Fidelity Series Correlations

Mutual Funds . USA . 
Fund . Fidelity Series Government
FHNFX Fund  USD 9.13  0.01  0.11%   
The current 90-days correlation between Fidelity Series Gove and Goldman Sachs Technology is -0.18 (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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Series Government. 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 census.

Moving together with Fidelity Mutual Fund

  0.71FPTKX Fidelity Freedom 2015PairCorr
  0.79FRINX Fidelity Real EstatePairCorr
  0.94FRIOX Fidelity Real EstatePairCorr
  0.83FRIQX Fidelity Real EstatePairCorr
  0.82FRIRX Fidelity Real EstatePairCorr
  0.64FROGX Fidelity Municipal IncomePairCorr
  0.75FRQIX Fidelity Income ReplPairCorr
  0.67FRQAX Fidelity Income ReplPairCorr
  0.67FADIX Fidelity Advisor DivPairCorr
  0.92FSAWX Fidelity Sai ConvertiblePairCorr

Moving against Fidelity Mutual Fund

  0.63FADTX Fidelity Advisor TecPairCorr
  0.61FPURX Fidelity PuritanPairCorr
  0.6FACPX Fidelity Advisor Sumer Steady GrowthPairCorr
  0.58FAEGX Fidelity Advisor EquityPairCorr
  0.55FAGAX Fidelity Advisor GrowthPairCorr
  0.46FACDX Fidelity Advisor HealthPairCorr
  0.34FAGIX Fidelity Capital IncomePairCorr
  0.34FAHYX Fidelity Advisor HighPairCorr
  0.8FSCPX Consumer Discretionary Steady GrowthPairCorr
  0.65FSEBX Fidelity Advisor SusPairCorr
  0.64FSCEX Fidelity Advisor SmallPairCorr
  0.64FASPX Fidelity Advisor ValuePairCorr
  0.54FAPMX Fidelity Summer StreetPairCorr
  0.53FSHOX Construction And HousingPairCorr
  0.48FSAVX Automotive PortfolioPairCorr
  0.48FSCSX Software And ItPairCorr
  0.45INDEX Sp 500 EqualPairCorr
  0.43FALAX Fidelity Advisor LargePairCorr

Related Correlations Analysis

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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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