Fidelity Flex Correlations

FIBUX Fund

USD 9.13 0.01 0.11%

The current 90-days correlation between Fidelity Flex Bond and Fidelity Flex International is 0.01 (i.e., Significant diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Significant diversification

The correlation between Fidelity Flex Bond and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Flex Bond 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 Flex Bond. 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 employment.

Moving together with Fidelity Mutual Fund

0.73	FPTKX	Fidelity Freedom 2015	Pair Corr
0.73	FPXTX	Fidelity Pennsylvania	Pair Corr
0.79	FQITX	Fidelity Salem Street	Pair Corr
0.89	FRAMX	Fidelity Income Repl	Pair Corr
0.83	FRASX	Fidelity Income Repl	Pair Corr
0.73	FRESX	Fidelity Real Estate	Pair Corr
0.96	FRIFX	Fidelity Real Estate	Pair Corr

Moving against Fidelity Mutual Fund

0.56	FPURX	Fidelity Puritan	Pair Corr
0.56	FPUKX	Fidelity Puritan	Pair Corr

Related Correlations Analysis

	FITFX	FDFIX	FLAPX	FLXSX	FJTDX
FITFX		-0.26	-0.25	-0.53	0.85	FITFX
FDFIX	-0.26		0.97	0.92	-0.48	FDFIX
FLAPX	-0.25	0.97		0.93	-0.43	FLAPX
FLXSX	-0.53	0.92	0.93		-0.69	FLXSX
FJTDX	0.85	-0.48	-0.43	-0.69		FJTDX
	FITFX	FDFIX	FLAPX	FLXSX	FJTDX

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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

FLAPX	+ 0.97	FDFIX
FLXSX	+ 0.93	FLAPX
FLXSX	+ 0.92	FDFIX
FJTDX	+ 0.85	FITFX

High negative correlations

FJTDX	- 0.69	FLXSX
FLXSX	- 0.53	FITFX
FJTDX	- 0.48	FDFIX
FJTDX	- 0.43	FLAPX
FDFIX	- 0.26	FITFX
FLAPX	- 0.25	FITFX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Flex 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 Flex'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
FITFX	0.62	0.11	0.15	0.14	0.76	(0.67)	1.28	(1.43)	4.81
FDFIX	0.80	(0.04)	0.00	(0.12)	0.00	0.00	1.28	(1.77)	4.52
FLAPX	0.79	(0.05)	0.00	(0.13)	0.00	0.00	1.34	(1.82)	3.83
FLXSX	0.97	(0.13)	0.00	(0.20)	0.00	0.00	1.63	(2.68)	5.02
FJTDX	0.04	0.01	0.00	0.65	0.00	0.00	0.10	0.00	0.50

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