Fidelity Short-term Correlations

Mutual Funds USA . 
Fund . Fidelity Short Term Bond
FNSOX Fund  USD 10.06  0.01  0.1%   
The current 90-days correlation between Fidelity Short Term and Fidelity Freedom 2015 is -0.15 (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

Very good diversification

The correlation between Fidelity Short Term Bond and DJI is -0.33 (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 persons.

Moving against Fidelity Mutual Fund

  0.89FPURX Fidelity PuritanPairCorr
  0.89FPUKX Fidelity PuritanPairCorr
  0.74FQIPX Fidelity Freedom IndexPairCorr
  0.74FQLSX Fidelity Flex FreedomPairCorr
  0.74FRBKX Fidelity Advisor FreedomPairCorr
  0.74FRBOX Fidelity Advisor FreedomPairCorr
  0.74FRBQX Fidelity Flex FreedomPairCorr
  0.73FRBPX Fidelity Advisor FreedomPairCorr
  0.7FRBDX Fidelity Freedom 2070PairCorr
  0.7FRBEX Fidelity Freedom 2070PairCorr
  0.7FRBHX Fidelity Freedom 2070PairCorr
  0.7FRBLX Fidelity Advisor FreedomPairCorr
  0.67FRBJX Fidelity Advisor FreedomPairCorr
  0.63FQIFX Fidelity Freedom IndexPairCorr
  0.53FPXTX Fidelity PennsylvaniaPairCorr
  0.45FPTKX Fidelity Freedom 2015PairCorr
  0.79FRAGX Aggressive GrowthPairCorr
  0.76FRCKX Fidelity Freedom BlendPairCorr
  0.76FRCQX Fidelity SustainablePairCorr
  0.76FRCRX Fidelity SustainablePairCorr
  0.76FRCVX Fidelity SustainablePairCorr
  0.75FRBYX Fidelity Freedom BlendPairCorr
  0.75FRCFX Fidelity Freedom BlendPairCorr
  0.75FRCLX Fidelity Freedom BlendPairCorr
  0.74FRBVX Fidelity Freedom IndexPairCorr
  0.7FRCHX Fidelity Freedom BlendPairCorr
  0.7FRCNX Fidelity Freedom BlendPairCorr
  0.69FRBWX Fidelity Freedom IndexPairCorr
  0.68FRBZX Fidelity Freedom BlendPairCorr
  0.67FRBUX Fidelity Freedom IndexPairCorr
  0.67FRCPX Fidelity Freedom BlendPairCorr
  0.77FRDCX Fidelity SustainablePairCorr
  0.76FRCWX Fidelity SustainablePairCorr
  0.76FRDDX Fidelity SustainablePairCorr
  0.76FRDEX Fidelity SustainablePairCorr
  0.76FRGAX Growth Allocation IndexPairCorr
  0.74FRLPX Fidelity Freedom IndexPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.46  0.05  0.21  0.01  0.64 
(0.47)
 0.72 
(1.12)
 4.13 
FPURX  0.91 (0.03) 0.00 (0.18) 0.00 
 0.00 
 1.40 
(1.98)
 7.88 
FPUKX  0.91 (0.04) 0.00 (0.18) 0.00 
 0.00 
 1.40 
(1.98)
 7.80 
FPXTX  0.27 (0.04) 0.00  0.37  0.00 
 0.00 
 0.39 
(0.98)
 2.77 
FQIFX  0.60  0.05  0.00 (0.03) 0.00 
 0.00 
 1.00 
(1.33)
 5.82 
FQIPX  0.98  0.07  0.00 (0.05) 0.00 
 0.00 
 1.83 
(2.30)
 9.82 
FQITX  0.95  0.05  0.13 (0.67) 1.47 
(0.95)
 1.77 
(1.68)
 8.97 
FQLSX  1.04  0.07  0.00 (0.06) 0.00 
 0.00 
 1.89 
(2.51)
 10.31 
FRBDX  1.03 (0.07) 0.00  0.65  0.00 
 0.00 
 1.86 
(2.49)
 10.25 
FRBEX  1.03 (0.07) 0.00  0.66  0.00 
 0.00 
 1.96 
(2.49)
 10.25 

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