Fidelity Short-term Correlations

Mutual Funds USA . 
Fund . Fidelity Short Term Bond
FANCX Fund  USD 8.42  0.01  0.12%   
The current 90-days correlation between Fidelity Short Term and Vanguard Short Term Bond is 0.72 (i.e., Poor 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

Very good diversification

The correlation between Fidelity Short Term Bond and DJI is -0.26 (i.e., Very 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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.69FPXTX Fidelity PennsylvaniaPairCorr
  0.81FRAMX Fidelity Income ReplPairCorr
  0.71FRASX Fidelity Income ReplPairCorr
  0.65FRESX Fidelity Real EstatePairCorr
  0.78FRIFX Fidelity Real EstatePairCorr
  0.81FRIMX Fidelity Income ReplPairCorr
  0.8FRINX Fidelity Real EstatePairCorr
  0.84FRIOX Fidelity Real EstatePairCorr
  0.79FRIQX Fidelity Real EstatePairCorr
  0.81FRHMX Fidelity Managed RetPairCorr
  0.81FRKMX Fidelity Managed RetPairCorr
  0.79FRIRX Fidelity Real EstatePairCorr
  0.77FROGX Fidelity Municipal IncomePairCorr
  0.79FRQHX Fidelity Managed RetPairCorr
  0.8FRQIX Fidelity Income ReplPairCorr
  0.8FRQKX Fidelity Managed RetPairCorr
  0.8FRQAX Fidelity Income ReplPairCorr
  0.73FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.52FRPDX Fidelity Sai AlternativePairCorr
  0.43FPURX Fidelity PuritanPairCorr
  0.43FPUKX Fidelity PuritanPairCorr
  0.33FRPCX Fidelity Sai AlternativePairCorr
  0.32FRAGX Aggressive GrowthPairCorr
  0.65FADTX Fidelity Advisor TecPairCorr
  0.63FAFSX Fidelity Advisor FinPairCorr
  0.63FAFDX Fidelity Advisor FinPairCorr
  0.63FAFCX Fidelity Advisor FinPairCorr
  0.55FAGKX Fidelity Growth StraPairCorr
  0.54FACVX Fidelity ConvertiblePairCorr
  0.54FACGX Fidelity Advisor GrowthPairCorr
  0.54FAGOX Fidelity Advisor GrowthPairCorr
  0.51FAGNX Fidelity Advisor EnergyPairCorr
  0.47FAEGX Fidelity Advisor EquityPairCorr
  0.46FADAX Fidelity Advisor DividendPairCorr

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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