Fidelity Income Correlations

FIIVX Fund

USD 55.09 0.12 0.22%

The current 90-days correlation between Fidelity Income Repl and Trowe Price Retirement is -0.03 (i.e., Good 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 0.76 (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 real.

Moving together with Fidelity Mutual Fund

0.96	FPTKX	Fidelity Freedom 2015	Pair Corr
0.76	FPURX	Fidelity Puritan	Pair Corr
0.76	FPUKX	Fidelity Puritan	Pair Corr
0.77	FPXTX	Fidelity Pennsylvania	Pair Corr
0.95	FQIFX	Fidelity Freedom Index	Pair Corr
0.85	FQIPX	Fidelity Freedom Index	Pair Corr
0.84	FQITX	Fidelity Salem Street	Pair Corr
0.81	FQLSX	Fidelity Flex Freedom	Pair Corr
0.85	FRAGX	Aggressive Growth	Pair Corr
0.95	FRAMX	Fidelity Income Repl	Pair Corr
0.97	FRASX	Fidelity Income Repl	Pair Corr
0.9	FRGAX	Growth Allocation Index	Pair Corr
0.84	FRESX	Fidelity Real Estate	Pair Corr
0.87	FRIFX	Fidelity Real Estate	Pair Corr
0.96	FRIMX	Fidelity Income Repl	Pair Corr
0.87	FRINX	Fidelity Real Estate	Pair Corr
0.87	FRIOX	Fidelity Real Estate	Pair Corr
0.95	FRKMX	Fidelity Managed Ret	Pair Corr
0.87	FRIRX	Fidelity Real Estate	Pair Corr
0.85	FRLPX	Fidelity Freedom Index	Pair Corr
0.77	FROGX	Fidelity Municipal Income	Pair Corr
0.96	FRQHX	Fidelity Managed Ret	Pair Corr
0.99	FRQIX	Fidelity Income Repl	Pair Corr
0.96	FRQKX	Fidelity Managed Ret	Pair Corr
0.96	FRQAX	Fidelity Income Repl	Pair Corr
0.86	FAASX	Fidelity Asset Manager	Pair Corr
0.9	FAAIX	Fidelity Asset Manager	Pair Corr
0.86	FABLX	Fidelity Advisor Balanced	Pair Corr
0.89	FABCX	Fidelity Advisor Balanced	Pair Corr
0.89	FACVX	Fidelity Convertible	Pair Corr
0.88	FACTX	Fidelity Advisor Health	Pair Corr
0.72	FACPX	Fidelity Advisor Sumer	Pair Corr
0.91	FACNX	Fidelity Canada	Pair Corr
0.9	FACDX	Fidelity Advisor Health	Pair Corr
0.94	FADMX	Fidelity Advisor Str	Pair Corr
0.76	FADIX	Fidelity Advisor Div	Pair Corr

Moving against Fidelity Mutual Fund

0.65	FRPCX	Fidelity Sai Alternative	Pair Corr
0.51	FAGNX	Fidelity Advisor Energy	Pair Corr

Related Correlations Analysis

	PARBX	RRTBX	FAOTX	444859BR2	AQUI	BRRAY	ABHYX	MSTSX	LBHIX	SCAXF
PARBX		1.0	0.96	-0.04	0.0	-0.3	0.65	0.98	0.85	0.0	PARBX
RRTBX	1.0		0.95	-0.05	0.0	-0.3	0.64	0.98	0.85	0.0	RRTBX
FAOTX	0.96	0.95		0.1	0.0	-0.18	0.82	0.94	0.96	0.0	FAOTX
444859BR2	-0.04	-0.05	0.1		0.0	0.54	0.14	-0.11	0.2	0.0	444859BR2
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	-1.0	AQUI
BRRAY	-0.3	-0.3	-0.18	0.54	0.0		-0.04	-0.34	-0.08	0.0	BRRAY
ABHYX	0.65	0.64	0.82	0.14	0.0	-0.04		0.66	0.91	0.0	ABHYX
MSTSX	0.98	0.98	0.94	-0.11	0.0	-0.34	0.66		0.85	0.0	MSTSX
LBHIX	0.85	0.85	0.96	0.2	0.0	-0.08	0.91	0.85		0.0	LBHIX
SCAXF	0.0	0.0	0.0	0.0	-1.0	0.0	0.0	0.0	0.0		SCAXF
	PARBX	RRTBX	FAOTX	444859BR2	AQUI	BRRAY	ABHYX	MSTSX	LBHIX	SCAXF

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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

RRTBX	+ 1.0	PARBX
MSTSX	+ 0.98	PARBX
MSTSX	+ 0.98	RRTBX
FAOTX	+ 0.96	PARBX
LBHIX	+ 0.96	FAOTX
FAOTX	+ 0.95	RRTBX

High negative correlations

SCAXF	- 1.0	AQUI
MSTSX	- 0.34	BRRAY
BRRAY	- 0.3	RRTBX
BRRAY	- 0.3	PARBX
BRRAY	- 0.18	FAOTX
MSTSX	- 0.11	444859BR2

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PARBX	0.37	0.05	(0.10)	(5.37)	0.37	(0.44)	0.80	(0.85)	2.19
RRTBX	0.37	0.05	(0.10)	(4.93)	0.37	(0.43)	0.82	(0.81)	2.18
FAOTX	0.29	0.08	(0.08)	(1.86)	0.17	(0.33)	0.78	(0.57)	1.90
444859BR2	0.75	0.00	0.00	0.11	0.00	0.00	1.50	(1.42)	8.86
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	0.66	0.03	0.00	0.04	0.00	0.00	0.00	0.00	28.38
ABHYX	0.12	0.06	(0.21)	(0.42)	0.00	(0.21)	0.34	(0.11)	1.34
MSTSX	0.61	0.11	0.00	(3.79)	0.66	(0.71)	1.40	(1.22)	4.07
LBHIX	0.16	0.06	(0.12)	(19.61)	0.00	(0.31)	0.47	(0.24)	1.45
SCAXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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