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

0.69	FPTKX	Fidelity Freedom 2015	Pair Corr
0.74	FPXTX	Fidelity Pennsylvania	Pair Corr
0.72	FQITX	Fidelity Salem Street	Pair Corr
0.82	FRAMX	Fidelity Income Repl	Pair Corr
0.76	FRASX	Fidelity Income Repl	Pair Corr
0.8	FRESX	Fidelity Real Estate	Pair Corr
0.9	FRIFX	Fidelity Real Estate	Pair Corr

Moving against Fidelity Mutual Fund

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

Related Correlations Analysis

	FUAMX	FUMBX	FIPDX	FPADX	FXNAX
FUAMX		0.98	0.93	0.71	0.96	FUAMX
FUMBX	0.98		0.9	0.69	0.92	FUMBX
FIPDX	0.93	0.9		0.79	0.98	FIPDX
FPADX	0.71	0.69	0.79		0.75	FPADX
FXNAX	0.96	0.92	0.98	0.75		FXNAX
	FUAMX	FUMBX	FIPDX	FPADX	FXNAX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FUAMX	0.27	0.04	0.12	4.52	0.20	(0.33)	0.62	(0.52)	1.49
FUMBX	0.11	0.02	0.15	(3.54)	0.00	(0.16)	0.20	(0.19)	0.59
FIPDX	0.22	0.04	0.15	(0.81)	0.08	(0.26)	0.45	(0.33)	1.23
FPADX	0.77	0.07	0.08	(1.58)	0.89	(0.88)	1.63	(1.82)	5.33
FXNAX	0.24	0.03	0.11	(0.49)	0.16	(0.28)	0.49	(0.39)	1.39

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