Fidelity Municipal Correlations

Mutual Funds . USA . 
Fund . Fidelity Municipal Income
FHIGX Fund  USD 12.15  0.03  0.25%   
The current 90-days correlation between Fidelity Municipal Income and Fidelity Tax Free Bond is 0.98 (i.e., Almost no diversification). The correlation of Fidelity Municipal 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 Municipal Correlation With Market

Significant diversification

The correlation between Fidelity Municipal Income and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Municipal Income 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 Municipal Income. 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 price.

Moving together with Fidelity Mutual Fund

  0.81FPTKX Fidelity Freedom 2015PairCorr
  0.97FPXTX Fidelity PennsylvaniaPairCorr
  0.78FQIFX Fidelity Freedom IndexPairCorr
  0.78FRAMX Fidelity Income ReplPairCorr
  0.82FRASX Fidelity Income ReplPairCorr
  0.69FRIFX Fidelity Real EstatePairCorr
  0.78FRIMX Fidelity Income ReplPairCorr
  0.68FRINX Fidelity Real EstatePairCorr
  0.67FRIOX Fidelity Real EstatePairCorr
  0.69FRIQX Fidelity Real EstatePairCorr
  0.79FRHMX Fidelity Managed RetPairCorr
  0.78FRKMX Fidelity Managed RetPairCorr
  0.68FRIRX Fidelity Real EstatePairCorr
  1.0FROGX Fidelity Municipal IncomePairCorr
  0.79FRQHX Fidelity Managed RetPairCorr
  0.78FRQIX Fidelity Income ReplPairCorr
  0.79FRQKX Fidelity Managed RetPairCorr
  0.78FRQAX Fidelity Income ReplPairCorr
  0.79FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.34FABCX Fidelity Advisor BalancedPairCorr

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 Municipal 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 Municipal'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY