Fidelity Series Correlations

FFHCX Fund  USD 8.95  0.01  0.11%   
The current 90-days correlation between Fidelity Series Floating and Aig Government Money is 0.13 (i.e., Average diversification). The correlation of Fidelity Series 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 Series Correlation With Market

FidelityDowDiversified AwayFidelityDowDiversified Away100%

Good diversification

The correlation between Fidelity Series Floating and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Floating 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 Series Floating. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.62FRPCX Fidelity Sai AlternativePairCorr
  0.78FRPDX Fidelity Sai AlternativePairCorr

Moving against Fidelity Mutual Fund

  0.59FACTX Fidelity Advisor HealthPairCorr
  0.47FACVX Fidelity ConvertiblePairCorr
  0.43FACPX Fidelity Advisor SumerPairCorr
  0.38FAASX Fidelity Asset ManagerPairCorr
  0.38FAAIX Fidelity Asset ManagerPairCorr
  0.74FADTX Fidelity Advisor TecPairCorr
  0.68FAEGX Fidelity Advisor EquityPairCorr
  0.48FACDX Fidelity Advisor HealthPairCorr
  0.48FADAX Fidelity Advisor DividendPairCorr
  0.33FAEVX Fidelity Advisor EquityPairCorr

Related Correlations Analysis

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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   
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TRZFXSWGXX
TRZFXFMFXX
FMFXXSMAAX
DSHXXSMAAX
  
High negative correlations   
SWGXXSMAAX
JHMXXDSHXX
JHMXXTRZFX
DSHXXTRZFX
JHMXXFMFXX
DSHXXFMFXX

Risk-Adjusted Indicators

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