Fidelity Short-term Correlations

Mutual Funds . USA . 
Fund . Fidelity Short Term Bond
FNSOX Fund  USD 10.05  0.01  0.1%   
The current 90-days correlation between Fidelity Short Term and Fidelity Short Term Treasury is 0.93 (i.e., Almost no diversification). The correlation of Fidelity Short-term 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 Short-term Correlation With Market

Good diversification

The correlation between Fidelity Short Term Bond and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Short Term Bond 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 Short Term Bond. 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 persons.

Moving together with Fidelity Mutual Fund

  0.81FPTKX Fidelity Freedom 2015PairCorr
  0.76FPURX Fidelity PuritanPairCorr
  0.76FPUKX Fidelity PuritanPairCorr
  0.65FPXTX Fidelity PennsylvaniaPairCorr
  0.79FQIFX Fidelity Freedom IndexPairCorr
  0.74FQIPX Fidelity Freedom IndexPairCorr
  0.74FQLSX Fidelity Flex FreedomPairCorr
  0.73FRBDX Fidelity Freedom 2070PairCorr
  0.73FRBEX Fidelity Freedom 2070PairCorr
  0.73FRBHX Fidelity Freedom 2070PairCorr
  0.73FRBJX Fidelity Advisor FreedomPairCorr
  0.73FRBKX Fidelity Advisor FreedomPairCorr
  0.73FRBLX Fidelity Advisor FreedomPairCorr
  0.73FRBOX Fidelity Advisor FreedomPairCorr
  0.73FRBPX Fidelity Advisor FreedomPairCorr
  0.75FRBQX Fidelity Flex FreedomPairCorr
  0.74FRBUX Fidelity Freedom IndexPairCorr
  0.74FRBVX Fidelity Freedom IndexPairCorr
  0.74FRBWX Fidelity Freedom IndexPairCorr
  0.74FRBYX Fidelity Freedom BlendPairCorr
  0.74FRBZX Fidelity Freedom BlendPairCorr
  0.74FRAGX Aggressive GrowthPairCorr
  0.87FRAMX Fidelity Income ReplPairCorr
  0.84FRASX Fidelity Income ReplPairCorr
  0.74FRCFX Fidelity Freedom BlendPairCorr
  0.73FRCHX Fidelity Freedom BlendPairCorr
  0.73FRCKX Fidelity Freedom BlendPairCorr
  0.73FRCLX Fidelity Freedom BlendPairCorr
  0.73FRCNX Fidelity Freedom BlendPairCorr
  0.74FRCPX Fidelity Freedom BlendPairCorr
  0.73FRCQX Fidelity SustainablePairCorr
  0.73FRCRX Fidelity SustainablePairCorr
  0.73FRCVX Fidelity SustainablePairCorr
  0.73FRCWX Fidelity SustainablePairCorr
  0.72FRCYX Fidelity SustainablePairCorr
  0.72FRDCX Fidelity SustainablePairCorr
  0.73FRDDX Fidelity SustainablePairCorr
  0.73FRDEX Fidelity SustainablePairCorr
  0.75FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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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   
FLCOX
+ 0.97
FPADX
FUAMX
+ 0.94
FUMBX
FUAMX
+ 0.78
FNBGX
FPADX
+ 0.65
FUMBX
FLCOX
+ 0.63
FUMBX
FNBGX
+ 0.55
FUMBX
  
High negative correlations   
FPADX
- 0.09
FNBGX
FLCOX
- 0.06
FNBGX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Short-term 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 Short-term'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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