Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex Bond
FIBUX Fund  USD 9.07  0.01  0.11%   
The current 90-days correlation between Fidelity Flex Bond and Fidelity Investment Grade is 0.97 (i.e., Almost no diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Modest diversification

The correlation between Fidelity Flex Bond 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 Flex 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 Flex Bond. 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 employment.

Moving together with Fidelity Mutual Fund

  0.71FPTKX Fidelity Freedom 2015PairCorr
  0.65FPURX Fidelity PuritanPairCorr
  0.65FPUKX Fidelity PuritanPairCorr
  0.66FPXTX Fidelity PennsylvaniaPairCorr
  0.69FQIFX Fidelity Freedom IndexPairCorr
  0.62FQIPX Fidelity Freedom IndexPairCorr
  0.62FQLSX Fidelity Flex FreedomPairCorr
  0.61FRBDX Fidelity Freedom 2070PairCorr
  0.61FRBEX Fidelity Freedom 2070PairCorr
  0.61FRBHX Fidelity Freedom 2070PairCorr
  0.61FRBJX Fidelity Advisor FreedomPairCorr
  0.61FRBKX Fidelity Advisor FreedomPairCorr
  0.61FRBLX Fidelity Advisor FreedomPairCorr
  0.61FRBOX Fidelity Advisor FreedomPairCorr
  0.61FRBPX Fidelity Advisor FreedomPairCorr
  0.63FRBQX Fidelity Flex FreedomPairCorr
  0.62FRBUX Fidelity Freedom IndexPairCorr
  0.63FRBVX Fidelity Freedom IndexPairCorr
  0.63FRBWX Fidelity Freedom IndexPairCorr
  0.62FRBYX Fidelity Freedom BlendPairCorr
  0.62FRBZX Fidelity Freedom BlendPairCorr
  0.62FRAGX Aggressive GrowthPairCorr
  0.78FRAMX Fidelity Income ReplPairCorr
  0.75FRASX Fidelity Income ReplPairCorr
  0.62FRCFX Fidelity Freedom BlendPairCorr
  0.61FRCHX Fidelity Freedom BlendPairCorr
  0.61FRCKX Fidelity Freedom BlendPairCorr
  0.62FRCLX Fidelity Freedom BlendPairCorr
  0.62FRCNX Fidelity Freedom BlendPairCorr
  0.62FRCPX Fidelity Freedom BlendPairCorr
  0.61FRCQX Fidelity SustainablePairCorr
  0.61FRCRX Fidelity SustainablePairCorr
  0.61FRCVX Fidelity SustainablePairCorr
  0.61FRCWX Fidelity SustainablePairCorr
  0.61FRCYX Fidelity SustainablePairCorr
  0.61FRDCX Fidelity SustainablePairCorr
  0.61FRDDX Fidelity SustainablePairCorr
  0.61FRDEX Fidelity SustainablePairCorr
  0.64FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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