Gold Portfolio Correlations

FGDAX Fund

USD 31.41 0.46 1.49%

The current 90-days correlation between Gold Portfolio Fidelity and Morningstar Defensive Bond is -0.27 (i.e., Very good diversification). The correlation of Gold Portfolio 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.

Gold Portfolio Correlation With Market

Modest diversification

The correlation between Gold Portfolio Fidelity and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gold Portfolio Fidelity 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 Gold Portfolio Fidelity. 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 nation.

Moving together with Gold Mutual Fund

0.78	FPTKX	Fidelity Freedom 2015	Pair Corr
0.85	FQITX	Fidelity Salem Street	Pair Corr
0.86	FRAMX	Fidelity Income Repl	Pair Corr
0.83	FRASX	Fidelity Income Repl	Pair Corr
0.76	FRIFX	Fidelity Real Estate	Pair Corr

Moving against Gold Mutual Fund

0.42	FPUKX	Fidelity Puritan	Pair Corr
0.31	FPURX	Fidelity Puritan	Pair Corr

Related Correlations Analysis

	MSTBX	BBINX	MBSAX	LTXFX	ARTFX	CBOEX	JAFLX
MSTBX		0.85	0.96	0.88	0.78	0.98	0.95	MSTBX
BBINX	0.85		0.91	0.95	0.86	0.83	0.85	BBINX
MBSAX	0.96	0.91		0.92	0.82	0.94	0.96	MBSAX
LTXFX	0.88	0.95	0.92		0.9	0.89	0.9	LTXFX
ARTFX	0.78	0.86	0.82	0.9		0.75	0.75	ARTFX
CBOEX	0.98	0.83	0.94	0.89	0.75		0.98	CBOEX
JAFLX	0.95	0.85	0.96	0.9	0.75	0.98		JAFLX
	MSTBX	BBINX	MBSAX	LTXFX	ARTFX	CBOEX	JAFLX

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Risk-Adjusted Indicators

There is a big difference between Gold Mutual Fund performing well and Gold Portfolio 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 Gold Portfolio'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
MSTBX	0.11	0.01	0.06	(0.50)	0.00	(0.15)	0.21	(0.21)	0.62
BBINX	0.13	(0.01)	(0.05)	0.34	0.18	(0.18)	0.29	(0.30)	0.78
MBSAX	0.18	0.01	0.02	(0.18)	0.20	(0.21)	0.36	(0.30)	1.34
LTXFX	0.10	0.00	(0.03)	(0.43)	0.12	(0.14)	0.26	(0.20)	0.65
ARTFX	0.13	0.01	0.01	(0.14)	0.07	(0.19)	0.44	(0.22)	0.89
CBOEX	0.17	0.02	0.07	1.12	0.10	(0.20)	0.33	(0.32)	0.98
JAFLX	0.25	0.01	0.03	0.33	0.23	(0.30)	0.61	(0.41)	1.44

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