Fidelity Sai Correlations

FSPWX Fund

10.12 0.01 0.1%

The current 90-days correlation between Fidelity Sai Inflation and Federated Government Income is 0.49 (i.e., Very weak 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

Modest diversification

The correlation between Fidelity Sai Inflation Protect and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai Inflation Protect 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 Inflation Protected. 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 services.

Moving against Fidelity Mutual Fund

0.78	FPURX	Fidelity Puritan	Pair Corr
0.69	FPUKX	Fidelity Puritan	Pair Corr
0.6	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.59	FQIFX	Fidelity Freedom Index	Pair Corr
0.59	FRBDX	Fidelity Freedom 2070	Pair Corr
0.59	FRBEX	Fidelity Freedom 2070	Pair Corr
0.59	FRBHX	Fidelity Freedom 2070	Pair Corr
0.56	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.55	FQLSX	Fidelity Flex Freedom	Pair Corr
0.55	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.53	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.52	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.48	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.47	FQIPX	Fidelity Freedom Index	Pair Corr
0.35	FPXTX	Fidelity Pennsylvania	Pair Corr
0.62	FRCNX	Fidelity Freedom Blend	Pair Corr
0.61	FRBYX	Fidelity Freedom Blend	Pair Corr
0.61	FRCQX	Fidelity Sustainable	Pair Corr
0.58	FRBQX	Fidelity Flex Freedom	Pair Corr
0.57	FRCLX	Fidelity Freedom Blend	Pair Corr
0.56	FRCRX	Fidelity Sustainable	Pair Corr
0.55	FRCFX	Fidelity Freedom Blend	Pair Corr
0.55	FRCHX	Fidelity Freedom Blend	Pair Corr
0.55	FRCPX	Fidelity Freedom Blend	Pair Corr
0.52	FRBVX	Fidelity Freedom Index	Pair Corr
0.52	FRCKX	Fidelity Freedom Blend	Pair Corr
0.51	FRBZX	Fidelity Freedom Blend	Pair Corr
0.48	FRBWX	Fidelity Freedom Index	Pair Corr
0.43	FRAGX	Aggressive Growth	Pair Corr
0.36	FRBUX	Fidelity Freedom Index	Pair Corr
0.57	FRDCX	Fidelity Sustainable	Pair Corr
0.56	FRCVX	Fidelity Sustainable	Pair Corr
0.56	FRCWX	Fidelity Sustainable	Pair Corr
0.56	FRDDX	Fidelity Sustainable	Pair Corr
0.49	FRDEX	Fidelity Sustainable	Pair Corr
0.48	FRIQX	Fidelity Real Estate	Pair Corr

Related Correlations Analysis

	FICMX	ICAXX	BIGBX	SIGVX	RYAQX	SMAAX
FICMX		0.0	0.54	0.39	0.18	0.56	FICMX
ICAXX	0.0		0.0	0.0	0.0	0.0	ICAXX
BIGBX	0.54	0.0		0.77	0.52	0.58	BIGBX
SIGVX	0.39	0.0	0.77		0.88	0.72	SIGVX
RYAQX	0.18	0.0	0.52	0.88		0.63	RYAQX
SMAAX	0.56	0.0	0.58	0.72	0.63		SMAAX
	FICMX	ICAXX	BIGBX	SIGVX	RYAQX	SMAAX

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

RYAQX	+ 0.88	SIGVX
SIGVX	+ 0.77	BIGBX
SMAAX	+ 0.72	SIGVX
SMAAX	+ 0.63	RYAQX
SMAAX	+ 0.58	BIGBX
SMAAX	+ 0.56	FICMX

High negative correlations

SMAAX	- 0.0	ICAXX
RYAQX	- 0.0	ICAXX
SIGVX	- 0.0	ICAXX
BIGBX	- 0.0	ICAXX
ICAXX	- 0.0	FICMX

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
FICMX	0.16	0.00	(0.42)	0.09	0.14	(0.21)	0.33	(0.33)	0.98
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BIGBX	0.10	0.00	(0.73)	0.04	0.04	(0.15)	0.20	(0.20)	0.60
SIGVX	0.06	0.01	(0.99)	(1.84)	0.00	(0.13)	0.10	(0.10)	0.51
RYAQX	0.40	0.04	(0.19)	(0.12)	0.43	(0.44)	0.98	(0.62)	1.98
SMAAX	0.06	0.01	(0.95)	1.84	0.00	(0.13)	0.19	(0.10)	0.29

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