Fidelity Zero Correlations

FZIPX Fund  USD 14.20  0.14  0.98%   
The current 90-days correlation between Fidelity Zero Extended and Fidelity Zero International is -0.18 (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

Very good diversification

The correlation between Fidelity Zero Extended and DJI is -0.22 (i.e., Very good 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

  0.75FSMMX Fs Multi StrategyPairCorr
  0.73BTMPX Ishares Msci EafePairCorr
  0.73BTMKX Blackrock InternationalPairCorr
  0.89MDIIX Blackrock Intern IndexPairCorr
  0.61SPMPX Invesco Steelpath MlpPairCorr
  0.81MAUKX Pioneer Multi AssetPairCorr
  0.64CAT CaterpillarPairCorr
  0.63INTC IntelPairCorr

Moving against Fidelity Mutual Fund

  0.55MCD McDonaldsPairCorr

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.