Fidelity Fund Correlations

FFDKX Fund

USD 89.18 2.21 2.54%

The current 90-days correlation between Fidelity Fund Class and Ab Bond Inflation is -0.01 (i.e., Good diversification). The correlation of Fidelity Fund 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 Fund Correlation With Market

Good diversification

The correlation between Fidelity Fund Class and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Fund Class 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 Fund Class. 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 industry.

Moving together with Fidelity Mutual Fund

0.65	FQLSX	Fidelity Flex Freedom	Pair Corr
0.64	FRCPX	Fidelity Freedom Blend	Pair Corr
0.64	FAASX	Fidelity Asset Manager	Pair Corr
0.64	FAAIX	Fidelity Asset Manager	Pair Corr
0.75	FACVX	Fidelity Convertible	Pair Corr
0.83	FACPX	Fidelity Advisor Sumer	Pair Corr
0.92	FACGX	Fidelity Advisor Growth	Pair Corr
0.8	FADTX	Fidelity Advisor Tec	Pair Corr
0.72	FADAX	Fidelity Advisor Dividend	Pair Corr
0.8	FAFSX	Fidelity Advisor Fin	Pair Corr
0.8	FAFDX	Fidelity Advisor Fin	Pair Corr
0.8	FAFCX	Fidelity Advisor Fin	Pair Corr
0.92	FAGOX	Fidelity Advisor Growth	Pair Corr
0.62	FAGNX	Fidelity Advisor Energy	Pair Corr
0.8	FAGIX	Fidelity Capital Income	Pair Corr
0.98	FAGCX	Fidelity Advisor Growth	Pair Corr
0.92	FAGAX	Fidelity Advisor Growth	Pair Corr
0.81	FAHYX	Fidelity Advisor High	Pair Corr

Moving against Fidelity Mutual Fund

0.31	FRIFX	Fidelity Real Estate	Pair Corr
0.31	FRIQX	Fidelity Real Estate	Pair Corr
0.31	FRIRX	Fidelity Real Estate	Pair Corr
0.35	FAMHX	Fidelity Municipal Income	Pair Corr

Related Correlations Analysis

	ABNTX	URIBX	ELBIX	DLTNX	TTRBX	WACIX	RULFX
ABNTX		0.94	0.9	0.94	0.97	0.91	0.83	ABNTX
URIBX	0.94		0.84	0.95	0.98	0.96	0.64	URIBX
ELBIX	0.9	0.84		0.86	0.87	0.84	0.72	ELBIX
DLTNX	0.94	0.95	0.86		0.95	0.97	0.68	DLTNX
TTRBX	0.97	0.98	0.87	0.95		0.95	0.75	TTRBX
WACIX	0.91	0.96	0.84	0.97	0.95		0.61	WACIX
RULFX	0.83	0.64	0.72	0.68	0.75	0.61		RULFX
	ABNTX	URIBX	ELBIX	DLTNX	TTRBX	WACIX	RULFX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ABNTX	0.15	0.01	0.67	(0.70)	0.09	(0.21)	0.30	(0.39)	0.99
URIBX	0.24	(0.01)	0.46	0.05	0.24	(0.31)	0.55	(0.44)	1.45
ELBIX	0.33	0.03	0.43	1.29	0.28	(0.42)	0.64	(0.48)	1.73
DLTNX	0.23	0.01	0.50	0.12	0.21	(0.32)	0.57	(0.35)	1.40
TTRBX	0.16	(0.01)	0.70	0.02	0.14	(0.20)	0.40	(0.30)	0.82
WACIX	0.26	0.00	0.41	(0.13)	0.29	(0.31)	0.55	(0.55)	1.56
RULFX	0.05	0.01	0.00	(0.87)	0.00	0.00	0.10	(0.10)	0.60

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