Fidelity Short Correlations

Mutual Funds . USA . 
Fund . Fidelity Short Term Treasury
FUMBX Fund  USD 10.33  0.01  0.1%   
The current 90-days correlation between Fidelity Short Term and Fidelity Intermediate Treasury is 0.86 (i.e., Very poor diversification). The correlation of Fidelity Short 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 Correlation With Market

Good diversification

The correlation between Fidelity Short Term Treasury 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 Treasury 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 Treasury. 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

  0.72FPTKX Fidelity Freedom 2015PairCorr
  0.67FPURX Fidelity PuritanPairCorr
  0.67FPUKX Fidelity PuritanPairCorr
  0.7FQIFX Fidelity Freedom IndexPairCorr
  0.64FQIPX Fidelity Freedom IndexPairCorr
  0.63FQLSX Fidelity Flex FreedomPairCorr
  0.63FRBDX Fidelity Freedom 2070PairCorr
  0.63FRBEX Fidelity Freedom 2070PairCorr
  0.63FRBHX Fidelity Freedom 2070PairCorr
  0.63FRBJX Fidelity Advisor FreedomPairCorr
  0.63FRBKX Fidelity Advisor FreedomPairCorr
  0.63FRBLX Fidelity Advisor FreedomPairCorr
  0.63FRBOX Fidelity Advisor FreedomPairCorr
  0.63FRBPX Fidelity Advisor FreedomPairCorr
  0.65FRBQX Fidelity Flex FreedomPairCorr
  0.64FRBUX Fidelity Freedom IndexPairCorr
  0.64FRBVX Fidelity Freedom IndexPairCorr
  0.64FRBWX Fidelity Freedom IndexPairCorr
  0.63FRBYX Fidelity Freedom BlendPairCorr
  0.63FRBZX Fidelity Freedom BlendPairCorr
  0.64FRAGX Aggressive GrowthPairCorr
  0.79FRAMX Fidelity Income ReplPairCorr
  0.76FRASX Fidelity Income ReplPairCorr
  0.64FRCFX Fidelity Freedom BlendPairCorr
  0.63FRCHX Fidelity Freedom BlendPairCorr
  0.63FRCKX Fidelity Freedom BlendPairCorr
  0.63FRCLX Fidelity Freedom BlendPairCorr
  0.63FRCNX Fidelity Freedom BlendPairCorr
  0.64FRCPX Fidelity Freedom BlendPairCorr
  0.62FRCQX Fidelity SustainablePairCorr
  0.62FRCRX Fidelity SustainablePairCorr
  0.62FRCVX Fidelity SustainablePairCorr
  0.62FRCWX Fidelity SustainablePairCorr
  0.62FRCYX Fidelity SustainablePairCorr
  0.62FRDCX Fidelity SustainablePairCorr
  0.62FRDDX Fidelity SustainablePairCorr
  0.62FRDEX Fidelity SustainablePairCorr
  0.66FRGAX 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   
FIPDX
+ 0.92
FUAMX
FNSOX
+ 0.91
FUAMX
FIPDX
+ 0.87
FNSOX
FNBGX
+ 0.78
FUAMX
FLCOX
+ 0.73
FNSOX
FIPDX
+ 0.68
FNBGX
  
High negative correlations   
FLCOX
- 0.06
FNBGX

Risk-Adjusted Indicators

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