Fidelity Limited Correlations

Mutual Funds . USA . 
Fund . Fidelity Limited Term
FSTFX Fund  USD 10.44  0.02  0.19%   
The current 90-days correlation between Fidelity Limited Term and Fidelity Intermediate Municipal is 0.92 (i.e., Almost no diversification). The correlation of Fidelity Limited 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 Limited Correlation With Market

Good diversification

The correlation between Fidelity Limited Term and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Limited Term 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 Limited Term. 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 census.

Moving together with Fidelity Mutual Fund

  0.7FPURX Fidelity PuritanPairCorr
  0.71FPUKX Fidelity PuritanPairCorr
  0.83FPXTX Fidelity PennsylvaniaPairCorr
  0.64FQIPX Fidelity Freedom IndexPairCorr
  0.67FRAGX Aggressive GrowthPairCorr
  0.68FRGAX Growth Allocation IndexPairCorr
  0.65FRKMX Fidelity Managed RetPairCorr
  0.64FRLPX Fidelity Freedom IndexPairCorr
  0.8FROGX Fidelity Municipal IncomePairCorr
  0.64FRQIX Fidelity Income ReplPairCorr
  0.78FACPX Fidelity Advisor SumerPairCorr
  0.61FACGX Fidelity Advisor GrowthPairCorr
  0.84FADMX Fidelity Advisor StrPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Limited 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 Limited'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.

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