Fidelity Inflation-protec Correlations

Mutual Funds . USA . 
Fund . Fidelity Inflation Protected Bond
FIPDX Fund  USD 9.18  0.03  0.33%   
The current 90-days correlation between Fidelity Inflation-protec and Fidelity Intermediate Treasury is 0.83 (i.e., Very poor diversification). The correlation of Fidelity Inflation-protec 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 Inflation-protec Correlation With Market

Significant diversification

The correlation between Fidelity Inflation Protected B and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Inflation Protected B 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 Inflation Protected 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 unemployment.

Moving together with Fidelity Mutual Fund

  0.66FPTKX Fidelity Freedom 2015PairCorr
  0.61FPXTX Fidelity PennsylvaniaPairCorr
  0.8FQITX Fidelity Salem StreetPairCorr
  0.91FRAMX Fidelity Income ReplPairCorr
  0.8FRASX Fidelity Income ReplPairCorr
  0.61FRESX Fidelity Real EstatePairCorr
  0.72FRIFX Fidelity Real EstatePairCorr
  0.9FRIMX Fidelity Income ReplPairCorr
  0.74FRINX Fidelity Real EstatePairCorr
  0.8FRIOX Fidelity Real EstatePairCorr
  0.74FRIQX Fidelity Real EstatePairCorr
  0.89FRHMX Fidelity Managed RetPairCorr
  0.9FRKMX Fidelity Managed RetPairCorr
  0.73FRIRX Fidelity Real EstatePairCorr
  0.88FRQHX Fidelity Managed RetPairCorr
  0.89FRQIX Fidelity Income ReplPairCorr
  0.88FRQKX Fidelity Managed RetPairCorr
  0.9FRQAX Fidelity Income ReplPairCorr
  0.68FACTX Fidelity Advisor HealthPairCorr
  0.84FACFX Fidelity Advisor FreedomPairCorr
  0.68FACDX Fidelity Advisor HealthPairCorr

Moving against Fidelity Mutual Fund

  0.56FRPCX Fidelity Sai AlternativePairCorr
  0.51FPUKX Fidelity PuritanPairCorr
  0.5FPURX Fidelity PuritanPairCorr
  0.44FRPDX Fidelity Sai AlternativePairCorr
  0.34FRAGX Aggressive GrowthPairCorr
  0.75FAFSX Fidelity Advisor FinPairCorr
  0.75FAFDX Fidelity Advisor FinPairCorr
  0.75FAFCX Fidelity Advisor FinPairCorr
  0.69FADTX Fidelity Advisor TecPairCorr
  0.65FACVX Fidelity VertiblePairCorr
  0.65FAGKX Fidelity Growth StraPairCorr
  0.62FACGX Fidelity Advisor GrowthPairCorr
  0.62FAGOX Fidelity Advisor GrowthPairCorr
  0.62FAGCX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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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   
FXNAX
+ 0.99
FUAMX
FSPSX
+ 0.76
FUAMX
FSPSX
+ 0.74
FXNAX
FSPSX
+ 0.48
FPADX
FXNAX
+ 0.46
FSRNX
FSRNX
+ 0.42
FUAMX
  
High negative correlations   
FPADX
- 0.06
FUAMX
FXNAX
- 0.04
FPADX
FSRNX
- 0.0
FPADX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Inflation-protec 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 Inflation-protec'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.

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