Fidelity Series Correlations

FFHCX Fund  USD 8.95  0.01  0.11%   
The current 90-days correlation between Fidelity Series Floating and Legg Mason Bw is -0.02 (i.e., Good 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 -0.14 (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

  0.76FRPCX Fidelity Sai AlternativePairCorr
  0.66FRPDX Fidelity Sai AlternativePairCorr

Moving against Fidelity Mutual Fund

  0.45FRESX Fidelity Real EstatePairCorr
  0.65FACTX Fidelity Advisor HealthPairCorr
  0.55FACVX Fidelity ConvertiblePairCorr
  0.35FAASX Fidelity Asset ManagerPairCorr
  0.34FAAIX Fidelity Asset ManagerPairCorr
  0.64FACDX Fidelity Advisor HealthPairCorr
  0.64FAEGX Fidelity Advisor EquityPairCorr
  0.63FAEVX Fidelity Advisor EquityPairCorr
  0.59FADTX Fidelity Advisor TecPairCorr
  0.59FADAX Fidelity Advisor DividendPairCorr
  0.42FACNX Fidelity CanadaPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.