Fidelity Total Correlations

FEPTX Fund

USD 9.50 0.04 0.42%

The current 90-days correlation between Fidelity Total Bond and Fidelity Freedom 2015 is 0.59 (i.e., Very weak 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

Good diversification

The correlation between Fidelity Total Bond and DJI is -0.07 (i.e., Good 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 estimate.

Moving together with Fidelity Mutual Fund

0.65	FPTKX	Fidelity Freedom 2015	Pair Corr
0.71	FQITX	Fidelity Salem Street	Pair Corr
0.87	FRAMX	Fidelity Income Repl	Pair Corr
0.78	FRASX	Fidelity Income Repl	Pair Corr
0.69	FRESX	Fidelity Real Estate	Pair Corr
0.81	FRIFX	Fidelity Real Estate	Pair Corr
0.79	FRIMX	Fidelity Income Repl	Pair Corr
0.82	FRINX	Fidelity Real Estate	Pair Corr
0.9	FRIOX	Fidelity Real Estate	Pair Corr
0.87	FRIQX	Fidelity Real Estate	Pair Corr
0.86	FRHMX	Fidelity Managed Ret	Pair Corr
0.86	FRKMX	Fidelity Managed Ret	Pair Corr
0.8	FRIRX	Fidelity Real Estate	Pair Corr
0.85	FRQHX	Fidelity Managed Ret	Pair Corr
0.78	FRQIX	Fidelity Income Repl	Pair Corr
0.85	FRQKX	Fidelity Managed Ret	Pair Corr
0.86	FRQAX	Fidelity Income Repl	Pair Corr
0.63	FACTX	Fidelity Advisor Health	Pair Corr
0.82	FACFX	Fidelity Advisor Freedom	Pair Corr
0.65	FACDX	Fidelity Advisor Health	Pair Corr

Moving against Fidelity Mutual Fund

0.61	FABLX	Fidelity Advisor Balanced	Pair Corr
0.57	FABCX	Fidelity Advisor Balanced	Pair Corr
0.49	FPURX	Fidelity Puritan	Pair Corr
0.49	FPUKX	Fidelity Puritan	Pair Corr
0.38	FRAGX	Aggressive Growth	Pair Corr
0.67	FAFSX	Fidelity Advisor Fin	Pair Corr
0.67	FAFDX	Fidelity Advisor Fin	Pair Corr
0.67	FAFCX	Fidelity Advisor Fin	Pair Corr
0.66	FAGAX	Fidelity Advisor Growth	Pair Corr
0.65	FACGX	Fidelity Advisor Growth	Pair Corr
0.65	FADTX	Fidelity Advisor Tec	Pair Corr
0.65	FAGOX	Fidelity Advisor Growth	Pair Corr
0.65	FAGCX	Fidelity Advisor Growth	Pair Corr
0.6	FADAX	Fidelity Advisor Dividend	Pair Corr

Related Correlations Analysis

	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRAGX	FRAMX
FPTKX		0.17	0.16	0.68	0.83	0.46	0.6	0.55	0.34	0.93	FPTKX
FPURX	0.17		1.0	0.23	0.55	0.89	-0.5	0.83	0.97	-0.14	FPURX
FPUKX	0.16	1.0		0.23	0.55	0.89	-0.5	0.83	0.96	-0.15	FPUKX
FPXTX	0.68	0.23	0.23		0.67	0.34	0.24	0.34	0.3	0.67	FPXTX
FQIFX	0.83	0.55	0.55	0.67		0.8	0.39	0.71	0.71	0.68	FQIFX
FQIPX	0.46	0.89	0.89	0.34	0.8		-0.1	0.91	0.98	0.16	FQIPX
FQITX	0.6	-0.5	-0.5	0.24	0.39	-0.1		-0.14	-0.29	0.74	FQITX
FQLSX	0.55	0.83	0.83	0.34	0.71	0.91	-0.14		0.9	0.22	FQLSX
FRAGX	0.34	0.97	0.96	0.3	0.71	0.98	-0.29	0.9		0.02	FRAGX
FRAMX	0.93	-0.14	-0.15	0.67	0.68	0.16	0.74	0.22	0.02		FRAMX
	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRAGX	FRAMX

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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

FPUKX	+ 1.0	FPURX
FRAGX	+ 0.98	FQIPX
FRAGX	+ 0.97	FPURX
FRAGX	+ 0.96	FPUKX
FRAMX	+ 0.93	FPTKX
FQLSX	+ 0.91	FQIPX

High negative correlations

FQITX	- 0.5	FPUKX
FQITX	- 0.5	FPURX
FRAGX	- 0.29	FQITX
FRAMX	- 0.15	FPUKX
FQLSX	- 0.14	FQITX
FRAMX	- 0.14	FPURX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FPTKX	0.26	(0.02)	(0.28)	0.03	0.26	(0.32)	0.59	(0.50)	1.52
FPURX	0.38	0.11	0.02	1.26	0.22	(0.42)	0.99	(0.65)	2.82
FPUKX	0.38	0.11	0.03	1.28	0.20	(0.44)	0.95	(0.65)	2.79
FPXTX	0.13	(0.01)	(0.34)	0.00	0.17	(0.19)	0.29	(0.28)	1.24
FQIFX	0.30	0.03	(0.17)	0.57	0.27	(0.34)	0.67	(0.57)	1.81
FQIPX	0.44	0.08	(0.02)	1.51	0.39	(0.48)	1.00	(0.88)	2.99
FQITX	0.68	(0.01)	0.00	1.93	0.00	0.00	1.27	(1.46)	5.17
FQLSX	0.48	0.01	(0.05)	0.12	0.43	(0.55)	1.10	(0.96)	3.16
FRAGX	0.41	0.09	(0.01)	1.41	0.29	(0.47)	0.88	(0.69)	2.92
FRAMX	0.20	(0.02)	(0.45)	(0.08)	0.23	(0.23)	0.37	(0.35)	1.30

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