Fidelity Income Correlations

FRAMX Fund

USD 59.64 0.11 0.18%

The current 90-days correlation between Fidelity Income Repl and Ab Bond Inflation is 0.05 (i.e., Significant 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 poor diversification

The correlation between Fidelity Income Replacement and DJI is 0.89 (i.e., Very poor 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 board of governors.

Moving together with Fidelity Mutual Fund

0.94	FPTKX	Fidelity Freedom 2015	Pair Corr
0.93	FPURX	Fidelity Puritan	Pair Corr
0.93	FPUKX	Fidelity Puritan	Pair Corr
0.82	FPXTX	Fidelity Pennsylvania	Pair Corr
0.95	FQIFX	Fidelity Freedom Index	Pair Corr
0.95	FQIPX	Fidelity Freedom Index	Pair Corr
0.95	FQITX	Fidelity Salem Street	Pair Corr
0.96	FQLSX	Fidelity Flex Freedom	Pair Corr
0.97	FRBEX	Fidelity Freedom 2070	Pair Corr
0.97	FRBHX	Fidelity Freedom 2070	Pair Corr
0.98	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.98	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.98	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.98	FRBQX	Fidelity Flex Freedom	Pair Corr
0.98	FRBUX	Fidelity Freedom Index	Pair Corr
0.98	FRBVX	Fidelity Freedom Index	Pair Corr
0.98	FRBYX	Fidelity Freedom Blend	Pair Corr
0.98	FRBZX	Fidelity Freedom Blend	Pair Corr
0.95	FRAGX	Aggressive Growth	Pair Corr
0.96	FRASX	Fidelity Income Repl	Pair Corr
0.98	FRCFX	Fidelity Freedom Blend	Pair Corr
0.98	FRCKX	Fidelity Freedom Blend	Pair Corr
0.98	FRCNX	Fidelity Freedom Blend	Pair Corr
0.98	FRCPX	Fidelity Freedom Blend	Pair Corr
0.97	FRCRX	Fidelity Sustainable	Pair Corr
0.94	FRGAX	Growth Allocation Index	Pair Corr
0.85	FRIFX	Fidelity Real Estate	Pair Corr
0.95	FRIMX	Fidelity Income Repl	Pair Corr
0.84	FRIOX	Fidelity Real Estate	Pair Corr
0.89	FRIQX	Fidelity Real Estate	Pair Corr
0.95	FRKMX	Fidelity Managed Ret	Pair Corr
0.85	FRIRX	Fidelity Real Estate	Pair Corr
0.82	FROGX	Fidelity Municipal Income	Pair Corr
0.95	FRQIX	Fidelity Income Repl	Pair Corr
0.98	FAASX	Fidelity Asset Manager	Pair Corr
0.96	FAAIX	Fidelity Asset Manager	Pair Corr

Moving against Fidelity Mutual Fund

0.74	FRPCX	Fidelity Sai Alternative	Pair Corr
0.7	FAERX	Fidelity Advisor Overseas	Pair Corr

Related Correlations Analysis

	FIFGX	TIIHX	RYIFX	SLFYX	ANBIX	GPMFX	TRPZX	ABNTX
FIFGX		0.42	0.8	0.9	0.49	0.76	0.57	0.49	FIFGX
TIIHX	0.42		0.43	0.49	0.9	0.45	0.67	0.9	TIIHX
RYIFX	0.8	0.43		0.84	0.59	0.97	0.64	0.59	RYIFX
SLFYX	0.9	0.49	0.84		0.6	0.82	0.69	0.6	SLFYX
ANBIX	0.49	0.9	0.59	0.6		0.62	0.81	0.99	ANBIX
GPMFX	0.76	0.45	0.97	0.82	0.62		0.64	0.61	GPMFX
TRPZX	0.57	0.67	0.64	0.69	0.81	0.64		0.81	TRPZX
ABNTX	0.49	0.9	0.59	0.6	0.99	0.61	0.81		ABNTX
	FIFGX	TIIHX	RYIFX	SLFYX	ANBIX	GPMFX	TRPZX	ABNTX

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
FIFGX	0.80	0.15	0.10	3.09	0.72	(0.89)	1.61	(1.35)	3.01
TIIHX	0.10	(0.01)	(0.43)	(0.21)	0.11	(0.15)	0.19	(0.19)	0.46
RYIFX	0.55	0.09	0.08	0.20	0.61	(0.58)	1.25	(1.24)	2.89
SLFYX	0.24	0.05	(0.04)	1.30	0.07	(0.30)	0.62	(0.38)	1.27
ANBIX	0.07	(0.01)	(0.61)	(0.45)	0.08	(0.11)	0.10	(0.10)	0.38
GPMFX	0.64	0.07	0.05	0.18	0.73	(0.68)	1.23	(1.13)	3.35
TRPZX	0.06	(0.01)	(0.31)	(0.36)	0.06	(0.21)	0.22	(0.21)	0.43
ABNTX	0.07	(0.01)	(0.56)	(0.45)	0.08	(0.11)	0.10	(0.10)	0.39

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