Fidelity Series Correlations

FSTZX Fund  USD 9.89  0.02  0.20%   
The current 90-days correlation between Fidelity Series 0 and Tweedy Browne Global is -0.13 (i.e., Good diversification). The correlation of Fidelity Series 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 Series Correlation With Market

Significant diversification

The correlation between Fidelity Series 0 5 and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series 0 5 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 Series 0 5. 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 nation.

Moving together with Fidelity Mutual Fund

  0.71FPTKX Fidelity Freedom 2015PairCorr
  0.84FQITX Fidelity Salem StreetPairCorr
  0.88FRAMX Fidelity Income ReplPairCorr
  0.82FRASX Fidelity Income ReplPairCorr
  0.93FRIFX Fidelity Real EstatePairCorr

Moving against Fidelity Mutual Fund

  0.57FPURX Fidelity PuritanPairCorr
  0.57FPUKX 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 Series 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 Series' 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.