Fidelity Long-term Correlations

Mutual Funds . USA . 
Fund . Fidelity Long Term Treasury
FNBGX Fund  USD 9.64  0.10  1.05%   
The current 90-days correlation between Fidelity Long Term and Fidelity Intermediate Treasury is 0.93 (i.e., Almost no diversification). The correlation of Fidelity Long-term 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 Long-term Correlation With Market

Average diversification

The correlation between Fidelity Long Term Treasury and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Long Term Treasury 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 Long Term Treasury. 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

  0.83FPTKX Fidelity Freedom 2015PairCorr
  0.94FPXTX Fidelity PennsylvaniaPairCorr
  0.84FQIFX Fidelity Freedom IndexPairCorr
  0.71FQLSX Fidelity Flex FreedomPairCorr
  0.81FRAMX Fidelity Income ReplPairCorr
  0.79FRASX Fidelity Income ReplPairCorr
  0.63FRGAX Growth Allocation IndexPairCorr
  0.93FRESX Fidelity Real EstatePairCorr
  0.8FRIFX Fidelity Real EstatePairCorr
  0.8FRIMX Fidelity Income ReplPairCorr
  0.81FRINX Fidelity Real EstatePairCorr
  0.84FRIOX Fidelity Real EstatePairCorr
  0.82FRIQX Fidelity Real EstatePairCorr
  0.8FRHMX Fidelity Managed RetPairCorr
  0.8FRKMX Fidelity Managed RetPairCorr
  0.8FRIRX Fidelity Real EstatePairCorr
  0.94FROGX Fidelity Municipal IncomePairCorr
  0.8FRQHX Fidelity Managed RetPairCorr
  0.8FRQIX Fidelity Income ReplPairCorr
  0.8FRQKX Fidelity Managed RetPairCorr
  0.81FRQAX Fidelity Income ReplPairCorr
  0.74FAASX Fidelity Asset ManagerPairCorr
  0.74FAAIX Fidelity Asset ManagerPairCorr
  0.62FACTX Fidelity Advisor HealthPairCorr
  0.82FACNX Fidelity CanadaPairCorr
  0.78FACFX Fidelity Advisor FreedomPairCorr
  0.63FACDX Fidelity Advisor HealthPairCorr
  0.82FADMX Fidelity Advisor StrPairCorr

Moving against Fidelity Mutual Fund

  0.68FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Long-term 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 Long-term'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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