Fidelity Emerging Correlations

FDEM Etf

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The current 90-days correlation between Fidelity Emerging Markets and iShares MSCI Malaysia is 0.5 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Emerging Markets moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity Emerging Correlation With Market

Very poor diversification

The correlation between Fidelity Emerging Markets and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fidelity Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Emerging Markets. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with Fidelity Etf

0.99	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
1.0	IEMG	iShares Core MSCI Aggressive Push	Pair Corr
0.99	EMC	Global X Funds	Pair Corr
1.0	EEM	iShares MSCI Emerging Aggressive Push	Pair Corr
0.99	SPEM	SPDR Portfolio Emerging Sell-off Trend	Pair Corr
0.99	FNDE	Schwab Fundamental Sell-off Trend	Pair Corr
1.0	ESGE	iShares ESG Aware	Pair Corr
0.98	SFGRX	Seafarer Overseas	Pair Corr
0.99	DGS	WisdomTree Emerging	Pair Corr
0.99	XSOE	WisdomTree Emerging	Pair Corr
0.85	DHF	BNY Mellon High	Pair Corr
0.96	ARP	Advisors Inner Circle	Pair Corr
0.78	PXMV	Invesco SP MidCap	Pair Corr
0.84	IGA	Voya Global Advantage	Pair Corr
0.91	FPXE	First Trust IPOX	Pair Corr
0.97	CHPS	Xtrackers Semiconductor	Pair Corr
0.89	REGL	ProShares SP MidCap	Pair Corr
0.81	WDNA	WisdomTree BioRevolution	Pair Corr
0.99	STXE	EA Series Trust	Pair Corr
0.87	UDI	USCF ETF Trust	Pair Corr
0.78	XAUG	FT Cboe Vest	Pair Corr
0.87	DFSD	Dimensional ETF Trust	Pair Corr
0.74	FB	ProShares Trust ProShares	Pair Corr
0.65	TERG	Leverage Shares 2X	Pair Corr
0.84	NCPB	Nuveen Core Plus	Pair Corr
0.93	IRTR	iShares Trust	Pair Corr
0.7	FXC	Invesco CurrencyShares	Pair Corr
0.65	WEBS	Direxion Daily Dow	Pair Corr
0.98	CCNR	CoreCommodity Natural	Pair Corr
0.95	EURL	Direxion Daily FTSE	Pair Corr
0.96	NBCE	Neuberger Berman ETF	Pair Corr
0.85	SPVM	Invesco SP 500	Pair Corr
0.89	IQSZ	Invesco Actively Managed	Pair Corr

Moving against Fidelity Etf

0.69	ENTR	EntrepreneurShares	Pair Corr
0.39	PLT	Defiance Leveraged Long	Pair Corr

Related Correlations Analysis

	FCPI	FDEV	UEVM	FIVA	FLRG	FLCH	FTXO	ECON	PAPI	EWM
FCPI		0.81	0.72	0.79	0.89	0.31	0.71	0.76	0.75	0.79	FCPI
FDEV	0.81		0.89	0.99	0.72	0.27	0.87	0.94	0.95	0.97	FDEV
UEVM	0.72	0.89		0.9	0.56	0.57	0.63	0.98	0.89	0.91	UEVM
FIVA	0.79	0.99	0.9		0.73	0.28	0.89	0.95	0.95	0.97	FIVA
FLRG	0.89	0.72	0.56	0.73		0.27	0.77	0.61	0.61	0.69	FLRG
FLCH	0.31	0.27	0.57	0.28	0.27		0.04	0.45	0.2	0.3	FLCH
FTXO	0.71	0.87	0.63	0.89	0.77	0.04		0.73	0.82	0.81	FTXO
ECON	0.76	0.94	0.98	0.95	0.61	0.45	0.73		0.93	0.95	ECON
PAPI	0.75	0.95	0.89	0.95	0.61	0.2	0.82	0.93		0.93	PAPI
EWM	0.79	0.97	0.91	0.97	0.69	0.3	0.81	0.95	0.93		EWM
	FCPI	FDEV	UEVM	FIVA	FLRG	FLCH	FTXO	ECON	PAPI	EWM

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Fidelity Emerging Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Emerging ETF 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 Emerging'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
FCPI	0.59	(0.01)	(0.03)	0.04	0.81	(0.58)	1.04	(1.55)	4.04
FDEV	0.54	0.15	0.18	0.34	0.41	(0.61)	1.41	(1.06)	3.26
UEVM	0.57	0.06	0.04	0.18	0.62	(0.61)	1.12	(1.08)	4.05
FIVA	0.64	0.20	0.23	0.32	0.45	(0.73)	1.43	(1.27)	3.40
FLRG	0.48	(0.03)	(0.07)	0.01	0.71	(0.44)	1.01	(1.26)	3.14
FLCH	0.80	(0.11)	0.00	(0.12)	0.00	0.00	1.71	(1.65)	6.22
FTXO	0.97	0.10	0.09	0.15	1.02	(1.06)	2.34	(1.96)	5.67
ECON	0.70	0.15	0.15	0.29	0.56	(0.81)	1.73	(1.26)	4.35
PAPI	0.54	0.14	0.19	0.30	0.25	(0.63)	1.43	(0.78)	2.85
EWM	0.65	0.17	0.16	0.41	0.53	(0.71)	1.36	(1.05)	4.41

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