Fidelity Ohio Correlations

Mutual Funds . USA . 
Fund . Fidelity Ohio Municipal
FOHFX Fund  USD 11.15  0.01  0.09%   
The current 90-days correlation between Fidelity Ohio Municipal and Fidelity Pennsylvania Municipal is -0.04 (i.e., Good diversification). The correlation of Fidelity Ohio 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 Ohio Correlation With Market

Very good diversification

The correlation between Fidelity Ohio Municipal and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Ohio Municipal 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 Ohio Municipal. 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 census.

Moving together with Fidelity Mutual Fund

  0.62FPTKX Fidelity Freedom 2015PairCorr
  0.74FPURX Fidelity PuritanPairCorr
  0.63FPUKX Fidelity PuritanPairCorr
  0.92FPXTX Fidelity PennsylvaniaPairCorr
  0.76FQIFX Fidelity Freedom IndexPairCorr
  0.69FRBDX Fidelity Freedom 2070PairCorr
  0.69FRBEX Fidelity Freedom 2070PairCorr
  0.69FRBHX Fidelity Freedom 2070PairCorr
  0.7FRBJX Fidelity Advisor FreedomPairCorr
  0.71FRBKX Fidelity Advisor FreedomPairCorr
  0.71FRBLX Fidelity Advisor FreedomPairCorr
  0.7FRBOX Fidelity Advisor FreedomPairCorr
  0.7FRBPX Fidelity Advisor FreedomPairCorr
  0.7FRBQX Fidelity Flex FreedomPairCorr
  0.7FRBUX Fidelity Freedom IndexPairCorr
  0.7FRBVX Fidelity Freedom IndexPairCorr
  0.7FRBWX Fidelity Freedom IndexPairCorr
  0.69FRBYX Fidelity Freedom BlendPairCorr
  0.69FRBZX Fidelity Freedom BlendPairCorr
  0.69FRCFX Fidelity Freedom BlendPairCorr
  0.69FRCHX Fidelity Freedom BlendPairCorr
  0.7FRCKX Fidelity Freedom BlendPairCorr
  0.69FRCLX Fidelity Freedom BlendPairCorr
  0.69FRCNX Fidelity Freedom BlendPairCorr
  0.69FRCPX Fidelity Freedom BlendPairCorr
  0.69FRCQX Fidelity SustainablePairCorr
  0.69FRCRX Fidelity SustainablePairCorr
  0.69FRCVX Fidelity SustainablePairCorr
  0.7FRCWX Fidelity SustainablePairCorr
  0.7FRCYX Fidelity SustainablePairCorr
  0.7FRDCX Fidelity SustainablePairCorr
  0.69FRDDX Fidelity SustainablePairCorr
  0.69FRDEX Fidelity SustainablePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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