Fidelity Sai Correlations

FSISX Fund

USD 8.38 0.04 0.48%

The current 90-days correlation between Fidelity Sai Interna and Morningstar Municipal Bond is -0.04 (i.e., Good diversification). The correlation of Fidelity Sai 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 Sai Correlation With Market

Weak diversification

The correlation between Fidelity Sai International and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai International 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 Sai International. 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 state.

Moving together with Fidelity Mutual Fund

0.87	FPTKX	Fidelity Freedom 2015	Pair Corr
0.8	FQIFX	Fidelity Freedom Index	Pair Corr
0.78	FQLSX	Fidelity Flex Freedom	Pair Corr
0.62	FRAGX	Aggressive Growth	Pair Corr
0.88	FRAMX	Fidelity Income Repl	Pair Corr
0.64	FRESX	Fidelity Real Estate	Pair Corr
0.84	FRIFX	Fidelity Real Estate	Pair Corr
0.83	FRIQX	Fidelity Real Estate	Pair Corr
0.83	FRIRX	Fidelity Real Estate	Pair Corr
0.73	FRLPX	Fidelity Freedom Index	Pair Corr
0.66	FAASX	Fidelity Asset Manager	Pair Corr
0.9	FACFX	Fidelity Advisor Freedom	Pair Corr
0.9	FAERX	Fidelity Advisor Overseas	Pair Corr
0.93	FAIDX	Fidelity International	Pair Corr

Related Correlations Analysis

	MSTPX	PCMNX	BIDPX	OKMUX	LCPMX	FICMX	NSIOX
MSTPX		0.99	0.98	0.98	0.97	0.81	0.87	MSTPX
PCMNX	0.99		0.98	0.98	0.97	0.81	0.86	PCMNX
BIDPX	0.98	0.98		0.99	0.98	0.84	0.84	BIDPX
OKMUX	0.98	0.98	0.99		0.97	0.83	0.82	OKMUX
LCPMX	0.97	0.97	0.98	0.97		0.81	0.85	LCPMX
FICMX	0.81	0.81	0.84	0.83	0.81		0.69	FICMX
NSIOX	0.87	0.86	0.84	0.82	0.85	0.69		NSIOX
	MSTPX	PCMNX	BIDPX	OKMUX	LCPMX	FICMX	NSIOX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Sai 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 Sai'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
MSTPX	0.14	0.00	(0.20)	0.22	0.18	(0.19)	0.30	(0.30)	1.31
PCMNX	0.15	0.00	(0.19)	0.07	0.22	(0.17)	0.25	(0.33)	1.32
BIDPX	0.19	0.00	(0.17)	0.07	0.27	(0.22)	0.37	(0.45)	1.64
OKMUX	0.18	0.00	(0.12)	0.57	0.27	(0.26)	0.39	(0.56)	2.01
LCPMX	0.18	0.01	(0.12)	(0.83)	0.26	(0.24)	0.45	(0.45)	1.70
FICMX	0.26	(0.01)	0.00	1.00	0.00	0.00	0.57	(0.57)	1.72
NSIOX	0.19	0.01	(0.14)	0.42	0.22	(0.25)	0.41	(0.40)	1.62

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Fidelity Sai Correlations

Fidelity Sai Correlation With Market

Weak diversification

Moving together with Fidelity Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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