Fidelity Investment Correlations

FBNDX Fund

USD 7.14 0.01 0.14%

The current 90-days correlation between Fidelity Investment Grade and Jhancock Disciplined Value is -0.26 (i.e., Very good diversification). The correlation of Fidelity Investment 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 Investment Correlation With Market

Very good diversification

The correlation between Fidelity Investment Grade and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Investment Grade 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 Investment Grade. 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 together with Fidelity Mutual Fund

0.69	FPXTX	Fidelity Pennsylvania	Pair Corr
0.66	FQITX	Fidelity Salem Street	Pair Corr
0.73	FRAMX	Fidelity Income Repl	Pair Corr
0.71	FRIMX	Fidelity Income Repl	Pair Corr
0.7	FRHMX	Fidelity Managed Ret	Pair Corr
0.71	FRKMX	Fidelity Managed Ret	Pair Corr
0.77	FROGX	Fidelity Municipal Income	Pair Corr
0.68	FRQHX	Fidelity Managed Ret	Pair Corr
0.7	FRQIX	Fidelity Income Repl	Pair Corr
0.69	FRQKX	Fidelity Managed Ret	Pair Corr
0.71	FRQAX	Fidelity Income Repl	Pair Corr
0.61	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.69	FRPDX	Fidelity Sai Alternative	Pair Corr
0.57	FPURX	Fidelity Puritan	Pair Corr
0.57	FPUKX	Fidelity Puritan	Pair Corr
0.47	FRPCX	Fidelity Sai Alternative Steady Growth	Pair Corr
0.45	FRAGX	Aggressive Growth	Pair Corr
0.4	FQLSX	Fidelity Flex Freedom	Pair Corr
0.36	FQIPX	Fidelity Freedom Index	Pair Corr
0.36	FRLPX	Fidelity Freedom Index	Pair Corr
0.34	FRGAX	Growth Allocation Index	Pair Corr
0.82	FADTX	Fidelity Advisor Tec	Pair Corr
0.75	FAFSX	Fidelity Advisor Fin	Pair Corr
0.75	FAFDX	Fidelity Advisor Fin	Pair Corr
0.75	FAFCX	Fidelity Advisor Fin	Pair Corr
0.72	FACGX	Fidelity Advisor Growth	Pair Corr
0.72	FAGOX	Fidelity Advisor Growth	Pair Corr
0.69	FACVX	Fidelity Vertible	Pair Corr
0.64	FAEGX	Fidelity Advisor Equity	Pair Corr
0.61	FADAX	Fidelity Advisor Dividend	Pair Corr
0.47	FABLX	Fidelity Advisor Balanced	Pair Corr
0.45	FABCX	Fidelity Advisor Balanced	Pair Corr

Related Correlations Analysis

	JDVNX	IAFLX	WSHFX	SMVLX	TRSAX	OWLSX	DOXGX	TRBCX
JDVNX		0.93	0.92	0.5	0.94	0.94	0.99	0.94	JDVNX
IAFLX	0.93		0.91	0.42	0.99	0.96	0.89	0.99	IAFLX
WSHFX	0.92	0.91		0.64	0.89	0.99	0.92	0.91	WSHFX
SMVLX	0.5	0.42	0.64		0.35	0.59	0.5	0.37	SMVLX
TRSAX	0.94	0.99	0.89	0.35		0.93	0.91	1.0	TRSAX
OWLSX	0.94	0.96	0.99	0.59	0.93		0.93	0.95	OWLSX
DOXGX	0.99	0.89	0.92	0.5	0.91	0.93		0.92	DOXGX
TRBCX	0.94	0.99	0.91	0.37	1.0	0.95	0.92		TRBCX
	JDVNX	IAFLX	WSHFX	SMVLX	TRSAX	OWLSX	DOXGX	TRBCX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Investment 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 Investment'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
JDVNX	0.58	(0.01)	0.00	0.09	0.52	(0.72)	1.19	(0.99)	5.07
IAFLX	0.79	(0.01)	(0.02)	0.08	1.17	(0.73)	1.72	(2.08)	4.92
WSHFX	0.50	(0.04)	(0.08)	0.05	0.60	(0.52)	0.99	(1.13)	2.84
SMVLX	0.65	(0.06)	(0.09)	0.02	0.85	(0.67)	1.37	(1.53)	4.12
TRSAX	0.72	(0.01)	(0.01)	0.09	1.03	(0.65)	1.82	(1.99)	5.08
OWLSX	0.53	(0.02)	(0.05)	0.08	0.64	(0.58)	1.21	(1.18)	3.44
DOXGX	0.52	0.00	(0.02)	0.10	0.44	(0.61)	1.17	(0.93)	4.22
TRBCX	0.75	0.00	0.00	0.10	1.10	(0.69)	1.66	(2.18)	4.86

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