Fidelity Balanced Correlations

Mutual Funds USA . 
Fund . Fidelity Balanced Fund
FBALX Fund  USD 29.95  0.06  0.20%   
The current 90-days correlation between Fidelity Balanced and Fidelity Puritan Fund is 0.98 (i.e., Almost no diversification). The correlation of Fidelity Balanced 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 Balanced Correlation With Market

Very weak diversification

The correlation between Fidelity Balanced Fund and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Balanced 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 Balanced 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  0.85FPTKX Fidelity Freedom 2015PairCorr
  0.95FPURX Fidelity PuritanPairCorr
  0.95FPUKX Fidelity PuritanPairCorr
  0.76FPXTX Fidelity PennsylvaniaPairCorr
  0.91FQIFX Fidelity Freedom IndexPairCorr
  0.77FQIPX Fidelity Freedom IndexPairCorr
  0.93FQLSX Fidelity Flex FreedomPairCorr
  0.81FRAGX Aggressive GrowthPairCorr
  0.75FRAMX Fidelity Income ReplPairCorr
  0.77FRASX Fidelity Income ReplPairCorr
  0.81FRGAX Growth Allocation IndexPairCorr
  0.79FRESX Fidelity Real EstatePairCorr
  0.7FRIFX Fidelity Real EstatePairCorr
  0.74FRIMX Fidelity Income ReplPairCorr
  0.71FRINX Fidelity Real EstatePairCorr
  0.73FRIOX Fidelity Real EstatePairCorr
  0.71FRIQX Fidelity Real EstatePairCorr
  0.73FRHMX Fidelity Managed RetPairCorr
  0.74FRKMX Fidelity Managed RetPairCorr
  0.7FRIRX Fidelity Real EstatePairCorr
  0.77FRLPX Fidelity Freedom IndexPairCorr
  0.76FROGX Fidelity Municipal IncomePairCorr
  0.73FRQHX Fidelity Managed RetPairCorr
  0.75FRQIX Fidelity Income ReplPairCorr
  0.74FRQKX Fidelity Managed RetPairCorr
  0.76FRQAX Fidelity Income ReplPairCorr
  0.93FAASX Fidelity Asset ManagerPairCorr
  0.93FAAIX Fidelity Asset ManagerPairCorr
  0.8FACVX Fidelity ConvertiblePairCorr
  0.67FACTX Fidelity Advisor HealthPairCorr
  0.73FACPX Fidelity Advisor SumerPairCorr
  0.77FACNX Fidelity CanadaPairCorr
  0.73FACFX Fidelity Advisor FreedomPairCorr
  0.68FACDX Fidelity Advisor HealthPairCorr
  0.61FADTX Fidelity Advisor TecPairCorr
  0.77FADMX Fidelity Advisor StrPairCorr

Moving against Fidelity Mutual Fund

  0.54FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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