Fidelity Short Correlations

FSEHX Fund

USD 9.01 0.01 0.11%

The current 90-days correlation between Fidelity Short Duration and Lord Abbett Vertible is -0.02 (i.e., Good 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

Modest diversification

The correlation between Fidelity Short Duration and DJI is 0.24 (i.e., Modest 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 against Fidelity Mutual Fund

0.34

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Pair Corr

Related Correlations Analysis

	LCFSX	MCNVX	FSAWX	GACCX	PCNTX	NCIAX	PBXIX
LCFSX		-0.6	0.81	-0.65	-0.14	0.79	-0.57	LCFSX
MCNVX	-0.6		-0.19	0.9	0.81	-0.24	0.94	MCNVX
FSAWX	0.81	-0.19		-0.21	0.32	0.88	-0.14	FSAWX
GACCX	-0.65	0.9	-0.21		0.66	-0.23	0.8	GACCX
PCNTX	-0.14	0.81	0.32	0.66		0.18	0.87	PCNTX
NCIAX	0.79	-0.24	0.88	-0.23	0.18		-0.24	NCIAX
PBXIX	-0.57	0.94	-0.14	0.8	0.87	-0.24		PBXIX
	LCFSX	MCNVX	FSAWX	GACCX	PCNTX	NCIAX	PBXIX

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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

PBXIX	+ 0.94	MCNVX
GACCX	+ 0.9	MCNVX
NCIAX	+ 0.88	FSAWX
PBXIX	+ 0.87	PCNTX
FSAWX	+ 0.81	LCFSX
PCNTX	+ 0.81	MCNVX

High negative correlations

GACCX	- 0.65	LCFSX
MCNVX	- 0.6	LCFSX
PBXIX	- 0.57	LCFSX
PBXIX	- 0.24	NCIAX
NCIAX	- 0.24	MCNVX
NCIAX	- 0.23	GACCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LCFSX	0.47	0.14	0.05	(0.71)	0.48	(0.58)	1.08	(0.73)	3.89
MCNVX	0.40	(0.01)	(0.12)	0.05	0.60	(0.39)	0.79	(0.64)	2.89
FSAWX	0.08	0.03	(0.57)	(13.28)	0.00	(0.13)	0.19	(0.10)	0.38
GACCX	0.49	(0.02)	(0.10)	0.04	0.72	(0.48)	0.98	(1.25)	3.18
PCNTX	0.52	0.05	(0.05)	1.41	0.59	(0.58)	1.05	(0.92)	3.52
NCIAX	0.37	0.11	0.05	(2.41)	0.16	(0.43)	0.90	(0.64)	1.78
PBXIX	0.40	0.01	(0.12)	2.19	0.53	(0.42)	0.81	(0.80)	3.28

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