Fidelity Income Correlations

FRIMX Fund

USD 59.74 0.23 0.39%

The current 90-days correlation between Fidelity Income Repl and Parametric Dividend Income is -0.23 (i.e., Very good diversification). The correlation of Fidelity Income 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 Income Correlation With Market

Almost no diversification

The correlation between Fidelity Income Replacement and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Income Replacement 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 Income Replacement. 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 industry.

Moving together with Fidelity Mutual Fund

0.97	FPTKX	Fidelity Freedom 2015	Pair Corr
0.97	FPURX	Fidelity Puritan	Pair Corr
0.97	FPUKX	Fidelity Puritan	Pair Corr
0.87	FPXTX	Fidelity Pennsylvania	Pair Corr
0.99	FQIFX	Fidelity Freedom Index	Pair Corr
0.98	FQIPX	Fidelity Freedom Index	Pair Corr
0.97	FQITX	Fidelity Salem Street	Pair Corr
0.99	FQLSX	Fidelity Flex Freedom	Pair Corr
0.99	FRBDX	Fidelity Freedom 2070	Pair Corr
0.99	FRBEX	Fidelity Freedom 2070	Pair Corr
0.99	FRBHX	Fidelity Freedom 2070	Pair Corr
0.99	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.99	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.99	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.99	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.99	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.99	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.99	FRBQX	Fidelity Flex Freedom	Pair Corr
0.98	FRBUX	Fidelity Freedom Index	Pair Corr
0.98	FRBVX	Fidelity Freedom Index	Pair Corr
0.98	FRBWX	Fidelity Freedom Index	Pair Corr
0.99	FRBYX	Fidelity Freedom Blend	Pair Corr
0.99	FRBZX	Fidelity Freedom Blend	Pair Corr
0.98	FRAGX	Aggressive Growth	Pair Corr
1.0	FRAMX	Fidelity Income Repl	Pair Corr
1.0	FRASX	Fidelity Income Repl	Pair Corr
0.95	FRCFX	Fidelity Freedom Blend	Pair Corr
0.99	FRCHX	Fidelity Freedom Blend	Pair Corr
0.99	FRCJX	Fidelity Freedom Blend	Pair Corr
0.99	FRCKX	Fidelity Freedom Blend	Pair Corr
0.99	FRCLX	Fidelity Freedom Blend	Pair Corr
0.99	FRCNX	Fidelity Freedom Blend	Pair Corr
0.99	FRCPX	Fidelity Freedom Blend	Pair Corr
0.98	FRCQX	Fidelity Sustainable	Pair Corr
0.98	FRCRX	Fidelity Sustainable	Pair Corr
0.98	FRCVX	Fidelity Sustainable	Pair Corr
0.98	FRCWX	Fidelity Sustainable	Pair Corr
0.98	FRCYX	Fidelity Sustainable	Pair Corr
0.98	FRDCX	Fidelity Sustainable	Pair Corr
0.98	FRDDX	Fidelity Sustainable	Pair Corr

Related Correlations Analysis

	FIRMX	FIRVX	PACJX	GAAEX	RCG	IASMX	GGM	CNGLX	FSIKX	EAPDX
FIRMX		1.0	0.97	0.91	0.53	0.94	0.94	0.9	0.92	-0.1	FIRMX
FIRVX	1.0		0.98	0.92	0.53	0.94	0.95	0.91	0.92	-0.11	FIRVX
PACJX	0.97	0.98		0.89	0.47	0.91	0.96	0.93	0.85	-0.14	PACJX
GAAEX	0.91	0.92	0.89		0.57	0.84	0.91	0.77	0.85	-0.27	GAAEX
RCG	0.53	0.53	0.47	0.57		0.6	0.44	0.49	0.6	0.27	RCG
IASMX	0.94	0.94	0.91	0.84	0.6		0.88	0.93	0.9	-0.07	IASMX
GGM	0.94	0.95	0.96	0.91	0.44	0.88		0.89	0.83	-0.25	GGM
CNGLX	0.9	0.91	0.93	0.77	0.49	0.93	0.89		0.81	-0.06	CNGLX
FSIKX	0.92	0.92	0.85	0.85	0.6	0.9	0.83	0.81		0.0	FSIKX
EAPDX	-0.1	-0.11	-0.14	-0.27	0.27	-0.07	-0.25	-0.06	0.0		EAPDX
	FIRMX	FIRVX	PACJX	GAAEX	RCG	IASMX	GGM	CNGLX	FSIKX	EAPDX

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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

FIRVX	+ 1.0	FIRMX
PACJX	+ 0.98	FIRVX
PACJX	+ 0.97	FIRMX
GGM	+ 0.96	PACJX
GGM	+ 0.95	FIRVX
IASMX	+ 0.94	FIRMX

High negative correlations

EAPDX	- 0.27	GAAEX
EAPDX	- 0.25	GGM
EAPDX	- 0.14	PACJX
EAPDX	- 0.11	FIRVX
EAPDX	- 0.1	FIRMX
EAPDX	- 0.07	IASMX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Income 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 Income'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
FIRMX	0.15	0.01	(0.30)	0.11	0.06	(0.17)	0.36	(0.30)	0.86
FIRVX	0.22	0.01	(0.17)	0.11	0.19	(0.25)	0.49	(0.46)	1.20
PACJX	0.53	0.00	(0.03)	0.08	0.66	(0.54)	1.01	(1.06)	2.87
GAAEX	0.95	0.01	0.01	0.09	1.16	(1.02)	1.88	(2.15)	4.79
RCG	1.29	0.08	(0.01)	(0.25)	1.40	(1.60)	2.77	(2.34)	6.08
IASMX	0.81	0.12	0.09	0.36	0.61	(1.00)	1.61	(1.27)	7.84
GGM	0.69	(0.01)	(0.02)	0.07	0.79	(0.72)	1.50	(1.49)	3.50
CNGLX	0.61	0.03	0.01	0.12	0.67	(0.67)	1.15	(1.19)	5.46
FSIKX	0.06	0.01	(0.48)	3.16	0.00	(0.14)	0.19	(0.10)	0.58
EAPDX	0.18	0.03	(0.06)	(0.45)	0.21	(0.52)	0.62	(0.19)	3.21

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