Fidelity Corporate Correlations

Mutual Funds . USA . 
Fund . Fidelity Porate Bond
FCBFX Fund  USD 10.44  0.02  0.19%   
The current 90-days correlation between Fidelity Porate Bond and Fidelity Total Bond is 0.12 (i.e., Average diversification). The correlation of Fidelity Corporate 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 Corporate Correlation With Market

Average diversification

The correlation between Fidelity Porate Bond and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Porate 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 Porate 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 census.

Moving together with Fidelity Mutual Fund

  0.87FPTKX Fidelity Freedom 2015PairCorr
  0.73FPURX Fidelity PuritanPairCorr
  0.73FPUKX Fidelity PuritanPairCorr
  0.81FPXTX Fidelity PennsylvaniaPairCorr
  0.86FQIFX Fidelity Freedom IndexPairCorr
  0.75FQIPX Fidelity Freedom IndexPairCorr
  0.81FQLSX Fidelity Flex FreedomPairCorr
  0.74FRAGX Aggressive GrowthPairCorr
  0.88FRAMX Fidelity Income ReplPairCorr
  0.87FRASX Fidelity Income ReplPairCorr
  0.63FRGAX Growth Allocation IndexPairCorr
  0.74FRESX Fidelity Real EstatePairCorr
  0.84FRIFX Fidelity Real EstatePairCorr
  0.88FRIMX Fidelity Income ReplPairCorr
  0.84FRINX Fidelity Real EstatePairCorr
  0.77FRIOX Fidelity Real EstatePairCorr
  0.84FRIQX Fidelity Real EstatePairCorr
  0.88FRHMX Fidelity Managed RetPairCorr
  0.87FRKMX Fidelity Managed RetPairCorr
  0.83FRIRX Fidelity Real EstatePairCorr
  0.74FRLPX Fidelity Freedom IndexPairCorr
  0.84FROGX Fidelity Municipal IncomePairCorr
  0.88FRQHX Fidelity Managed RetPairCorr
  0.87FRQIX Fidelity Income ReplPairCorr
  0.81FRQKX Fidelity Managed RetPairCorr
  0.88FRQAX Fidelity Income ReplPairCorr
  0.77FAASX Fidelity Asset ManagerPairCorr
  0.78FAAIX Fidelity Asset ManagerPairCorr
  0.73FACVX Fidelity ConvertiblePairCorr
  0.66FACPX Fidelity Advisor SumerPairCorr
  0.71FACNX Fidelity CanadaPairCorr
  0.9FACFX Fidelity Advisor FreedomPairCorr
  0.61FACDX Fidelity Advisor HealthPairCorr
  0.78FADMX Fidelity Advisor StrPairCorr
  0.75FADIX Fidelity Advisor DivPairCorr

Moving against Fidelity Mutual Fund

  0.39FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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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   
FBNDX
+ 0.99
FTBFX
FHIFX
+ 0.84
FJRLX
FBNDX
+ 0.65
FHIFX
FHIFX
+ 0.62
FTBFX
FBNDX
+ 0.44
FJRLX
FJRLX
+ 0.35
FTBFX
  
High negative correlations   
FGHNX
- 0.39
FTBFX
FGHNX
- 0.32
FBNDX

Risk-Adjusted Indicators

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