Fidelity Income Correlations

FIXRX Fund

USD 57.32 0.26 0.46%

The current 90-days correlation between Fidelity Income Repl and Vanguard Target Retirement is 0.96 (i.e., Almost no diversification). The correlation of Fidelity Income 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 Income Correlation With Market

Very weak diversification

The correlation between Fidelity Income Replacement and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Income Replacement 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 Income Replacement. 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

0.99	FPTKX	Fidelity Freedom 2015	Pair Corr
0.97	FQIFX	Fidelity Freedom Index	Pair Corr
0.66	FQIPX	Fidelity Freedom Index	Pair Corr
0.65	FQLSX	Fidelity Flex Freedom	Pair Corr
0.86	FRAMX	Fidelity Income Repl	Pair Corr
0.95	FRASX	Fidelity Income Repl	Pair Corr
0.63	FRGAX	Growth Allocation Index	Pair Corr
0.71	FRIFX	Fidelity Real Estate	Pair Corr
0.87	FRIMX	Fidelity Income Repl	Pair Corr
0.7	FRINX	Fidelity Real Estate	Pair Corr
0.69	FRIOX	Fidelity Real Estate	Pair Corr
0.7	FRIQX	Fidelity Real Estate	Pair Corr
0.88	FRHMX	Fidelity Managed Ret	Pair Corr
0.88	FRKMX	Fidelity Managed Ret	Pair Corr
0.7	FRIRX	Fidelity Real Estate	Pair Corr
0.67	FRLPX	Fidelity Freedom Index	Pair Corr
0.9	FRQHX	Fidelity Managed Ret	Pair Corr
0.89	FRQIX	Fidelity Income Repl	Pair Corr
0.89	FRQKX	Fidelity Managed Ret	Pair Corr
0.88	FRQAX	Fidelity Income Repl	Pair Corr
0.7	FAASX	Fidelity Asset Manager	Pair Corr
0.69	FAAIX	Fidelity Asset Manager	Pair Corr
0.93	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.43

FRPDX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	VTTVX	AADTX	CCDTX	FAPTX	FSNPX	FFTWX	FDTKX	TREHX	PARJX
VTTVX		0.95	0.93	0.95	0.93	0.93	0.93	0.97	0.97	VTTVX
AADTX	0.95		1.0	1.0	0.98	0.98	0.98	0.86	0.87	AADTX
CCDTX	0.93	1.0		1.0	0.98	0.98	0.99	0.82	0.84	CCDTX
FAPTX	0.95	1.0	1.0		0.98	0.98	0.98	0.86	0.87	FAPTX
FSNPX	0.93	0.98	0.98	0.98		1.0	1.0	0.82	0.83	FSNPX
FFTWX	0.93	0.98	0.98	0.98	1.0		1.0	0.82	0.83	FFTWX
FDTKX	0.93	0.98	0.99	0.98	1.0	1.0		0.82	0.84	FDTKX
TREHX	0.97	0.86	0.82	0.86	0.82	0.82	0.82		1.0	TREHX
PARJX	0.97	0.87	0.84	0.87	0.83	0.83	0.84	1.0		PARJX
	VTTVX	AADTX	CCDTX	FAPTX	FSNPX	FFTWX	FDTKX	TREHX	PARJX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Income 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 Income'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
VTTVX	0.30	(0.02)	(0.22)	0.08	0.32	(0.33)	0.64	(0.64)	1.69
AADTX	0.26	(0.02)	(0.30)	0.05	0.29	(0.28)	0.50	(0.62)	1.50
CCDTX	0.25	(0.03)	(0.30)	0.05	0.28	(0.28)	0.51	(0.58)	1.41
FAPTX	0.26	(0.02)	(0.31)	0.05	0.28	(0.28)	0.51	(0.63)	1.39
FSNPX	0.35	(0.03)	(0.22)	0.04	0.42	(0.38)	0.76	(0.84)	2.02
FFTWX	0.35	(0.03)	(0.23)	0.04	0.41	(0.38)	0.76	(0.77)	1.95
FDTKX	0.35	(0.03)	(0.23)	0.05	0.41	(0.37)	0.77	(0.78)	2.03
TREHX	0.29	(0.02)	(0.21)	0.08	0.36	(0.30)	0.57	(0.63)	1.84
PARJX	0.29	(0.02)	(0.20)	0.08	0.37	(0.30)	0.64	(0.64)	1.81

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