Fidelity Intermediate Correlations

Mutual Funds . USA . 
Fund . Fidelity Intermediate Municipal
FLTMX Fund  USD 9.98  0.01  0.10%   
The current 90-days correlation between Fidelity Intermediate and Fidelity Limited Term is 0.96 (i.e., Almost no diversification). The correlation of Fidelity Intermediate 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 Intermediate Correlation With Market

Very good diversification

The correlation between Fidelity Intermediate Municipa and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Intermediate Municipa 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 Intermediate Municipal. 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 population.

Moving together with Fidelity Mutual Fund

  0.85FPXTX Fidelity PennsylvaniaPairCorr
  0.68FRBDX Fidelity Freedom 2070PairCorr
  0.68FRBEX Fidelity Freedom 2070PairCorr
  0.67FRBHX Fidelity Freedom 2070PairCorr
  0.67FRBJX Fidelity Advisor FreedomPairCorr
  0.68FRBKX Fidelity Advisor FreedomPairCorr
  0.67FRBOX Fidelity Advisor FreedomPairCorr
  0.69FRBQX Fidelity Flex FreedomPairCorr
  0.68FRBUX Fidelity Freedom IndexPairCorr
  0.68FRBVX Fidelity Freedom IndexPairCorr
  0.68FRBWX Fidelity Freedom IndexPairCorr
  0.68FRBYX Fidelity Freedom BlendPairCorr
  0.81FRAMX Fidelity Income ReplPairCorr
  0.62FRASX Fidelity Income ReplPairCorr
  0.68FRCFX Fidelity Freedom BlendPairCorr
  0.69FRCKX Fidelity Freedom BlendPairCorr
  0.68FRCLX Fidelity Freedom BlendPairCorr
  0.68FRCNX Fidelity Freedom BlendPairCorr
  0.69FRCPX Fidelity Freedom BlendPairCorr
  0.67FRCQX Fidelity SustainablePairCorr
  0.67FRCRX Fidelity SustainablePairCorr
  0.67FRCVX Fidelity SustainablePairCorr
  0.68FRCWX Fidelity SustainablePairCorr
  0.68FRCYX Fidelity SustainablePairCorr
  0.68FRDCX Fidelity SustainablePairCorr
  0.67FRDDX Fidelity SustainablePairCorr
  0.67FRDEX Fidelity SustainablePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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