Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Discovery
FIGRX Fund  USD 59.62  0.43  0.73%   
The current 90-days correlation between Fidelity International and Intermediate Term Bond Fund is 0.1 (i.e., Average diversification). The correlation of Fidelity International 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 International Correlation With Market

Poor diversification

The correlation between Fidelity International Discove and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Discove 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 International Discovery. 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 real.

Moving together with Fidelity Mutual Fund

  0.79FPTKX Fidelity Freedom 2015PairCorr
  0.81FQIFX Fidelity Freedom IndexPairCorr
  0.85FQIPX Fidelity Freedom IndexPairCorr
  0.86FQITX Fidelity Salem StreetPairCorr
  0.87FQLSX Fidelity Flex FreedomPairCorr
  0.8FRBHX Fidelity Freedom 2070PairCorr
  0.84FRBKX Fidelity Advisor FreedomPairCorr
  0.9FRBOX Fidelity Advisor FreedomPairCorr
  0.81FRBQX Fidelity Flex FreedomPairCorr
  0.79FRBUX Fidelity Freedom IndexPairCorr
  0.79FRBVX Fidelity Freedom IndexPairCorr
  0.79FRBWX Fidelity Freedom IndexPairCorr
  0.81FRBYX Fidelity Freedom BlendPairCorr
  0.85FRAGX Aggressive GrowthPairCorr
  0.75FRAMX Fidelity Income ReplPairCorr
  0.87FRCHX Fidelity Freedom BlendPairCorr
  0.82FRCNX Fidelity Freedom BlendPairCorr
  0.79FRCWX Fidelity SustainablePairCorr
  0.83FRGAX Growth Allocation IndexPairCorr
  0.74FRHMX Fidelity Managed RetPairCorr
  0.85FRLPX Fidelity Freedom IndexPairCorr
  0.75FRQKX Fidelity Managed RetPairCorr
  0.75FRQAX Fidelity Income ReplPairCorr
  0.83FAAIX Fidelity Asset ManagerPairCorr
  0.82FADTX Fidelity Advisor TecPairCorr
  0.74FADMX Fidelity Advisor StrPairCorr
  0.83FAFEX Fidelity Advisor FreedomPairCorr
  0.91FAGIX Fidelity Capital IncomePairCorr
  0.85FAGCX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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