Fidelity Short-term Correlations

Mutual Funds . USA . 
Fund . Fidelity Short Term Bond
FSHBX Fund  USD 8.49  0.01  0.12%   
The current 90-days correlation between Fidelity Short Term and Fidelity Investment Grade is -0.06 (i.e., Good 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 -0.11 (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 bureau of labor statistics.

Moving together with Fidelity Mutual Fund

  0.9FPTKX Fidelity Freedom 2015PairCorr
  0.87FPURX Fidelity PuritanPairCorr
  0.87FPUKX Fidelity PuritanPairCorr
  0.71FPXTX Fidelity PennsylvaniaPairCorr
  0.89FQIFX Fidelity Freedom IndexPairCorr
  0.86FQIPX Fidelity Freedom IndexPairCorr
  0.67FQITX Fidelity Salem StreetPairCorr
  0.85FQLSX Fidelity Flex FreedomPairCorr
  0.85FRBDX Fidelity Freedom 2070PairCorr
  0.65FRBHX Fidelity Freedom 2070PairCorr
  0.65FRBKX Fidelity Advisor FreedomPairCorr
  0.65FRBLX Fidelity Advisor FreedomPairCorr
  0.85FRBOX Fidelity Advisor FreedomPairCorr
  0.65FRBPX Fidelity Advisor FreedomPairCorr
  0.65FRBQX Fidelity Flex FreedomPairCorr
  0.65FRBUX Fidelity Freedom IndexPairCorr
  0.65FRBVX Fidelity Freedom IndexPairCorr
  0.65FRBWX Fidelity Freedom IndexPairCorr
  0.65FRBYX Fidelity Freedom BlendPairCorr
  0.65FRBZX Fidelity Freedom BlendPairCorr
  0.93FRAMX Fidelity Income ReplPairCorr
  0.71FRASX Fidelity Income ReplPairCorr
  0.65FRCFX Fidelity Freedom BlendPairCorr
  0.65FRCHX Fidelity Freedom BlendPairCorr
  0.85FRCKX Fidelity Freedom BlendPairCorr
  0.65FRCLX Fidelity Freedom BlendPairCorr
  0.85FRCNX Fidelity Freedom BlendPairCorr
  0.65FRCPX Fidelity Freedom BlendPairCorr
  0.64FRCQX Fidelity SustainablePairCorr
  0.64FRCRX Fidelity SustainablePairCorr
  0.64FRCVX Fidelity SustainablePairCorr
  0.64FRCWX Fidelity SustainablePairCorr
  0.64FRCYX Fidelity SustainablePairCorr
  0.64FRDCX Fidelity SustainablePairCorr
  0.64FRDDX Fidelity SustainablePairCorr
  0.87FRGAX 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 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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