Fidelity Sai Correlations

FSKLX Fund

USD 10.83 0.02 0.19%

The current 90-days correlation between Fidelity Sai Interna and Fidelity Emerging Markets is 0.68 (i.e., 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

Modest diversification

The correlation between Fidelity Sai International and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai International 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 International. 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 economic analysis.

Moving together with Fidelity Mutual Fund

0.69	FPTKX	Fidelity Freedom 2015	Pair Corr
0.96	FQITX	Fidelity Salem Street	Pair Corr
0.78	FRAMX	Fidelity Income Repl	Pair Corr
0.72	FRASX	Fidelity Income Repl	Pair Corr
0.67	FRESX	Fidelity Real Estate	Pair Corr
0.74	FRIFX	Fidelity Real Estate	Pair Corr
0.76	FRIMX	Fidelity Income Repl	Pair Corr
0.76	FRINX	Fidelity Real Estate	Pair Corr
0.8	FRIOX	Fidelity Real Estate	Pair Corr
0.76	FRIQX	Fidelity Real Estate	Pair Corr
0.75	FRHMX	Fidelity Managed Ret	Pair Corr
0.76	FRKMX	Fidelity Managed Ret	Pair Corr
0.75	FRIRX	Fidelity Real Estate	Pair Corr
0.75	FRQHX	Fidelity Managed Ret	Pair Corr
0.76	FRQIX	Fidelity Income Repl	Pair Corr
0.76	FRQKX	Fidelity Managed Ret	Pair Corr
0.78	FRQAX	Fidelity Income Repl	Pair Corr
0.8	FACTX	Fidelity Advisor Health	Pair Corr
0.8	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.51	FPURX	Fidelity Puritan	Pair Corr
0.51	FPUKX	Fidelity Puritan	Pair Corr
0.89	FRPCX	Fidelity Sai Alternative	Pair Corr
0.45	FABCX	Fidelity Advisor Balanced	Pair Corr
0.33	FABLX	Fidelity Advisor Balanced	Pair Corr
0.77	FACGX	Fidelity Advisor Growth	Pair Corr
0.76	FADTX	Fidelity Advisor Tec	Pair Corr
0.72	FACVX	Fidelity Vertible	Pair Corr
0.66	FAFSX	Fidelity Advisor Fin	Pair Corr
0.6	FACPX	Fidelity Advisor Sumer	Pair Corr
0.56	FADAX	Fidelity Advisor Dividend	Pair Corr

Related Correlations Analysis

	FPADX	FSSNX	FXNAX	FSMDX	FSMAX
FPADX		-0.51	0.64	-0.49	-0.68	FPADX
FSSNX	-0.51		-0.24	0.98	0.96	FSSNX
FXNAX	0.64	-0.24		-0.21	-0.36	FXNAX
FSMDX	-0.49	0.98	-0.21		0.95	FSMDX
FSMAX	-0.68	0.96	-0.36	0.95		FSMAX
	FPADX	FSSNX	FXNAX	FSMDX	FSMAX

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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

FSMDX	+ 0.98	FSSNX
FSMAX	+ 0.96	FSSNX
FSMAX	+ 0.95	FSMDX
FXNAX	+ 0.64	FPADX

High negative correlations

FSMAX	- 0.68	FPADX
FSSNX	- 0.51	FPADX
FSMDX	- 0.49	FPADX
FSMAX	- 0.36	FXNAX
FXNAX	- 0.24	FSSNX
FSMDX	- 0.21	FXNAX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FPADX	0.76	(0.08)	0.00	(0.28)	0.00	0.00	1.46	(1.87)	5.79
FSSNX	0.89	(0.03)	(0.01)	0.01	1.18	(0.92)	1.83	(1.58)	10.23
FXNAX	0.24	(0.06)	0.00	(3.80)	0.00	0.00	0.48	(0.58)	1.46
FSMDX	0.60	(0.03)	(0.03)	0.01	0.81	(0.67)	1.26	(0.92)	6.41
FSMAX	0.82	0.05	0.05	0.07	1.04	(0.88)	1.71	(1.21)	9.12

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