Fidelity Sai Correlations

FUTBX Fund

USD 8.77 0.07 0.80%

The current 90-days correlation between Fidelity Sai Treasury and Blackrock Government Bond is 0.91 (i.e., Almost no 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

Very good diversification

The correlation between Fidelity Sai Treasury and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai Treasury 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 Treasury. 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 bureau of labor statistics.

Moving together with Fidelity Mutual Fund

0.71	FQITX	Fidelity Salem Street	Pair Corr
0.74	FRAMX	Fidelity Income Repl	Pair Corr
0.62	FRESX	Fidelity Real Estate	Pair Corr
0.73	FRIMX	Fidelity Income Repl	Pair Corr
0.61	FRIOX	Fidelity Real Estate	Pair Corr
0.71	FRHMX	Fidelity Managed Ret	Pair Corr
0.72	FRKMX	Fidelity Managed Ret	Pair Corr
0.71	FROGX	Fidelity Municipal Income	Pair Corr
0.69	FRQHX	Fidelity Managed Ret	Pair Corr
0.71	FRQIX	Fidelity Income Repl	Pair Corr
0.7	FRQKX	Fidelity Managed Ret	Pair Corr
0.62	FACTX	Fidelity Advisor Health	Pair Corr
0.63	FACFX	Fidelity Advisor Freedom	Pair Corr
0.62	FACDX	Fidelity Advisor Health	Pair Corr

Moving against Fidelity Mutual Fund

0.71	FPURX	Fidelity Puritan	Pair Corr
0.71	FPUKX	Fidelity Puritan	Pair Corr
0.6	FRPCX	Fidelity Sai Alternative	Pair Corr
0.59	FRAGX	Aggressive Growth	Pair Corr
0.5	FQLSX	Fidelity Flex Freedom	Pair Corr
0.5	FRPDX	Fidelity Sai Alternative	Pair Corr
0.48	FQIPX	Fidelity Freedom Index	Pair Corr
0.48	FRGAX	Growth Allocation Index	Pair Corr
0.48	FRLPX	Fidelity Freedom Index	Pair Corr
0.43	FAAIX	Fidelity Asset Manager	Pair Corr
0.41	FAASX	Fidelity Asset Manager	Pair Corr
0.87	FADTX	Fidelity Advisor Tec	Pair Corr
0.86	FAFSX	Fidelity Advisor Fin	Pair Corr
0.86	FAFDX	Fidelity Advisor Fin	Pair Corr
0.86	FAFCX	Fidelity Advisor Fin	Pair Corr
0.82	FACVX	Fidelity Convertible	Pair Corr
0.82	FACGX	Fidelity Advisor Growth	Pair Corr
0.82	FAGOX	Fidelity Advisor Growth	Pair Corr
0.82	FAGKX	Fidelity Growth Stra	Pair Corr
0.82	FAGCX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	BIGLX	DACGX	PGIQX	AIEXX	AMUSX	SSAGX	AGIVX	LCCXX
BIGLX		0.99	1.0	0.0	0.99	-0.48	-0.08	0.0	BIGLX
DACGX	0.99		0.99	0.0	0.99	-0.45	-0.04	0.0	DACGX
PGIQX	1.0	0.99		0.0	0.99	-0.48	-0.08	0.0	PGIQX
AIEXX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AIEXX
AMUSX	0.99	0.99	0.99	0.0		-0.49	-0.08	0.0	AMUSX
SSAGX	-0.48	-0.45	-0.48	0.0	-0.49		0.88	0.0	SSAGX
AGIVX	-0.08	-0.04	-0.08	0.0	-0.08	0.88		0.0	AGIVX
LCCXX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		LCCXX
	BIGLX	DACGX	PGIQX	AIEXX	AMUSX	SSAGX	AGIVX	LCCXX

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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

PGIQX	+ 1.0	BIGLX
DACGX	+ 0.99	BIGLX
AMUSX	+ 0.99	BIGLX
PGIQX	+ 0.99	DACGX
AMUSX	+ 0.99	DACGX
AMUSX	+ 0.99	PGIQX

High negative correlations

SSAGX	- 0.49	AMUSX
SSAGX	- 0.48	PGIQX
SSAGX	- 0.48	BIGLX
SSAGX	- 0.45	DACGX
AGIVX	- 0.08	AMUSX
AGIVX	- 0.08	PGIQX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BIGLX	0.22	(0.03)	0.00	0.61	0.00	0.33	(0.55)	1.44
DACGX	0.19	(0.02)	0.00	0.46	0.00	0.39	(0.48)	1.03
PGIQX	0.23	(0.03)	0.00	0.47	0.00	0.50	(0.64)	1.41
AIEXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMUSX	0.21	(0.03)	0.00	0.58	0.00	0.41	(0.42)	1.48
SSAGX	0.05	0.01	(1.07)	(0.29)	(0.23)	0.10	(0.10)	0.51
AGIVX	0.09	0.01	(0.70)	(0.31)	(0.20)	0.29	(0.14)	0.72
LCCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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