Fidelity Zero Correlations

Mutual Funds . USA . 
Fund . Fidelity Zero Extended
FZIPX Fund  USD 14.20  0.14  0.98%   
The current 90-days correlation between Fidelity Zero Extended and Fidelity Zero International is -0.12 (i.e., Good diversification). The correlation of Fidelity Zero 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 Zero Correlation With Market

Almost no diversification

The correlation between Fidelity Zero Extended and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Zero Extended 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 Zero Extended. 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 american community survey.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.97FRBEX Fidelity Freedom 2070PairCorr
  0.97FRBKX Fidelity Advisor FreedomPairCorr
  0.97FRBLX Fidelity Advisor FreedomPairCorr
  0.95FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBYX Fidelity Freedom BlendPairCorr
  0.93FRAMX Fidelity Income ReplPairCorr
  0.95FRCPX Fidelity Freedom BlendPairCorr
  0.96FRCRX Fidelity SustainablePairCorr
  0.96FRCWX Fidelity SustainablePairCorr
  0.96FRCYX Fidelity SustainablePairCorr
  0.96FRDDX Fidelity SustainablePairCorr
  0.67FRESX Fidelity Real EstatePairCorr
  0.93FRIFX Fidelity Real EstatePairCorr
  0.91FRIOX Fidelity Real EstatePairCorr
  0.93FRIRX Fidelity Real EstatePairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  0.67FROGX Fidelity Municipal IncomePairCorr
  0.94FRQIX Fidelity Income ReplPairCorr
  0.93FRQAX Fidelity Income ReplPairCorr
  0.97FAASX Fidelity Asset ManagerPairCorr
  0.98FAAIX Fidelity Asset ManagerPairCorr
  0.97FACVX Fidelity ConvertiblePairCorr
  0.93FACPX Fidelity Advisor SumerPairCorr
  0.91FACNX Fidelity CanadaPairCorr
  0.82FACFX Fidelity Advisor FreedomPairCorr
  0.97FADTX Fidelity Advisor TecPairCorr
  0.94FADMX Fidelity Advisor StrPairCorr
  0.91FADIX Fidelity Advisor DivPairCorr
  0.93FADCX Fidelity Advisor DivPairCorr
  0.97FADAX Fidelity Advisor DividendPairCorr
  0.97FAEGX Fidelity Advisor EquityPairCorr
  0.97FAFSX Fidelity Advisor FinPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Zero 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 Zero'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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