Fidelity Correlations

FXNAX Fund

USD 10.39 0.03 0.29%

The current 90-days correlation between Fidelity Bond Index and Fidelity International Index is 0.13 (i.e., Average diversification). The correlation of Fidelity 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 Correlation With Market

Good diversification

The correlation between Fidelity Bond Index and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Bond Index 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 Bond Index. 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

0.72	FQITX	Fidelity Salem Street	Pair Corr
0.79	FRAMX	Fidelity Income Repl	Pair Corr
0.64	FRASX	Fidelity Income Repl	Pair Corr
0.61	FRESX	Fidelity Real Estate	Pair Corr
0.61	FRIFX	Fidelity Real Estate	Pair Corr
0.78	FRIMX	Fidelity Income Repl	Pair Corr
0.63	FRINX	Fidelity Real Estate	Pair Corr
0.7	FRIOX	Fidelity Real Estate	Pair Corr
0.63	FRIQX	Fidelity Real Estate	Pair Corr
0.77	FRHMX	Fidelity Managed Ret	Pair Corr
0.77	FRKMX	Fidelity Managed Ret	Pair Corr
0.62	FRIRX	Fidelity Real Estate	Pair Corr
0.73	FROGX	Fidelity Municipal Income	Pair Corr
0.75	FRQHX	Fidelity Managed Ret	Pair Corr
0.76	FRQIX	Fidelity Income Repl	Pair Corr
0.76	FRQKX	Fidelity Managed Ret	Pair Corr
0.77	FRQAX	Fidelity Income Repl	Pair Corr
0.65	FACTX	Fidelity Advisor Health	Pair Corr
0.68	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.67	FPURX	Fidelity Puritan	Pair Corr
0.67	FPUKX	Fidelity Puritan	Pair Corr
0.6	FRPCX	Fidelity Sai Alternative	Pair Corr
0.55	FRAGX	Aggressive Growth	Pair Corr
0.45	FQLSX	Fidelity Flex Freedom	Pair Corr
0.44	FRPDX	Fidelity Sai Alternative	Pair Corr
0.43	FQIPX	Fidelity Freedom Index	Pair Corr
0.43	FRGAX	Growth Allocation Index	Pair Corr
0.43	FRLPX	Fidelity Freedom Index	Pair Corr
0.37	FAASX	Fidelity Asset Manager	Pair Corr
0.84	FADTX	Fidelity Advisor Tec	Pair Corr
0.81	FAFSX	Fidelity Advisor Fin	Pair Corr
0.81	FAFDX	Fidelity Advisor Fin	Pair Corr
0.81	FAFCX	Fidelity Advisor Fin	Pair Corr
0.78	FACGX	Fidelity Advisor Growth	Pair Corr
0.78	FAGOX	Fidelity Advisor Growth	Pair Corr
0.78	FAGCX	Fidelity Advisor Growth	Pair Corr
0.78	FAGAX	Fidelity Advisor Growth	Pair Corr
0.76	FACVX	Fidelity Convertible	Pair Corr

Related Correlations Analysis

	FSPSX	FTIHX	FSKAX	FSMAX	FSSNX
FSPSX		0.91	-0.6	-0.69	-0.61	FSPSX
FTIHX	0.91		-0.29	-0.44	-0.38	FTIHX
FSKAX	-0.6	-0.29		0.97	0.94	FSKAX
FSMAX	-0.69	-0.44	0.97		0.98	FSMAX
FSSNX	-0.61	-0.38	0.94	0.98		FSSNX
	FSPSX	FTIHX	FSKAX	FSMAX	FSSNX

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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

FSSNX	+ 0.98	FSMAX
FSMAX	+ 0.97	FSKAX
FSSNX	+ 0.94	FSKAX
FTIHX	+ 0.91	FSPSX

High negative correlations

FSMAX	- 0.69	FSPSX
FSSNX	- 0.61	FSPSX
FSKAX	- 0.6	FSPSX
FSMAX	- 0.44	FTIHX
FSSNX	- 0.38	FTIHX
FSKAX	- 0.29	FTIHX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity 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'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
FSPSX	0.65	(0.15)	0.00	(0.23)	0.00	0.00	0.91	(1.64)	4.06
FTIHX	0.62	(0.11)	0.00	(0.15)	0.00	0.00	1.23	(1.54)	4.00
FSKAX	0.57	0.01	(0.01)	0.12	0.67	(0.61)	1.10	(1.30)	4.12
FSMAX	0.80	0.06	0.09	0.16	0.72	(0.85)	1.75	(1.29)	6.01
FSSNX	0.92	(0.02)	0.03	0.10	0.90	(0.99)	2.11	(1.61)	7.62

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