Fidelity Short Correlations

Mutual Funds . USA . 
Fund . Fidelity Short Duration
FSAHX Fund  USD 8.98  0.02  0.22%   
The current 90-days correlation between Fidelity Short Duration and Fidelity Global High is 0.05 (i.e., Significant 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

Significant diversification

The correlation between Fidelity Short Duration and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Short Duration 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 Duration. 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 rate.

Moving together with Fidelity Mutual Fund

  0.78FPURX Fidelity PuritanPairCorr
  0.78FPUKX Fidelity PuritanPairCorr
  0.74FPXTX Fidelity PennsylvaniaPairCorr
  0.68FQIFX Fidelity Freedom IndexPairCorr
  0.76FQIPX Fidelity Freedom IndexPairCorr
  0.74FQLSX Fidelity Flex FreedomPairCorr
  0.76FRAGX Aggressive GrowthPairCorr
  0.61FRASX Fidelity Income ReplPairCorr
  0.77FRGAX Growth Allocation IndexPairCorr
  0.63FRESX Fidelity Real EstatePairCorr
  0.67FRIFX Fidelity Real EstatePairCorr
  0.65FRINX Fidelity Real EstatePairCorr
  0.63FRIOX Fidelity Real EstatePairCorr
  0.66FRIQX Fidelity Real EstatePairCorr
  0.66FRIRX Fidelity Real EstatePairCorr
  0.76FRLPX Fidelity Freedom IndexPairCorr
  0.67FROGX Fidelity Municipal IncomePairCorr
  0.73FAASX Fidelity Asset ManagerPairCorr
  0.72FAAIX Fidelity Asset ManagerPairCorr
  0.76FACVX Fidelity ConvertiblePairCorr
  0.68FACNX Fidelity CanadaPairCorr

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   
FHIFX
+ 0.92
FGBFX
FGBFX
+ 0.88
FJRLX
FGILX
+ 0.83
FGBFX
FHIFX
+ 0.79
FJRLX
FGILX
+ 0.78
FHIFX
FGILX
+ 0.62
FJRLX
  
High negative correlations   
FJRLX
- 0.35
FGHNX
FGBFX
- 0.23
FGHNX
FHIFX
- 0.16
FGHNX
FGILX
- 0.13
FGHNX

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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