Fidelity Sai Correlations

Mutual Funds . USA . 
Fund . Fidelity Sai Treasury
FUTBX Fund  USD 8.77  0.04  0.45%   
The current 90-days correlation between Fidelity Sai Treasury and Enhanced Fixed Income is 0.61 (i.e., Poor 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

Significant diversification

The correlation between Fidelity Sai Treasury 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 Sai 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 Sai 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 bureau of labor statistics.

Moving together with Fidelity Mutual Fund

  0.71FPTKX Fidelity Freedom 2015PairCorr
  0.95FRINX Fidelity Real EstatePairCorr
  0.95FRIOX Fidelity Real EstatePairCorr
  0.95FRIQX Fidelity Real EstatePairCorr
  0.95FRIRX Fidelity Real EstatePairCorr
  0.7FROGX Fidelity Municipal IncomePairCorr
  0.87FRQIX Fidelity Income ReplPairCorr
  0.87FRQAX Fidelity Income ReplPairCorr
  0.79FADIX Fidelity Advisor DivPairCorr
  0.8FADCX Fidelity Advisor DivPairCorr
  0.91FSAWX Fidelity Sai ConvertiblePairCorr

Moving against Fidelity Mutual Fund

  0.78FACPX Fidelity Advisor SumerPairCorr
  0.77FADTX Fidelity Advisor TecPairCorr
  0.67FAGAX Fidelity Advisor GrowthPairCorr
  0.65FAEGX Fidelity Advisor EquityPairCorr
  0.61FPURX Fidelity PuritanPairCorr
  0.42FACDX Fidelity Advisor HealthPairCorr
  0.37FAGIX Fidelity Capital IncomePairCorr
  0.36FAHYX Fidelity Advisor HighPairCorr
  0.78FSCPX Consumer DiscretionaryPairCorr
  0.75FSEBX Fidelity Advisor SusPairCorr
  0.69FAPMX Fidelity Summer StreetPairCorr
  0.68FASPX Fidelity Advisor ValuePairCorr
  0.68FSHOX Construction And HousingPairCorr
  0.61FSCSX Software And ItPairCorr
  0.56FSCEX Fidelity Advisor SmallPairCorr
  0.55INDEX Sp 500 EqualPairCorr
  0.54FALAX Fidelity Advisor LargePairCorr
  0.51FSAVX Automotive PortfolioPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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