Fidelity Sai Correlations

Mutual Funds . USA . 
Fund . Fidelity Sai Alternative
FRPDX Fund   9.42  0.03  0.32%   
The current 90-days correlation between Fidelity Sai Alternative and M Large Cap is 0.02 (i.e., Significant 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

Good diversification

The correlation between Fidelity Sai Alternative and DJI is -0.06 (i.e., 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 unemployment.

Moving against Fidelity Mutual Fund

  0.7FPXTX Fidelity PennsylvaniaPairCorr
  0.45FRESX Fidelity Real EstatePairCorr
  0.43FRAMX Fidelity Income ReplPairCorr
  0.43FRIMX Fidelity Income ReplPairCorr
  0.4FRASX Fidelity Income ReplPairCorr
  0.38FRIOX Fidelity Real EstatePairCorr
  0.36FRIFX Fidelity Real EstatePairCorr
  0.32FPTKX Fidelity Freedom 2015PairCorr
  0.63FROGX Fidelity Municipal IncomePairCorr
  0.52FRIRX Fidelity Real EstatePairCorr
  0.5FRHMX Fidelity Managed RetPairCorr
  0.5FRKMX Fidelity Managed RetPairCorr
  0.49FRQAX Fidelity Income ReplPairCorr
  0.44FRIQX Fidelity Real EstatePairCorr
  0.44FRQKX Fidelity Managed RetPairCorr
  0.43FRQHX Fidelity Managed RetPairCorr
  0.43FRQIX Fidelity Income ReplPairCorr
  0.43FADMX Fidelity Advisor StrPairCorr
  0.37FACFX Fidelity Advisor FreedomPairCorr

Related Correlations Analysis

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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.

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