Fidelity Intermediate Correlations

FUAMX Fund

USD 9.71 0.03 0.31%

The current 90-days correlation between Fidelity Intermediate and Fidelity Short Term Treasury is 0.89 (i.e., Very poor diversification). The correlation of Fidelity Intermediate 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 Intermediate Correlation With Market

Very good diversification

The correlation between Fidelity Intermediate Treasury and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Intermediate 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 Intermediate 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 population.

Moving together with Fidelity Mutual Fund

0.75	FQITX	Fidelity Salem Street	Pair Corr
0.75	FRAMX	Fidelity Income Repl	Pair Corr
0.73	FRIMX	Fidelity Income Repl	Pair Corr
0.67	FRIOX	Fidelity Real Estate	Pair Corr
0.72	FRHMX	Fidelity Managed Ret	Pair Corr
0.73	FRKMX	Fidelity Managed Ret	Pair Corr
0.7	FRQHX	Fidelity Managed Ret	Pair Corr
0.72	FRQIX	Fidelity Income Repl	Pair Corr
0.71	FRQKX	Fidelity Managed Ret	Pair Corr
0.73	FRQAX	Fidelity Income Repl	Pair Corr
0.62	FACTX	Fidelity Advisor Health	Pair Corr
0.64	FACFX	Fidelity Advisor Freedom	Pair Corr
0.62	FACDX	Fidelity Advisor Health	Pair Corr

Moving against Fidelity Mutual Fund

0.73	FPUKX	Fidelity Puritan	Pair Corr
0.72	FPURX	Fidelity Puritan	Pair Corr
0.66	FRPCX	Fidelity Sai Alternative	Pair Corr
0.61	FRAGX	Aggressive Growth	Pair Corr
0.51	FQLSX	Fidelity Flex Freedom	Pair Corr
0.5	FRGAX	Growth Allocation Index	Pair Corr
0.49	FQIPX	Fidelity Freedom Index	Pair Corr
0.49	FRLPX	Fidelity Freedom Index	Pair Corr
0.45	FAAIX	Fidelity Asset Manager	Pair Corr
0.44	FAASX	Fidelity Asset Manager	Pair Corr
0.38	FRPDX	Fidelity Sai Alternative	Pair Corr
0.87	FADTX	Fidelity Advisor Tec	Pair Corr
0.85	FAFSX	Fidelity Advisor Fin	Pair Corr
0.85	FAFDX	Fidelity Advisor Fin	Pair Corr
0.85	FAFCX	Fidelity Advisor Fin	Pair Corr
0.83	FACGX	Fidelity Advisor Growth	Pair Corr
0.83	FAGOX	Fidelity Advisor Growth	Pair Corr
0.83	FAGCX	Fidelity Advisor Growth	Pair Corr
0.83	FAGAX	Fidelity Advisor Growth	Pair Corr
0.81	FAGKX	Fidelity Growth Stra	Pair Corr

Related Correlations Analysis

	FUMBX	FIPDX	FNBGX	FPADX	FSRNX
FUMBX		0.96	0.95	0.03	0.5	FUMBX
FIPDX	0.96		0.9	0.19	0.53	FIPDX
FNBGX	0.95	0.9		-0.15	0.39	FNBGX
FPADX	0.03	0.19	-0.15		0.0	FPADX
FSRNX	0.5	0.53	0.39	0.0		FSRNX
	FUMBX	FIPDX	FNBGX	FPADX	FSRNX

Click cells to compare fundamentals

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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

FIPDX	+ 0.96	FUMBX
FNBGX	+ 0.95	FUMBX
FNBGX	+ 0.9	FIPDX
FSRNX	+ 0.53	FIPDX
FSRNX	+ 0.5	FUMBX
FSRNX	+ 0.39	FNBGX

High negative correlations

FPADX	- 0.15	FNBGX
FSRNX	- 0.0	FPADX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Intermediate 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 Intermediate'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
FUMBX	0.11	0.00	(0.85)	0.23	0.12	(0.15)	0.20	(0.19)	0.78
FIPDX	0.21	(0.02)	0.00	(0.66)	0.00	0.00	0.33	(0.55)	1.08
FNBGX	0.61	(0.02)	0.00	0.19	0.00	0.00	1.27	(1.42)	4.11
FPADX	0.76	(0.06)	0.00	(0.04)	0.00	0.00	1.86	(1.87)	5.24
FSRNX	0.68	0.05	(0.07)	0.51	0.78	(0.73)	1.35	(1.38)	3.53

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