Correlation Between Fidelity Sai and Ab Municipal
Can any of the company-specific risk be diversified away by investing in both Fidelity Sai and Ab Municipal at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fidelity Sai and Ab Municipal into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelity Sai Inflationfocused and Ab Municipal Bond, you can compare the effects of market volatilities on Fidelity Sai and Ab Municipal and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fidelity Sai with a short position of Ab Municipal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity Sai and Ab Municipal.
Diversification Opportunities for Fidelity Sai and Ab Municipal
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Fidelity and AUNCX is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai Inflationfocused and Ab Municipal Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab Municipal Bond and Fidelity Sai is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fidelity Sai Inflationfocused are associated (or correlated) with Ab Municipal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Municipal Bond has no effect on the direction of Fidelity Sai i.e., Fidelity Sai and Ab Municipal go up and down completely randomly.
Pair Corralation between Fidelity Sai and Ab Municipal
Assuming the 90 days horizon Fidelity Sai Inflationfocused is expected to generate 10.83 times more return on investment than Ab Municipal. However, Fidelity Sai is 10.83 times more volatile than Ab Municipal Bond. It trades about 0.05 of its potential returns per unit of risk. Ab Municipal Bond is currently generating about 0.02 per unit of risk. If you would invest 8,634 in Fidelity Sai Inflationfocused on September 12, 2025 and sell it today you would earn a total of 252.00 from holding Fidelity Sai Inflationfocused or generate 2.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fidelity Sai Inflationfocused vs. Ab Municipal Bond
Performance |
| Timeline |
| Fidelity Sai Inflati |
| Ab Municipal Bond |
Fidelity Sai and Ab Municipal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelity Sai and Ab Municipal
The main advantage of trading using opposite Fidelity Sai and Ab Municipal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity Sai position performs unexpectedly, Ab Municipal can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ab Municipal will offset losses from the drop in Ab Municipal's long position.| Fidelity Sai vs. NEOS Nasdaq 100 | Fidelity Sai vs. Grayscale Bitcoin Mini | Fidelity Sai vs. Fidelity Asset Manager | Fidelity Sai vs. PIMCO Active Bond |
| Ab Municipal vs. Omni Small Cap Value | Ab Municipal vs. Blrc Sgy Mnp | Ab Municipal vs. T Rowe Price | Ab Municipal vs. T Rowe Price |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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