Fidelity Sai Correlations

FIFGX Fund

USD 96.63 2.01 2.04%

The current 90-days correlation between Fidelity Sai Inflati and Vanguard Long Term Treasury 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

Very weak diversification

The correlation between Fidelity Sai Inflationfocused 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 Sai Inflationfocused 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 Inflationfocused. 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

0.75	FPTKX	Fidelity Freedom 2015	Pair Corr
0.68	FPUKX	Fidelity Puritan	Pair Corr
0.69	FPXTX	Fidelity Pennsylvania	Pair Corr
0.72	FQIFX	Fidelity Freedom Index	Pair Corr
0.72	FQIPX	Fidelity Freedom Index	Pair Corr
0.74	FQLSX	Fidelity Flex Freedom	Pair Corr
0.74	FRBHX	Fidelity Freedom 2070	Pair Corr
0.72	FRBUX	Fidelity Freedom Index	Pair Corr
0.72	FRBWX	Fidelity Freedom Index	Pair Corr
0.74	FRCFX	Fidelity Freedom Blend	Pair Corr
0.73	FRCKX	Fidelity Freedom Blend	Pair Corr
0.74	FRCNX	Fidelity Freedom Blend	Pair Corr
0.66	FRESX	Fidelity Real Estate	Pair Corr
0.74	FRIMX	Fidelity Income Repl	Pair Corr
0.65	FRIOX	Fidelity Real Estate	Pair Corr
0.74	FRHMX	Fidelity Managed Ret	Pair Corr
0.74	FRQIX	Fidelity Income Repl	Pair Corr
0.76	FAAIX	Fidelity Asset Manager	Pair Corr
0.65	FADMX	Fidelity Advisor Str	Pair Corr
0.67	FAGIX	Fidelity Capital Income	Pair Corr
0.72	FTF	Franklin Templeton	Pair Corr
0.67	FAHCX	Fidelity Advisor High	Pair Corr
0.78	FSAGX	Gold Portfolio Gold	Pair Corr
0.67	FSAKX	Strategic Advisers Total	Pair Corr
0.75	FSATX	Fidelity Asset Manager	Pair Corr
0.81	FSAWX	Fidelity Sai Convertible	Pair Corr
0.69	FSAZX	Fidelity Arizona Mun	Pair Corr
0.76	FAMRX	Fidelity Asset Manager	Pair Corr
0.8	FSCHX	Chemicals Portfolio	Pair Corr
0.69	FSCIX	Fidelity Advisor Small	Pair Corr
0.75	FSCNX	Fidelity Asset Manager	Pair Corr

Related Correlations Analysis

	QQQI	BTC	FASIX	BOND	FFVFX	VCRB	FDCAX	JBND	EQPGX	VUSUX
QQQI		0.11	0.78	0.56	0.79	0.55	0.66	0.43	0.9	-0.16	QQQI
BTC	0.11		-0.25	-0.25	-0.2	-0.3	-0.39	-0.43	0.45	0.63	BTC
FASIX	0.78	-0.25		0.88	1.0	0.82	0.92	0.71	0.57	-0.36	FASIX
BOND	0.56	-0.25	0.88		0.87	0.96	0.78	0.9	0.39	-0.09	BOND
FFVFX	0.79	-0.2	1.0	0.87		0.8	0.92	0.69	0.59	-0.35	FFVFX
VCRB	0.55	-0.3	0.82	0.96	0.8		0.72	0.96	0.37	-0.04	VCRB
FDCAX	0.66	-0.39	0.92	0.78	0.92	0.72		0.66	0.37	-0.6	FDCAX
JBND	0.43	-0.43	0.71	0.9	0.69	0.96	0.66		0.22	-0.08	JBND
EQPGX	0.9	0.45	0.57	0.39	0.59	0.37	0.37	0.22		0.19	EQPGX
VUSUX	-0.16	0.63	-0.36	-0.09	-0.35	-0.04	-0.6	-0.08	0.19		VUSUX
	QQQI	BTC	FASIX	BOND	FFVFX	VCRB	FDCAX	JBND	EQPGX	VUSUX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FFVFX	+ 1.0	FASIX
VCRB	+ 0.96	BOND
JBND	+ 0.96	VCRB
FDCAX	+ 0.92	FASIX
FDCAX	+ 0.92	FFVFX
EQPGX	+ 0.9	QQQI

High negative correlations

VUSUX	- 0.6	FDCAX
JBND	- 0.43	BTC
FDCAX	- 0.39	BTC
VUSUX	- 0.36	FASIX
VUSUX	- 0.35	FFVFX
VCRB	- 0.3	BTC

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
QQQI	0.63	(0.02)	(0.03)	0.00	0.98	(0.57)	1.20	(1.70)	4.27
BTC	2.22	(0.49)	0.00	(0.39)	0.00	0.00	4.06	(5.57)	12.79
FASIX	0.17	0.01	(0.09)	0.06	0.14	(0.19)	0.35	(0.35)	0.91
BOND	0.15	(0.01)	(0.19)	(0.04)	0.17	(0.17)	0.27	(0.34)	0.73
FFVFX	0.24	0.01	(0.05)	0.06	0.24	(0.27)	0.50	(0.50)	1.24
VCRB	0.14	(0.01)	(0.23)	(0.08)	0.17	(0.16)	0.28	(0.28)	0.76
FDCAX	0.73	0.15	0.13	0.23	0.82	(0.77)	1.17	(1.54)	7.71
JBND	0.15	(0.01)	(0.22)	(0.10)	0.18	(0.17)	0.30	(0.37)	0.82
EQPGX	0.73	(0.05)	0.00	(0.03)	0.00	0.00	1.32	(2.12)	4.84
VUSUX	0.36	(0.06)	0.00	(0.35)	0.00	0.00	0.50	(0.97)	2.00

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