Fidelity Income Correlations

Mutual Funds . USA . 
Fund . Fidelity Income Replacement
FIIVX Fund  USD 58.40  0.04  0.07%   
The current 90-days correlation between Fidelity Income Repl and Fidelity Freedom 2015 is 0.14 (i.e., Average diversification). The correlation of Fidelity Income 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 Income Correlation With Market

Poor diversification

The correlation between Fidelity Income Replacement and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Income Replacement 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 Income Replacement. 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

  0.91FPTKX Fidelity Freedom 2015PairCorr
  0.85FPURX Fidelity PuritanPairCorr
  0.85FPUKX Fidelity PuritanPairCorr
  0.73FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.96FQLSX Fidelity Flex FreedomPairCorr
  0.95FRBDX Fidelity Freedom 2070PairCorr
  0.83FRBEX Fidelity Freedom 2070PairCorr
  0.83FRBHX Fidelity Freedom 2070PairCorr
  0.8FRBJX Fidelity Advisor FreedomPairCorr
  0.8FRBKX Fidelity Advisor FreedomPairCorr
  0.79FRBLX Fidelity Advisor FreedomPairCorr
  0.81FRBOX Fidelity Advisor FreedomPairCorr
  0.81FRBPX Fidelity Advisor FreedomPairCorr
  0.84FRBQX Fidelity Flex FreedomPairCorr
  0.85FRBUX Fidelity Freedom IndexPairCorr
  0.96FRBVX Fidelity Freedom IndexPairCorr
  0.85FRBWX Fidelity Freedom IndexPairCorr
  0.83FRBYX Fidelity Freedom BlendPairCorr
  0.95FRBZX Fidelity Freedom BlendPairCorr
  0.85FRAGX Aggressive GrowthPairCorr
  0.93FRAMX Fidelity Income ReplPairCorr
  1.0FRASX Fidelity Income ReplPairCorr
  0.83FRCFX Fidelity Freedom BlendPairCorr
  0.83FRCHX Fidelity Freedom BlendPairCorr
  0.83FRCKX Fidelity Freedom BlendPairCorr
  0.79FRCLX Fidelity Freedom BlendPairCorr
  0.82FRCNX Fidelity Freedom BlendPairCorr
  0.83FRCPX Fidelity Freedom BlendPairCorr
  0.83FRCQX Fidelity SustainablePairCorr
  0.83FRCVX Fidelity SustainablePairCorr
  0.83FRCWX Fidelity SustainablePairCorr
  0.83FRCYX Fidelity SustainablePairCorr
  0.82FRDCX Fidelity SustainablePairCorr
  0.83FRDDX Fidelity SustainablePairCorr
  0.83FRDEX Fidelity SustainablePairCorr
  0.97FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Income 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 Income'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.21  0.03 (0.10) 0.45  0.17 
(0.26)
 0.48 
(0.48)
 1.37 
FPURX  0.41  0.09  0.08  0.30  0.37 
(0.45)
 1.27 
(0.94)
 3.31 
FPUKX  0.41  0.09  0.08  0.30  0.35 
(0.46)
 1.31 
(0.90)
 3.27 
FPXTX  0.11  0.03 (0.25) 1.06  0.00 
(0.17)
 0.29 
(0.19)
 0.78 
FQIFX  0.28  0.01 (0.07) 0.08  0.34 
(0.29)
 0.63 
(0.62)
 1.72 
FQIPX  0.48  0.01  0.00  0.09  0.67 
(0.47)
 1.00 
(1.12)
 3.18 
FQITX  0.68  0.02 (0.04) 0.22  0.89 
(0.67)
 1.08 
(1.50)
 3.07 
FQLSX  0.49  0.02  0.00  0.09  0.67 
(0.49)
 1.02 
(1.17)
 3.31 
FRBDX  0.50  0.02  0.01  0.09  0.73 
(0.49)
 1.01 
(1.21)
 3.31 
FRBEX  0.50  0.07  0.01  0.74  0.71 
(0.49)
 1.06 
(1.21)
 3.30 

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