Fidelity Japan Correlations

Mutual Funds . USA . 
Fund . Fidelity Japan Fund
FJPIX Fund  USD 22.02  0.10  0.46%   
The current 90-days correlation between Fidelity Japan and Locorr Strategic Allocation is 0.73 (i.e., Poor diversification). The correlation of Fidelity Japan 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 Japan Correlation With Market

Very weak diversification

The correlation between Fidelity Japan Fund and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Japan Fund 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 Japan Fund. 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.87FPTKX Fidelity Freedom 2015PairCorr
  0.82FPURX Fidelity PuritanPairCorr
  0.82FPUKX Fidelity PuritanPairCorr
  0.81FPXTX Fidelity PennsylvaniaPairCorr
  0.88FQIFX Fidelity Freedom IndexPairCorr
  0.9FQIPX Fidelity Freedom IndexPairCorr
  0.89FQLSX Fidelity Flex FreedomPairCorr
  0.89FRBDX Fidelity Freedom 2070PairCorr
  0.9FRBEX Fidelity Freedom 2070PairCorr
  0.84FRBHX Fidelity Freedom 2070PairCorr
  0.86FRBJX Fidelity Advisor FreedomPairCorr
  0.79FRBKX Fidelity Advisor FreedomPairCorr
  0.85FRBLX Fidelity Advisor FreedomPairCorr
  0.86FRBOX Fidelity Advisor FreedomPairCorr
  0.8FRBPX Fidelity Advisor FreedomPairCorr
  0.89FRBQX Fidelity Flex FreedomPairCorr
  0.84FRBUX Fidelity Freedom IndexPairCorr
  0.9FRBVX Fidelity Freedom IndexPairCorr
  0.9FRBWX Fidelity Freedom IndexPairCorr
  0.88FRBYX Fidelity Freedom BlendPairCorr
  0.89FRBZX Fidelity Freedom BlendPairCorr
  0.89FRAGX Aggressive GrowthPairCorr
  0.83FRAMX Fidelity Income ReplPairCorr
  0.85FRASX Fidelity Income ReplPairCorr
  0.89FRCFX Fidelity Freedom BlendPairCorr
  0.88FRCHX Fidelity Freedom BlendPairCorr
  0.88FRCKX Fidelity Freedom BlendPairCorr
  0.86FRCLX Fidelity Freedom BlendPairCorr
  0.88FRCNX Fidelity Freedom BlendPairCorr
  0.89FRCPX Fidelity Freedom BlendPairCorr
  0.91FRCQX Fidelity SustainablePairCorr
  0.91FRCRX Fidelity SustainablePairCorr
  0.91FRCVX Fidelity SustainablePairCorr
  0.85FRCWX Fidelity SustainablePairCorr
  0.91FRCYX Fidelity SustainablePairCorr
  0.9FRDCX Fidelity SustainablePairCorr
  0.91FRDDX Fidelity SustainablePairCorr
  0.91FRDEX Fidelity SustainablePairCorr
  0.89FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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