Fidelity Short-term Correlations

Mutual Funds . USA . 
Fund . Fidelity Short Term Bond
FSHBX Fund  USD 8.47  0.02  0.24%   
The current 90-days correlation between Fidelity Short Term and Fidelity Investment Grade 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

Significant diversification

The correlation between Fidelity Short Term Bond and DJI is 0.05 (i.e., Significant 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

  0.91FRIOX Fidelity Real EstatePairCorr
  0.84FRQIX Fidelity Income ReplPairCorr
  0.94FSAWX Fidelity Sai ConvertiblePairCorr
  0.88FSEDX Fidelity Series EmergingPairCorr
  0.63FASIX Fidelity Asset ManagerPairCorr
  0.77FSRRX Fidelity Strategic RealPairCorr
  0.72FSYNX Fidelity Advisor SusPairCorr
  0.97FTHRX Fidelity IntermediatePairCorr
  0.88FCCCX Fidelity Porate BondPairCorr
  0.94FUEMX Fidelity Flex ServativePairCorr
  0.67FCTFX Fidelity CaliforniaPairCorr
  0.88FUSIX Strategic AdvisersPairCorr
  0.86FGDIX Fidelity Advisor GoldPairCorr
  0.89FGWMX Fidelity New MarketsPairCorr
  0.89FGVMX Fidelity New MarketsPairCorr

Moving against Fidelity Mutual Fund

  0.76FCDIX Fidelity Stock SelectorPairCorr
  0.75FCCVX Fidelity ConvertiblePairCorr
  0.68FAGAX Fidelity Advisor GrowthPairCorr
  0.59FCLCX Fidelity Advisor IndPairCorr
  0.57FCLAX Fidelity Advisor IndPairCorr
  0.47FSVLX Consumer Finance PorPairCorr
  0.41FCLKX Fidelity Large CapPairCorr
  0.36FASGX Fidelity Asset ManagerPairCorr
  0.32FAMRX Fidelity Asset ManagerPairCorr
  0.71FDGFX Fidelity Dividend GrowthPairCorr
  0.7FDESX Fidelity Advisor DivPairCorr
  0.68FVLKX Fidelity ValuePairCorr
  0.67FCPVX Fidelity Small CapPairCorr
  0.66FCTDX Strategic AdvisersPairCorr
  0.64FWTFX Fidelity WorldwidePairCorr
  0.56FHCCX Fidelity Advisor HealthPairCorr
  0.45FDCPX Computers PortfolioPairCorr
  0.34FGRTX Fidelity Mega CapPairCorr

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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