Fidelity Managed Correlations

FRQKX Fund

USD 54.16 0.09 0.17%

The current 90-days correlation between Fidelity Managed Ret and Inflation Protected Bond Fund is 0.08 (i.e., Significant diversification). The correlation of Fidelity Managed 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 Managed Correlation With Market

Average diversification

The correlation between Fidelity Managed Retirement and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Managed Retirement 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 Managed Retirement. 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 industry.

Moving together with Fidelity Mutual Fund

0.99	FSNKX	Fidelity Freedom 2010	Pair Corr
0.81	AAATX	American Funds 2010	Pair Corr
0.7	FAATX	American Funds 2010	Pair Corr
0.86	CCATX	American Funds 2010	Pair Corr
0.99	FFFCX	Fidelity Freedom 2010	Pair Corr
0.99	FOTKX	Fidelity Freedom 2010	Pair Corr
0.8	REATX	American Funds 2010	Pair Corr
0.85	RAATX	American Funds 2010	Pair Corr
0.7	XDSMX	Dreyfus Strategic	Pair Corr
0.71	XNXJX	Nuveen New Jersey	Pair Corr
0.77	NXJ	Nuveen New Jersey	Pair Corr
0.76	XNBHX	Neuberger Berman Int	Pair Corr
0.69	KO	Coca Cola Sell-off Trend	Pair Corr
0.72	VZ	Verizon Communications Aggressive Push	Pair Corr
0.75	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against Fidelity Mutual Fund

0.44	XPPRX	Voya Prime Rate	Pair Corr
0.45	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.45	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.33	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	IPBAX	OMIAX	OKMUX	PATIX	TIMTX	TFBIX	MDMTX
IPBAX		0.17	-0.02	0.13	0.14	0.2	-0.15	IPBAX
OMIAX	0.17		0.93	0.95	0.97	0.94	0.85	OMIAX
OKMUX	-0.02	0.93		0.91	0.95	0.91	0.95	OKMUX
PATIX	0.13	0.95	0.91		0.93	0.92	0.8	PATIX
TIMTX	0.14	0.97	0.95	0.93		0.98	0.88	TIMTX
TFBIX	0.2	0.94	0.91	0.92	0.98		0.83	TFBIX
MDMTX	-0.15	0.85	0.95	0.8	0.88	0.83		MDMTX
	IPBAX	OMIAX	OKMUX	PATIX	TIMTX	TFBIX	MDMTX

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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

TFBIX	+ 0.98	TIMTX
TIMTX	+ 0.97	OMIAX
PATIX	+ 0.95	OMIAX
TIMTX	+ 0.95	OKMUX
MDMTX	+ 0.95	OKMUX
TFBIX	+ 0.94	OMIAX

High negative correlations

MDMTX	- 0.15	IPBAX
OKMUX	- 0.02	IPBAX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Managed 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 Managed'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
IPBAX	0.33	(0.02)	(0.18)	0.07	0.33	(0.39)	0.59	(0.58)	1.94
OMIAX	0.14	0.01	(0.34)	(0.02)	0.20	(0.20)	0.29	(0.29)	1.35
OKMUX	0.15	0.01	(0.23)	0.00	0.23	(0.27)	0.29	(0.47)	1.52
PATIX	0.06	0.00	(0.33)	0.10	0.08	(0.20)	0.18	(0.18)	0.73
TIMTX	0.15	0.02	(0.29)	(0.08)	0.19	(0.21)	0.37	(0.28)	1.40
TFBIX	0.16	0.02	(0.26)	(0.11)	0.19	(0.23)	0.40	(0.39)	1.58
MDMTX	0.17	0.01	(0.28)	0.01	0.24	(0.23)	0.38	(0.56)	1.33

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