Fidelity Long-term Correlations

FNBGX Fund  USD 9.35  0.06  0.64%   
The current 90-days correlation between Fidelity Long Term and Fidelity Intermediate Treasury is 0.03 (i.e., Significant 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

Good diversification

The correlation between Fidelity Long Term Treasury and DJI is -0.18 (i.e., Good 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

  0.69FPTKX Fidelity Freedom 2015PairCorr
  0.74FPXTX Fidelity PennsylvaniaPairCorr
  0.72FQITX Fidelity Salem StreetPairCorr
  0.82FRAMX Fidelity Income ReplPairCorr
  0.76FRASX Fidelity Income ReplPairCorr
  0.8FRESX Fidelity Real EstatePairCorr
  0.9FRIFX Fidelity Real EstatePairCorr

Moving against Fidelity Mutual Fund

  0.56FPUKX Fidelity PuritanPairCorr
  0.54FPURX Fidelity PuritanPairCorr

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.