Fidelity Total Correlations

Mutual Funds . USA . 
Fund . Fidelity Total Bond
FBKWX Fund  USD 9.60  0.03  0.31%   
The current 90-days correlation between Fidelity Total Bond and Avantis Large Cap is -0.17 (i.e., Good diversification). The correlation of Fidelity Total 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 Total Correlation With Market

Average diversification

The correlation between Fidelity Total Bond and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Total Bond 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 Total Bond. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Fidelity Mutual Fund

  0.99MWTNX Metropolitan West TotalPairCorr
  0.99MWTSX Metropolitan West TotalPairCorr
  0.99PTTPX Pimco Total ReturnPairCorr
  0.99PTRRX Total ReturnPairCorr
  0.99PTRAX Total ReturnPairCorr
  0.99PTTRX Total ReturnPairCorr
  1.0FIWGX Strategic AdvisersPairCorr
  1.0DODIX Dodge IncomePairCorr
  0.99MWTIX Metropolitan West TotalPairCorr
  0.99MWTRX Metropolitan West TotalPairCorr
  0.88MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Moving against Fidelity Mutual Fund

  0.71VFFSX Vanguard 500 IndexPairCorr
  0.71VFIAX Vanguard 500 IndexPairCorr
  0.71VINIX Vanguard InstitutionalPairCorr
  0.7VSTSX Vanguard Total StockPairCorr
  0.7VSMPX Vanguard Total StockPairCorr
  0.7VITSX Vanguard Total StockPairCorr
  0.81CSCO Cisco Systems Sell-off TrendPairCorr
  0.74AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.73CVX Chevron Corp Sell-off TrendPairCorr
  0.73JPM JPMorgan Chase Sell-off TrendPairCorr
  0.72HPQ HP IncPairCorr
  0.7VTSAX Vanguard Total StockPairCorr
  0.65TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.63XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.62INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.58CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.55WMT Walmart Aggressive PushPairCorr
  0.55DIS Walt Disney Sell-off TrendPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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