Fidelity Real Correlations

FRIQX Fund

USD 12.25 0.04 0.33%

The current 90-days correlation between Fidelity Real Estate and Alternative Asset Allocation is 0.32 (i.e., Weak diversification). The correlation of Fidelity Real 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 Real Correlation With Market

Significant diversification

The correlation between Fidelity Real Estate and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Real Estate 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 Real Estate. 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 producer price index.

Moving together with Fidelity Mutual Fund

0.72	FPTKX	Fidelity Freedom 2015	Pair Corr
0.66	FPXTX	Fidelity Pennsylvania	Pair Corr
0.78	FRASX	Fidelity Income Repl	Pair Corr
0.89	FRESX	Fidelity Real Estate	Pair Corr
1.0	FRIFX	Fidelity Real Estate	Pair Corr
0.8	FRIMX	Fidelity Income Repl	Pair Corr
1.0	FRINX	Fidelity Real Estate	Pair Corr
0.99	FRIOX	Fidelity Real Estate	Pair Corr
0.81	FRHMX	Fidelity Managed Ret	Pair Corr
0.8	FRKMX	Fidelity Managed Ret	Pair Corr
1.0	FRIRX	Fidelity Real Estate	Pair Corr
0.67	FROGX	Fidelity Municipal Income	Pair Corr
0.8	FRQHX	Fidelity Managed Ret	Pair Corr
0.8	FRQIX	Fidelity Income Repl	Pair Corr

Moving against Fidelity Mutual Fund

0.34	FAGNX	Fidelity Advisor Energy	Pair Corr
0.34	FANIX	Fidelity Advisor Energy	Pair Corr
0.34	FANAX	Fidelity Advisor Energy	Pair Corr

Related Correlations Analysis

	JAAIX	PHJFX	VBFIX	OWLSX	LMUSX	TADGX
JAAIX		0.73	0.89	0.88	0.8	0.85	JAAIX
PHJFX	0.73		0.85	0.52	0.34	0.68	PHJFX
VBFIX	0.89	0.85		0.86	0.71	0.82	VBFIX
OWLSX	0.88	0.52	0.86		0.96	0.85	OWLSX
LMUSX	0.8	0.34	0.71	0.96		0.8	LMUSX
TADGX	0.85	0.68	0.82	0.85	0.8		TADGX
	JAAIX	PHJFX	VBFIX	OWLSX	LMUSX	TADGX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Real 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 Real'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
JAAIX	0.15	(0.01)	(0.46)	0.08	0.05	(0.19)	0.37	(0.31)	0.87
PHJFX	0.22	(0.02)	(0.35)	0.02	0.23	(0.26)	0.47	(0.56)	1.22
VBFIX	0.35	(0.03)	(0.21)	0.05	0.39	(0.40)	0.70	(0.79)	2.01
OWLSX	0.50	(0.02)	(0.07)	0.08	0.63	(0.56)	1.02	(1.18)	3.30
LMUSX	0.61	0.02	0.02	0.14	0.73	(0.70)	1.28	(1.49)	4.08
TADGX	0.48	(0.04)	(0.11)	0.06	0.51	(0.51)	0.99	(0.94)	2.87

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