Fidelity Bond Correlations

Mutual Funds . USA . 
Fund . Fidelity Bond Index
FXNAX Fund  USD 10.34  0.02  0.19%   
The current 90-days correlation between Fidelity Bond Index and Fidelity International Index is 0.3 (i.e., Weak diversification). The correlation of Fidelity Bond 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 Bond Correlation With Market

Modest diversification

The correlation between Fidelity Bond Index and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Bond Index 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 Bond Index. 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 nation.

Moving together with Fidelity Mutual Fund

  0.7FPTKX Fidelity Freedom 2015PairCorr
  0.64FPURX Fidelity PuritanPairCorr
  0.65FPUKX Fidelity PuritanPairCorr
  0.65FPXTX Fidelity PennsylvaniaPairCorr
  0.68FQIFX Fidelity Freedom IndexPairCorr
  0.62FQIPX Fidelity Freedom IndexPairCorr
  0.61FQLSX Fidelity Flex FreedomPairCorr
  0.61FRBJX Fidelity Advisor FreedomPairCorr
  0.61FRBOX Fidelity Advisor FreedomPairCorr
  0.61FRBPX Fidelity Advisor FreedomPairCorr
  0.62FRBQX Fidelity Flex FreedomPairCorr
  0.62FRBUX Fidelity Freedom IndexPairCorr
  0.62FRBVX Fidelity Freedom IndexPairCorr
  0.62FRBWX Fidelity Freedom IndexPairCorr
  0.61FRBYX Fidelity Freedom BlendPairCorr
  0.61FRBZX Fidelity Freedom BlendPairCorr
  0.62FRAGX Aggressive GrowthPairCorr
  0.78FRAMX Fidelity Income ReplPairCorr
  0.74FRASX Fidelity Income ReplPairCorr
  0.61FRCFX Fidelity Freedom BlendPairCorr
  0.61FRCHX Fidelity Freedom BlendPairCorr
  0.61FRCLX Fidelity Freedom BlendPairCorr
  0.61FRCNX Fidelity Freedom BlendPairCorr
  0.61FRCPX Fidelity Freedom BlendPairCorr
  0.63FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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