Fidelity Inflation-protec Correlations

FIPDX Fund

USD 9.16 0.01 0.11%

The current 90-days correlation between Fidelity Inflation-protec and Fidelity Freedom Index is 0.28 (i.e., Modest diversification). The correlation of Fidelity Inflation-protec 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 Inflation-protec Correlation With Market

Good diversification

The correlation between Fidelity Inflation Protected B and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Inflation Protected B 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 Inflation Protected 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 small area income & poverty estimates.

Moving together with Fidelity Mutual Fund

0.98	VIPIX	Vanguard Inflation	Pair Corr
0.98	VAIPX	Vanguard Inflation-protec	Pair Corr
0.97	VIPSX	Vanguard Inflation-protec	Pair Corr
0.92	BFICX	American Funds Inflation	Pair Corr
0.93	BFIAX	American Funds Inflation	Pair Corr
0.96	BFIFX	American Funds Inflation	Pair Corr
0.87	FLIBX	American Funds Inflation	Pair Corr
0.92	FIBLX	American Funds Inflation	Pair Corr
0.95	FSPWX	Fidelity Sai Inflation	Pair Corr
0.93	FSTDX	Fidelity Series 5	Pair Corr

Moving against Fidelity Mutual Fund

0.42

CSCO

Cisco Systems Aggressive Push

Pair Corr

Related Correlations Analysis

	FBNDX	WIPIX	LIHKX	MCVIX	BSBIX	IIBZX	IIBAX	FUTBX	PRSVX	FFLEX
FBNDX		0.79	0.42	0.26	0.5	0.93	0.95	0.87	0.28	0.41	FBNDX
WIPIX	0.79		0.76	0.61	0.84	0.84	0.78	0.49	0.64	0.78	WIPIX
LIHKX	0.42	0.76		0.85	0.76	0.55	0.47	0.02	0.85	0.85	LIHKX
MCVIX	0.26	0.61	0.85		0.8	0.35	0.27	-0.08	0.98	0.61	MCVIX
BSBIX	0.5	0.84	0.76	0.8		0.59	0.49	0.13	0.81	0.79	BSBIX
IIBZX	0.93	0.84	0.55	0.35	0.59		0.94	0.76	0.37	0.57	IIBZX
IIBAX	0.95	0.78	0.47	0.27	0.49	0.94		0.83	0.28	0.47	IIBAX
FUTBX	0.87	0.49	0.02	-0.08	0.13	0.76	0.83		-0.06	0.0	FUTBX
PRSVX	0.28	0.64	0.85	0.98	0.81	0.37	0.28	-0.06		0.61	PRSVX
FFLEX	0.41	0.78	0.85	0.61	0.79	0.57	0.47	0.0	0.61		FFLEX
	FBNDX	WIPIX	LIHKX	MCVIX	BSBIX	IIBZX	IIBAX	FUTBX	PRSVX	FFLEX

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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

PRSVX	+ 0.98	MCVIX
IIBAX	+ 0.95	FBNDX
IIBAX	+ 0.94	IIBZX
IIBZX	+ 0.93	FBNDX
FUTBX	+ 0.87	FBNDX
MCVIX	+ 0.85	LIHKX

High negative correlations

FUTBX	- 0.08	MCVIX
PRSVX	- 0.06	FUTBX
FFLEX	- 0.0	FUTBX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Inflation-protec 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 Inflation-protec'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
FBNDX	0.14	(0.01)	(0.24)	(0.12)	0.17	(0.18)	0.28	(0.27)	0.82
WIPIX	0.14	(0.01)	(0.27)	(0.01)	0.14	(0.16)	0.27	(0.27)	0.71
LIHKX	0.44	0.02	0.01	0.09	0.55	(0.43)	0.93	(1.02)	2.59
MCVIX	0.72	0.13	0.15	0.22	0.55	(0.83)	1.75	(1.25)	8.62
BSBIX	0.05	0.00	(0.28)	0.16	0.00	(0.10)	0.11	(0.10)	0.42
IIBZX	0.14	(0.01)	(0.25)	(0.08)	0.16	(0.16)	0.23	(0.34)	0.79
IIBAX	0.13	(0.01)	(0.26)	(0.09)	0.16	(0.16)	0.23	(0.34)	0.68
FUTBX	0.13	(0.01)	(0.27)	(0.27)	0.17	(0.17)	0.23	(0.23)	0.79
PRSVX	0.94	0.22	0.27	0.21	0.52	(1.15)	2.21	(1.33)	14.38
FFLEX	0.48	0.04	0.03	0.11	0.59	(0.51)	1.01	(1.17)	2.82

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