Quote Trend
37.
    -3
-21.33% Fidelity Select Industrials (FCYIX)
Industrials,   Quote: 29.61 -1.73 (-5.5201%)
  Bearish
38.
    +2
-23.33% Fidelity Select Natural Gas (FSNGX)
Energy,   Quote: 19.46 -0.52 (-2.6026%)
  Bearish
39.
   
-24.05% Fidelity Select Energy (FSENX)
Energy,   Quote: 35.56 -1.53 (-4.1251%)
  Bearish
40.
    -3
-24.09% Fidelity Select Materials (FSDPX)
Materials,   Quote: 62.26 -4.48 (-6.7126%)
  Bearish
41.
   
-37.56% Fidelity Select Energy Service (FSESX)
Energy,   Quote: 28.03 -1.22 (-4.1709%)
  Bearish

Explain

Relative strength is a technical analysis method that calculates the strongest performers, compared to the overall market.

Relative Strength Ranking

First, we determine the price momentum for each sector fund using the Rate of Change (RoC) indicator. RoC measures the total return of each fund over a period of time. Since our focus is to capture seasonal changes of the equity market, we use the three-month total return for this calculation.

Next, we compare the momentum of the sector funds to the benchmark S&P 500 index fund to identify outperforming and underperforming investments.


Changing Market Conditions

Our sector rotation strategy aims at investing in the fastest growing industry groups during a given stage of the market cycle. However, shifts in sentiment can occur rapidly, often due to economic and geopolitical events, or industry specific catalysts.

The changing market conditions make it important to keep an eye on the daily changes of both the relative strength and the long-term trends of all sectors in order to generate new investment ideas and to avoid risks.



What to look for?   Examples of new investment opportunities include outperformers that turn from bearish to bullish, or bullish funds that become outperformers. When the equity market turns negative, we also keep track of sector funds that become underperformers and bullish sectors that suddenly start a correction.

Back to top

© 2018 Axiomix, Inc.

Axiomix, Inc. is not a registered investment adviser. The material provided on this website is for general informational purposes only and is not intended as investment advice. Past performance does not guarantee future results.