Fidelity Investment Correlations

Mutual Funds . USA . 
Fund . Fidelity Investment Grade
FBNDX Fund  USD 7.07  0.01  0.14%   
The current 90-days correlation between Fidelity Investment Grade and Fidelity Short Term Bond is -0.01 (i.e., Good diversification). The correlation of Fidelity Investment 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 Investment Correlation With Market

Modest diversification

The correlation between Fidelity Investment Grade and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Investment Grade 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 Investment Grade. 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

  0.92FPTKX Fidelity Freedom 2015PairCorr
  0.78FPXTX Fidelity PennsylvaniaPairCorr
  0.83FQIFX Fidelity Freedom IndexPairCorr
  0.8FQIPX Fidelity Freedom IndexPairCorr
  0.71FQITX Fidelity Salem StreetPairCorr
  0.8FQLSX Fidelity Flex FreedomPairCorr
  0.7FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.75FRGAX Growth Allocation IndexPairCorr
  0.69FRESX Fidelity Real EstatePairCorr
  0.83FRIFX Fidelity Real EstatePairCorr
  0.95FRIMX Fidelity Income ReplPairCorr
  0.83FRINX Fidelity Real EstatePairCorr
  0.81FRIOX Fidelity Real EstatePairCorr
  0.83FRIQX Fidelity Real EstatePairCorr
  0.87FRHMX Fidelity Managed RetPairCorr
  0.82FRKMX Fidelity Managed RetPairCorr
  0.82FRIRX Fidelity Real EstatePairCorr
  0.8FRLPX Fidelity Freedom IndexPairCorr
  0.86FROGX Fidelity Municipal IncomePairCorr
  0.82FRQHX Fidelity Managed RetPairCorr
  0.88FRQIX Fidelity Income ReplPairCorr
  0.82FRQKX Fidelity Managed RetPairCorr
  0.95FRQAX Fidelity Income ReplPairCorr
  0.77FAASX Fidelity Asset ManagerPairCorr
  0.77FAAIX Fidelity Asset ManagerPairCorr
  0.63FACTX Fidelity Advisor HealthPairCorr
  0.66FACNX Fidelity CanadaPairCorr
  0.78FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.44FRPCX Fidelity Sai AlternativePairCorr
  0.33FABCX Fidelity Advisor BalancedPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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