Fidelity Strategic Correlations

Mutual Funds . USA . 
Fund . Fidelity Strategic Real
FSIRX Fund  USD 8.66  0.01  0.12%   
The current 90-days correlation between Fidelity Strategic Real and Fidelity Freedom 2015 is 0.51 (i.e., Very weak diversification). The correlation of Fidelity Strategic 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 Strategic Correlation With Market

Modest diversification

The correlation between Fidelity Strategic Real 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 Strategic Real 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 Strategic Real. 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

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.93FPURX Fidelity PuritanPairCorr
  0.93FPUKX Fidelity PuritanPairCorr
  0.7FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.93FQIPX Fidelity Freedom IndexPairCorr
  0.79FQITX Fidelity Salem StreetPairCorr
  0.93FQLSX Fidelity Flex FreedomPairCorr
  0.93FRBDX Fidelity Freedom 2070PairCorr
  0.93FRBEX Fidelity Freedom 2070PairCorr
  0.93FRBHX Fidelity Freedom 2070PairCorr
  0.93FRBJX Fidelity Advisor FreedomPairCorr
  0.93FRBKX Fidelity Advisor FreedomPairCorr
  0.93FRBLX Fidelity Advisor FreedomPairCorr
  0.93FRBPX Fidelity Advisor FreedomPairCorr
  0.93FRBQX Fidelity Flex FreedomPairCorr
  0.93FRBUX Fidelity Freedom IndexPairCorr
  0.93FRBWX Fidelity Freedom IndexPairCorr
  0.93FRBYX Fidelity Freedom BlendPairCorr
  0.93FRBZX Fidelity Freedom BlendPairCorr
  0.93FRAGX Aggressive GrowthPairCorr
  0.94FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.93FRCHX Fidelity Freedom BlendPairCorr
  0.93FRCLX Fidelity Freedom BlendPairCorr
  0.93FRCQX Fidelity SustainablePairCorr
  0.93FRCRX Fidelity SustainablePairCorr
  0.93FRCWX Fidelity SustainablePairCorr
  0.93FRCYX Fidelity SustainablePairCorr
  0.93FRDCX Fidelity SustainablePairCorr
  0.93FRDDX Fidelity SustainablePairCorr
  0.93FRDEX Fidelity SustainablePairCorr
  0.93FRGAX Growth Allocation IndexPairCorr
  0.69FRESX Fidelity Real EstatePairCorr
  0.92FRIFX Fidelity Real EstatePairCorr
  0.94FRIMX Fidelity Income ReplPairCorr
  0.92FRINX Fidelity Real EstatePairCorr
  0.92FRIOX Fidelity Real EstatePairCorr
  0.92FRIQX Fidelity Real EstatePairCorr
  0.94FRHMX Fidelity Managed RetPairCorr

Moving against Fidelity Mutual Fund

  0.83FRPCX Fidelity Sai AlternativePairCorr

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 Strategic 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 Strategic'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 (0.09) 0.35  0.00 
(0.29)
 0.68 
(0.50)
 1.67 
FPURX  0.41  0.08  0.04  0.28  0.23 
(0.45)
 1.28 
(0.84)
 2.85 
FPUKX  0.41  0.08  0.03  0.27  0.25 
(0.45)
 1.32 
(0.88)
 2.90 
FPXTX  0.12 (0.01)(0.66)(0.06) 0.11 
(0.17)
 0.30 
(0.20)
 0.89 
FQIFX  0.31  0.07 (0.02) 0.30  0.00 
(0.36)
 0.96 
(0.60)
 2.17 
FQIPX  0.47  0.12  0.10  0.31  0.29 
(0.57)
 1.48 
(1.18)
 3.29 
FQITX  0.56  0.06 (0.03) 0.27  0.64 
(0.60)
 1.27 
(1.14)
 3.58 
FQLSX  0.47  0.13  0.12  0.33  0.24 
(0.58)
 1.53 
(1.22)
 3.33 
FRBDX  0.48  0.13  0.12  0.34  0.26 
(0.60)
 1.61 
(1.11)
 3.27 
FRBEX  0.47  0.14  0.13  0.34  0.22 
(0.58)
 1.61 
(1.11)
 3.18 

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