Fidelity Total Correlations

Mutual Funds USA . 
Fund . Fidelity Total Bond
FBKWX Fund  USD 9.38  0.02  0.21%   
The current 90-days correlation between Fidelity Total Bond and Neuberger Berman Income is 0.64 (i.e., Poor diversification). The correlation of Fidelity Total 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 Total Correlation With Market

Modest diversification

The correlation between Fidelity Total Bond and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Total Bond 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 Total Bond. 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 housing.

Moving together with Fidelity Mutual Fund

  0.93FPTKX Fidelity Freedom 2015PairCorr
  0.62FPURX Fidelity PuritanPairCorr
  0.61FPUKX Fidelity PuritanPairCorr
  0.79FPXTX Fidelity PennsylvaniaPairCorr
  0.9FQIFX Fidelity Freedom IndexPairCorr
  0.8FQIPX Fidelity Freedom IndexPairCorr
  0.71FQITX Fidelity Salem StreetPairCorr
  0.83FQLSX Fidelity Flex FreedomPairCorr
  0.7FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  0.75FRGAX Growth Allocation IndexPairCorr
  0.75FRESX Fidelity Real EstatePairCorr
  0.87FRIFX Fidelity Real EstatePairCorr
  0.96FRIMX Fidelity Income ReplPairCorr
  0.87FRINX Fidelity Real EstatePairCorr
  0.86FRIOX Fidelity Real EstatePairCorr
  0.87FRIQX Fidelity Real EstatePairCorr
  0.96FRHMX Fidelity Managed RetPairCorr
  0.96FRKMX Fidelity Managed RetPairCorr
  0.87FRIRX Fidelity Real EstatePairCorr
  0.8FRLPX Fidelity Freedom IndexPairCorr
  0.87FROGX Fidelity Municipal IncomePairCorr
  0.96FRQHX Fidelity Managed RetPairCorr
  0.96FRQIX Fidelity Income ReplPairCorr
  0.96FRQKX Fidelity Managed RetPairCorr
  0.96FRQAX Fidelity Income ReplPairCorr
  0.8FAASX Fidelity Asset ManagerPairCorr
  0.8FAAIX Fidelity Asset ManagerPairCorr
  0.68FACTX Fidelity Advisor HealthPairCorr
  0.73FACNX Fidelity CanadaPairCorr
  0.95FACFX Fidelity Advisor FreedomPairCorr
  0.68FACDX Fidelity Advisor HealthPairCorr

Moving against Fidelity Mutual Fund

  0.5FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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