Fidelity Inflation Correlations

FIPDX Fund

USD 9.13 0.01 0.11%

The current 90-days correlation between Fidelity Inflation and Fidelity Investment Grade is 0.81 (i.e., Very poor diversification). The correlation of Fidelity Inflation 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 Correlation With Market

Significant diversification

The correlation between Fidelity Inflation Protected B and DJI is 0.08 (i.e., Significant 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 against Fidelity Mutual Fund

0.38	FRBDX	Fidelity Freedom 2070	Pair Corr
0.38	FRBEX	Fidelity Freedom 2070	Pair Corr
0.38	FRBHX	Fidelity Freedom 2070	Pair Corr
0.35	FQLSX	Fidelity Flex Freedom	Pair Corr
0.34	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.33	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.33	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.33	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.32	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.36	FRBQX	Fidelity Flex Freedom	Pair Corr
0.36	FRBZX	Fidelity Freedom Blend	Pair Corr
0.36	FRCNX	Fidelity Freedom Blend	Pair Corr
0.36	FRCPX	Fidelity Freedom Blend	Pair Corr
0.36	FRCQX	Fidelity Sustainable	Pair Corr
0.36	FRCRX	Fidelity Sustainable	Pair Corr
0.35	FRBYX	Fidelity Freedom Blend	Pair Corr
0.35	FRCFX	Fidelity Freedom Blend	Pair Corr
0.35	FRCHX	Fidelity Freedom Blend	Pair Corr
0.35	FRCKX	Fidelity Freedom Blend	Pair Corr
0.35	FRCLX	Fidelity Freedom Blend	Pair Corr
0.36	FRCWX	Fidelity Sustainable	Pair Corr
0.36	FRCYX	Fidelity Sustainable	Pair Corr
0.36	FRDEX	Fidelity Sustainable	Pair Corr
0.35	FRDCX	Fidelity Sustainable	Pair Corr

Related Correlations Analysis

	FBNDX	WIPIX	LIHKX	MCVIX	BSBIX	IIBZX	IIBAX	FUTBX	PRSVX	FFLEX
FBNDX		0.88	0.32	0.11	0.43	0.96	0.78	0.94	0.13	0.3	FBNDX
WIPIX	0.88		0.33	0.31	0.47	0.85	0.73	0.83	0.35	0.4	WIPIX
LIHKX	0.32	0.33		0.51	0.47	0.3	0.39	0.12	0.47	0.93	LIHKX
MCVIX	0.11	0.31	0.51		0.68	0.11	0.05	-0.11	0.96	0.65	MCVIX
BSBIX	0.43	0.47	0.47	0.68		0.51	0.38	0.3	0.73	0.57	BSBIX
IIBZX	0.96	0.85	0.3	0.11	0.51		0.77	0.94	0.15	0.29	IIBZX
IIBAX	0.78	0.73	0.39	0.05	0.38	0.77		0.73	0.07	0.37	IIBAX
FUTBX	0.94	0.83	0.12	-0.11	0.3	0.94	0.73		-0.07	0.08	FUTBX
PRSVX	0.13	0.35	0.47	0.96	0.73	0.15	0.07	-0.07		0.62	PRSVX
FFLEX	0.3	0.4	0.93	0.65	0.57	0.29	0.37	0.08	0.62		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

IIBZX	+ 0.96	FBNDX
PRSVX	+ 0.96	MCVIX
FUTBX	+ 0.94	FBNDX
FUTBX	+ 0.94	IIBZX
FFLEX	+ 0.93	LIHKX
WIPIX	+ 0.88	FBNDX

High negative correlations

FUTBX	- 0.11	MCVIX
PRSVX	- 0.07	FUTBX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Inflation 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'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	0.16	(0.01)	(0.32)	(0.16)	0.16	(0.22)	0.28	(0.27)	0.96
WIPIX	0.14	0.00	(0.35)	0.05	0.12	(0.16)	0.27	(0.27)	0.88
LIHKX	0.52	(0.05)	(0.07)	0.00	0.92	(0.46)	0.94	(1.21)	4.34
MCVIX	0.73	0.09	0.08	0.18	0.66	(0.85)	1.59	(1.25)	7.89
BSBIX	0.04	0.00	0.00	0.07	0.00	0.00	0.10	(0.10)	0.52
IIBZX	0.15	(0.01)	(0.35)	(0.43)	0.16	(0.18)	0.34	(0.34)	1.02
IIBAX	0.14	(0.01)	(0.31)	(0.02)	0.15	(0.17)	0.34	(0.34)	0.79
FUTBX	0.14	0.00	(0.32)	(1.80)	0.16	(0.18)	0.23	(0.34)	0.90
PRSVX	0.97	0.12	0.15	0.15	0.81	(1.09)	1.80	(1.84)	13.81
FFLEX	0.55	(0.03)	(0.05)	0.03	0.83	(0.51)	1.00	(1.32)	3.42

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