Fidelity Sai Correlations

FRPCX Fund   10.20  0.05  0.49%   
The current 90-days correlation between Fidelity Sai Alternative and Rmb Mendon Financial is -0.34 (i.e., Very good diversification). The correlation of Fidelity Sai 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 Sai Correlation With Market

Very good diversification

The correlation between Fidelity Sai Alternative and DJI is -0.36 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai Alternative 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 Sai Alternative. 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 main economic indicators.

Moving against Fidelity Mutual Fund

  0.74FRESX Fidelity Real EstatePairCorr
  0.6FPXTX Fidelity PennsylvaniaPairCorr
  0.49FQIFX Fidelity Freedom IndexPairCorr
  0.44FQLSX Fidelity Flex FreedomPairCorr
  0.44FRIOX Fidelity Real EstatePairCorr
  0.39FPTKX Fidelity Freedom 2015PairCorr
  0.39FRIFX Fidelity Real EstatePairCorr
  0.37FPUKX Fidelity PuritanPairCorr
  0.36FPURX Fidelity PuritanPairCorr
  0.35FRINX Fidelity Real EstatePairCorr
  0.81FACVX Fidelity ConvertiblePairCorr
  0.8FACTX Fidelity Advisor HealthPairCorr
  0.66FAASX Fidelity Asset ManagerPairCorr
  0.66FAAIX Fidelity Asset ManagerPairCorr
  0.62FROGX Fidelity Municipal IncomePairCorr
  0.61FACPX Fidelity Advisor SumerPairCorr
  0.38FRIRX Fidelity Real EstatePairCorr
  0.36FRIQX Fidelity Real EstatePairCorr
  0.87FAEVX Fidelity Advisor EquityPairCorr
  0.77FACDX Fidelity Advisor HealthPairCorr
  0.74FAEGX Fidelity Advisor EquityPairCorr
  0.72FACNX Fidelity CanadaPairCorr
  0.71FADTX Fidelity Advisor TecPairCorr
  0.69FADAX Fidelity Advisor DividendPairCorr

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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Sai 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 Sai'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.