Fidelity Managed Correlations

FRQKX Fund

USD 53.81 0.08 0.15%

The current 90-days correlation between Fidelity Managed Ret and Calvert High Yield is 0.44 (i.e., Very weak diversification). The correlation of Fidelity Managed 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 Managed Correlation With Market

Weak diversification

The correlation between Fidelity Managed Retirement and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Managed Retirement 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 Managed Retirement. 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 industry.

Moving together with Fidelity Mutual Fund

0.93	FPTKX	Fidelity Freedom 2015	Pair Corr
0.7	FPXTX	Fidelity Pennsylvania	Pair Corr
0.79	FQIFX	Fidelity Freedom Index	Pair Corr
0.73	FQITX	Fidelity Salem Street	Pair Corr
1.0	FRAMX	Fidelity Income Repl	Pair Corr
0.99	FRASX	Fidelity Income Repl	Pair Corr
0.64	FRESX	Fidelity Real Estate	Pair Corr
0.77	FRIFX	Fidelity Real Estate	Pair Corr
1.0	FRIMX	Fidelity Income Repl	Pair Corr
0.77	FRINX	Fidelity Real Estate	Pair Corr
0.8	FRIOX	Fidelity Real Estate	Pair Corr
0.78	FRIQX	Fidelity Real Estate	Pair Corr
1.0	FRHMX	Fidelity Managed Ret	Pair Corr
1.0	FRKMX	Fidelity Managed Ret	Pair Corr
0.77	FRIRX	Fidelity Real Estate	Pair Corr
0.76	FROGX	Fidelity Municipal Income	Pair Corr
1.0	FRQHX	Fidelity Managed Ret	Pair Corr
1.0	FRQIX	Fidelity Income Repl	Pair Corr
1.0	FRQAX	Fidelity Income Repl	Pair Corr
0.68	FACTX	Fidelity Advisor Health	Pair Corr
0.99	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.57	FRPDX	Fidelity Sai Alternative	Pair Corr
0.32	FRPCX	Fidelity Sai Alternative	Pair Corr
0.48	FAFSX	Fidelity Advisor Fin	Pair Corr
0.48	FAFDX	Fidelity Advisor Fin	Pair Corr
0.48	FAFCX	Fidelity Advisor Fin	Pair Corr
0.33	FADTX	Fidelity Advisor Tec	Pair Corr
0.32	FACVX	Fidelity Convertible	Pair Corr
0.31	FAGKX	Fidelity Growth Stra	Pair Corr

Related Correlations Analysis

	CYBAX	AWF	AGTFX	PARCX	MWHIX	CABIX	BCHIX	CBSYX
CYBAX		0.24	0.62	0.65	0.89	0.45	0.45	0.44	CYBAX
AWF	0.24		0.02	0.22	0.46	0.66	0.63	0.66	AWF
AGTFX	0.62	0.02		0.97	0.44	0.49	-0.06	0.49	AGTFX
PARCX	0.65	0.22	0.97		0.53	0.67	0.11	0.67	PARCX
MWHIX	0.89	0.46	0.44	0.53		0.58	0.7	0.58	MWHIX
CABIX	0.45	0.66	0.49	0.67	0.58		0.61	1.0	CABIX
BCHIX	0.45	0.63	-0.06	0.11	0.7	0.61		0.61	BCHIX
CBSYX	0.44	0.66	0.49	0.67	0.58	1.0	0.61		CBSYX
	CYBAX	AWF	AGTFX	PARCX	MWHIX	CABIX	BCHIX	CBSYX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

CBSYX	+ 1.0	CABIX
PARCX	+ 0.97	AGTFX
MWHIX	+ 0.89	CYBAX
BCHIX	+ 0.7	MWHIX
CABIX	+ 0.67	PARCX
CBSYX	+ 0.67	PARCX

High negative correlations

BCHIX

- 0.06

AGTFX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Managed 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 Managed'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
CYBAX	0.10	0.00	(0.87)	0.17	0.00	(0.13)	0.24	(0.16)	0.73
AWF	0.33	(0.02)	(0.27)	0.02	0.38	(0.39)	0.73	(0.74)	1.91
AGTFX	0.53	(0.03)	(0.08)	0.08	0.57	(0.62)	1.20	(0.88)	3.40
PARCX	0.35	(0.03)	(0.18)	0.06	0.41	(0.37)	0.76	(0.76)	2.22
MWHIX	0.10	0.01	(0.71)	0.73	0.00	(0.19)	0.22	(0.21)	0.65
CABIX	0.32	(0.02)	(0.25)	0.05	0.35	(0.38)	0.69	(0.72)	2.27
BCHIX	0.15	0.01	(0.28)	(0.01)	0.23	(0.22)	0.40	(0.40)	1.53
CBSYX	0.33	(0.03)	(0.25)	0.05	0.35	(0.39)	0.69	(0.67)	2.27

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC