Fidelity Real Correlations

FRIRX Fund

USD 12.11 0.02 0.17%

The current 90-days correlation between Fidelity Real Estate and Iaadx is -0.1 (i.e., Good 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

Very weak diversification

The correlation between Fidelity Real Estate and DJI is 0.53 (i.e., Very weak 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

0.91	FPTKX	Fidelity Freedom 2015	Pair Corr
0.88	FPURX	Fidelity Puritan	Pair Corr
0.88	FPUKX	Fidelity Puritan	Pair Corr
0.8	FPXTX	Fidelity Pennsylvania	Pair Corr
0.91	FQIFX	Fidelity Freedom Index	Pair Corr
0.89	FQIPX	Fidelity Freedom Index	Pair Corr
0.86	FQITX	Fidelity Salem Street	Pair Corr
0.88	FQLSX	Fidelity Flex Freedom	Pair Corr
0.86	FRBDX	Fidelity Freedom 2070	Pair Corr
0.86	FRBEX	Fidelity Freedom 2070	Pair Corr
0.89	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.86	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.89	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.87	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.89	FRBQX	Fidelity Flex Freedom	Pair Corr
0.87	FRBUX	Fidelity Freedom Index	Pair Corr
0.87	FRBWX	Fidelity Freedom Index	Pair Corr
0.86	FRBYX	Fidelity Freedom Blend	Pair Corr
0.88	FRBZX	Fidelity Freedom Blend	Pair Corr
0.88	FRAGX	Aggressive Growth	Pair Corr
0.9	FRAMX	Fidelity Income Repl	Pair Corr
0.91	FRASX	Fidelity Income Repl	Pair Corr
0.86	FRCHX	Fidelity Freedom Blend	Pair Corr
0.86	FRCLX	Fidelity Freedom Blend	Pair Corr
0.89	FRCQX	Fidelity Sustainable	Pair Corr
0.87	FRCRX	Fidelity Sustainable	Pair Corr
0.87	FRCWX	Fidelity Sustainable	Pair Corr
0.89	FRCYX	Fidelity Sustainable	Pair Corr
0.87	FRDCX	Fidelity Sustainable	Pair Corr
0.87	FRDDX	Fidelity Sustainable	Pair Corr
0.87	FRDEX	Fidelity Sustainable	Pair Corr
0.89	FRGAX	Growth Allocation Index	Pair Corr
0.82	FRESX	Fidelity Real Estate	Pair Corr
1.0	FRIFX	Fidelity Real Estate	Pair Corr
0.92	FRIMX	Fidelity Income Repl	Pair Corr
0.95	FRINX	Fidelity Real Estate	Pair Corr
1.0	FRIOX	Fidelity Real Estate	Pair Corr
0.95	FRIQX	Fidelity Real Estate	Pair Corr
0.89	FRHMX	Fidelity Managed Ret	Pair Corr
0.89	FRKMX	Fidelity Managed Ret	Pair Corr

Moving against Fidelity Mutual Fund

0.74

FRPCX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	IAADX	FFCGX	RPBAX	ABVCX	LMUSX	FKHEMX	FDZBPX
IAADX		0.96	0.97	0.96	0.94	0.94	0.95	IAADX
FFCGX	0.96		0.99	0.95	1.0	0.99	0.98	FFCGX
RPBAX	0.97	0.99		0.97	0.98	0.98	0.97	RPBAX
ABVCX	0.96	0.95	0.97		0.95	0.95	0.94	ABVCX
LMUSX	0.94	1.0	0.98	0.95		1.0	0.98	LMUSX
FKHEMX	0.94	0.99	0.98	0.95	1.0		0.98	FKHEMX
FDZBPX	0.95	0.98	0.97	0.94	0.98	0.98		FDZBPX
	IAADX	FFCGX	RPBAX	ABVCX	LMUSX	FKHEMX	FDZBPX

Click cells to compare fundamentals

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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
IAADX	0.15	0.09	(0.27)	(3.03)	0.00	(0.22)	0.34	(0.22)	0.90
FFCGX	0.50	0.14	0.13	0.34	0.16	(0.60)	1.65	(1.17)	3.47
RPBAX	0.38	0.14	(0.01)	(2.93)	0.21	(0.43)	1.23	(0.82)	2.54
ABVCX	0.57	0.14	(0.01)	(2.92)	0.59	(0.61)	1.42	(1.22)	4.39
LMUSX	0.64	0.11	0.10	0.25	0.52	(0.77)	1.85	(1.18)	4.81
FKHEMX	0.69	0.09	0.09	0.23	0.53	(0.78)	1.71	(1.39)	4.58
FDZBPX	0.39	0.06	(0.02)	0.27	0.25	(0.46)	1.18	(0.69)	2.90

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