Fidelity Sai Correlations

FRPDX Fund

10.07 0.02 0.20%

The current 90-days correlation between Fidelity Sai Alternative and Fidelity Freedom 2015 is -0.05 (i.e., Good 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

Significant diversification

The correlation between Fidelity Sai Alternative and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai Alternative 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 Alternative. 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 unemployment.

Moving together with Fidelity Mutual Fund

0.62	FPURX	Fidelity Puritan	Pair Corr
0.63	FPUKX	Fidelity Puritan	Pair Corr
0.61	FQIPX	Fidelity Freedom Index	Pair Corr
0.61	FQITX	Fidelity Salem Street	Pair Corr
0.61	FQLSX	Fidelity Flex Freedom	Pair Corr
0.94	FRBHX	Fidelity Freedom 2070	Pair Corr
0.94	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.93	FRBVX	Fidelity Freedom Index	Pair Corr
0.93	FRBWX	Fidelity Freedom Index	Pair Corr
0.61	FRAGX	Aggressive Growth	Pair Corr
0.93	FRCFX	Fidelity Freedom Blend	Pair Corr
0.93	FRCKX	Fidelity Freedom Blend	Pair Corr
0.93	FRCNX	Fidelity Freedom Blend	Pair Corr
0.93	FRCPX	Fidelity Freedom Blend	Pair Corr
0.94	FRCVX	Fidelity Sustainable	Pair Corr
0.62	FRDDX	Fidelity Sustainable	Pair Corr
0.94	FRDEX	Fidelity Sustainable	Pair Corr
0.61	FRIFX	Fidelity Real Estate	Pair Corr
0.64	FRIRX	Fidelity Real Estate	Pair Corr
0.67	FROGX	Fidelity Municipal Income	Pair Corr

Moving against Fidelity Mutual Fund

0.86

FRPCX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRBDX	FRBEX
FPTKX		0.99	0.99	0.5	1.0	0.99	0.72	0.99	0.85	0.87	FPTKX
FPURX	0.99		1.0	0.49	1.0	1.0	0.73	1.0	0.87	0.88	FPURX
FPUKX	0.99	1.0		0.49	1.0	1.0	0.73	1.0	0.87	0.88	FPUKX
FPXTX	0.5	0.49	0.49		0.5	0.47	0.44	0.47	0.29	0.29	FPXTX
FQIFX	1.0	1.0	1.0	0.5		0.99	0.73	0.99	0.86	0.87	FQIFX
FQIPX	0.99	1.0	1.0	0.47	0.99		0.76	1.0	0.87	0.88	FQIPX
FQITX	0.72	0.73	0.73	0.44	0.73	0.76		0.77	0.57	0.58	FQITX
FQLSX	0.99	1.0	1.0	0.47	0.99	1.0	0.77		0.87	0.88	FQLSX
FRBDX	0.85	0.87	0.87	0.29	0.86	0.87	0.57	0.87		0.99	FRBDX
FRBEX	0.87	0.88	0.88	0.29	0.87	0.88	0.58	0.88	0.99		FRBEX
	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRBDX	FRBEX

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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
FPTKX	0.22	0.07	(0.19)	0.50	0.00	(0.27)	0.53	(0.50)	1.67
FPURX	0.35	0.11	0.00	0.45	0.00	(0.41)	0.92	(0.43)	2.85
FPUKX	0.35	0.10	0.00	0.44	0.00	(0.41)	0.96	(0.43)	2.90
FPXTX	0.11	0.00	(1.03)	0.21	0.00	(0.17)	0.30	(0.20)	0.89
FQIFX	0.28	0.08	(0.09)	0.45	0.00	(0.33)	0.77	(0.50)	2.14
FQIPX	0.41	0.13	0.06	0.44	0.00	(0.51)	1.42	(0.83)	3.29
FQITX	0.54	0.03	(0.09)	0.25	0.66	(0.57)	1.24	(1.14)	3.58
FQLSX	0.41	0.14	0.08	0.46	0.00	(0.53)	1.42	(0.80)	3.33
FRBDX	0.42	0.23	0.08	(2.63)	0.00	(0.56)	1.49	(0.79)	3.27
FRBEX	0.40	0.12	0.04	0.46	0.00	(0.51)	1.27	(0.79)	3.18

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