Fidelity Sai Correlations

Mutual Funds . USA . 
Fund . Fidelity Sai High
FSHGX Fund  USD 9.38  0.02  0.21%   
The current 90-days correlation between Fidelity Sai High and Fidelity Freedom 2015 is 0.54 (i.e., Very weak 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

Poor diversification

The correlation between Fidelity Sai High and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai High 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 High. 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 price.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.66FPXTX Fidelity PennsylvaniaPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.76FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.96FRBDX Fidelity Freedom 2070PairCorr
  0.96FRBEX Fidelity Freedom 2070PairCorr
  0.96FRBHX Fidelity Freedom 2070PairCorr
  0.97FRBJX Fidelity Advisor FreedomPairCorr
  0.96FRBKX Fidelity Advisor FreedomPairCorr
  0.97FRBLX Fidelity Advisor FreedomPairCorr
  0.65FRBOX Fidelity Advisor FreedomPairCorr
  0.96FRBPX Fidelity Advisor FreedomPairCorr
  0.97FRBQX Fidelity Flex FreedomPairCorr
  0.96FRBUX Fidelity Freedom IndexPairCorr
  0.96FRBVX Fidelity Freedom IndexPairCorr
  0.96FRBWX Fidelity Freedom IndexPairCorr
  0.96FRBYX Fidelity Freedom BlendPairCorr
  0.97FRBZX Fidelity Freedom BlendPairCorr
  0.97FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.98FRASX Fidelity Income ReplPairCorr
  0.96FRCHX Fidelity Freedom BlendPairCorr
  0.96FRCLX Fidelity Freedom BlendPairCorr
  0.97FRCPX Fidelity Freedom BlendPairCorr
  0.96FRCQX Fidelity SustainablePairCorr
  0.95FRCRX Fidelity SustainablePairCorr
  0.96FRCVX Fidelity SustainablePairCorr
  0.95FRCWX Fidelity SustainablePairCorr
  0.96FRCYX Fidelity SustainablePairCorr
  0.95FRDCX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr
  0.95FRDEX Fidelity SustainablePairCorr
  0.97FRGAX Growth Allocation IndexPairCorr
  0.67FRESX Fidelity Real EstatePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.24  0.06 (0.10) 0.35  0.00 
(0.29)
 0.68 
(0.50)
 1.67 
FPURX  0.41  0.08  0.03  0.28  0.23 
(0.45)
 1.28 
(0.84)
 2.85 
FPUKX  0.41  0.08  0.03  0.27  0.25 
(0.46)
 1.32 
(0.88)
 2.90 
FPXTX  0.12 (0.01)(0.67) 0.01  0.10 
(0.18)
 0.30 
(0.20)
 0.89 
FQIFX  0.32  0.07 (0.02) 0.31  0.00 
(0.36)
 0.96 
(0.60)
 2.17 
FQIPX  0.47  0.11  0.10  0.31  0.30 
(0.57)
 1.48 
(1.18)
 3.29 
FQITX  0.56  0.05 (0.03) 0.26  0.64 
(0.60)
 1.27 
(1.14)
 3.58 
FQLSX  0.47  0.12  0.11  0.33  0.23 
(0.58)
 1.53 
(1.22)
 3.33 
FRBDX  0.48  0.23  0.11 (3.45) 0.26 
(0.60)
 1.61 
(1.11)
 3.27 
FRBEX  0.47  0.23  0.12 (4.14) 0.22 
(0.58)
 1.61 
(1.11)
 3.18 

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