Fidelity Sai Correlations

Mutual Funds . USA . 
Fund . Fidelity Sai Long Term
FBLTX Fund  USD 6.91  0.07  1.00%   
The current 90-days correlation between Fidelity Sai Long and Fidelity Intermediate Treasury is 0.88 (i.e., Very poor 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

Good diversification

The correlation between Fidelity Sai Long Term and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai Long 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 Sai Long 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 estimate.

Moving together with Fidelity Mutual Fund

  0.77FQITX Fidelity Salem StreetPairCorr
  0.82FRAMX Fidelity Income ReplPairCorr
  0.72FRASX Fidelity Income ReplPairCorr
  0.7FRESX Fidelity Real EstatePairCorr
  0.84FRIFX Fidelity Real EstatePairCorr
  0.81FRIMX Fidelity Income ReplPairCorr
  0.86FRINX Fidelity Real EstatePairCorr
  0.89FRIOX Fidelity Real EstatePairCorr
  0.86FRIQX Fidelity Real EstatePairCorr
  0.8FRHMX Fidelity Managed RetPairCorr
  0.81FRKMX Fidelity Managed RetPairCorr
  0.84FRIRX Fidelity Real EstatePairCorr
  0.63FROGX Fidelity Municipal IncomePairCorr
  0.79FRQHX Fidelity Managed RetPairCorr
  0.8FRQIX Fidelity Income ReplPairCorr
  0.8FRQKX Fidelity Managed RetPairCorr
  0.81FRQAX Fidelity Income ReplPairCorr
  0.67FACTX Fidelity Advisor HealthPairCorr
  0.78FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.6FRPCX Fidelity Sai AlternativePairCorr
  0.54FPURX Fidelity PuritanPairCorr
  0.54FPUKX Fidelity PuritanPairCorr
  0.43FRAGX Aggressive GrowthPairCorr
  0.33FQLSX Fidelity Flex FreedomPairCorr
  0.71FACGX Fidelity Advisor GrowthPairCorr
  0.71FADTX Fidelity Advisor TecPairCorr
  0.71FAFSX Fidelity Advisor FinPairCorr
  0.71FAFDX Fidelity Advisor FinPairCorr
  0.71FAFCX Fidelity Advisor FinPairCorr
  0.71FAGOX Fidelity Advisor GrowthPairCorr
  0.71FAGCX Fidelity Advisor GrowthPairCorr
  0.71FAGAX Fidelity Advisor GrowthPairCorr
  0.67FADAX Fidelity Advisor DividendPairCorr
  0.65FAGKX Fidelity Growth StraPairCorr

Related Correlations Analysis

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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.

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