Fidelity Managed Correlations

FHRVX Fund

USD 54.44 0.16 0.29%

The current 90-days correlation between Fidelity Managed Ret and Massmutual Premier Diversified is 0.16 (i.e., Average diversification). The correlation of Fidelity Managed 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 Managed Correlation With Market

Good diversification

The correlation between Fidelity Managed Retirement and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Managed Retirement 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 Managed Retirement. 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 real.

Moving together with Fidelity Mutual Fund

0.94	FPTKX	Fidelity Freedom 2015	Pair Corr
0.72	FPURX	Fidelity Puritan	Pair Corr
0.72	FPUKX	Fidelity Puritan	Pair Corr
0.78	FPXTX	Fidelity Pennsylvania	Pair Corr
0.9	FQIFX	Fidelity Freedom Index	Pair Corr
0.91	FQIPX	Fidelity Freedom Index	Pair Corr
0.89	FQITX	Fidelity Salem Street	Pair Corr
0.87	FQLSX	Fidelity Flex Freedom	Pair Corr
0.89	FRAGX	Aggressive Growth	Pair Corr
0.94	FRASX	Fidelity Income Repl	Pair Corr
0.91	FRGAX	Growth Allocation Index	Pair Corr
0.86	FRIFX	Fidelity Real Estate	Pair Corr
0.94	FRIMX	Fidelity Income Repl	Pair Corr
0.84	FRIOX	Fidelity Real Estate	Pair Corr
0.94	FRHMX	Fidelity Managed Ret	Pair Corr
0.94	FRKMX	Fidelity Managed Ret	Pair Corr
0.86	FRIRX	Fidelity Real Estate	Pair Corr
0.91	FRLPX	Fidelity Freedom Index	Pair Corr
0.75	FROGX	Fidelity Municipal Income	Pair Corr
0.94	FRQIX	Fidelity Income Repl	Pair Corr
0.94	FRQKX	Fidelity Managed Ret	Pair Corr
0.94	FRQAX	Fidelity Income Repl	Pair Corr
0.65	FAASX	Fidelity Asset Manager	Pair Corr
0.66	FAAIX	Fidelity Asset Manager	Pair Corr
0.94	FACFX	Fidelity Advisor Freedom	Pair Corr
0.91	FADMX	Fidelity Advisor Str	Pair Corr
0.87	FAERX	Fidelity Advisor Overseas	Pair Corr
0.66	FAFSX	Fidelity Advisor Fin	Pair Corr
0.9	FAFEX	Fidelity Advisor Freedom	Pair Corr

Related Correlations Analysis

	MDBLX	CDBCX	FHCOX	HIIDX	PGBAX	QDARX	SRDAX
MDBLX		0.95	0.18	0.88	0.83	0.15	-0.18	MDBLX
CDBCX	0.95		-0.05	0.8	0.71	-0.1	-0.39	CDBCX
FHCOX	0.18	-0.05		0.28	0.53	0.92	0.82	FHCOX
HIIDX	0.88	0.8	0.28		0.88	0.31	-0.08	HIIDX
PGBAX	0.83	0.71	0.53	0.88		0.49	0.21	PGBAX
QDARX	0.15	-0.1	0.92	0.31	0.49		0.74	QDARX
SRDAX	-0.18	-0.39	0.82	-0.08	0.21	0.74		SRDAX
	MDBLX	CDBCX	FHCOX	HIIDX	PGBAX	QDARX	SRDAX

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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

CDBCX	+ 0.95	MDBLX
QDARX	+ 0.92	FHCOX
HIIDX	+ 0.88	MDBLX
PGBAX	+ 0.88	HIIDX
PGBAX	+ 0.83	MDBLX
SRDAX	+ 0.82	FHCOX

High negative correlations

SRDAX	- 0.39	CDBCX
SRDAX	- 0.18	MDBLX
QDARX	- 0.1	CDBCX
SRDAX	- 0.08	HIIDX
FHCOX	- 0.05	CDBCX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Managed 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 Managed'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
MDBLX	0.25	0.03	0.07	0.41	0.18	(0.31)	0.61	(0.38)	1.37
CDBCX	0.24	0.02	0.03	0.22	0.20	(0.31)	0.66	(0.44)	1.55
FHCOX	0.05	0.01	0.00	(1.59)	0.00	0.00	0.10	(0.10)	0.50
HIIDX	0.52	0.04	0.05	0.10	0.65	(0.55)	1.14	(0.95)	3.01
PGBAX	0.14	0.02	0.07	(0.60)	0.00	(0.19)	0.34	(0.25)	0.93
QDARX	0.09	0.01	0.05	(2.33)	0.00	(0.13)	0.25	(0.16)	0.49
SRDAX	0.14	0.02	0.05	2.15	0.00	(0.19)	0.29	(0.37)	0.95

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