Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Small
FSCOX Fund  USD 23.88  0.14  0.59%   
The current 90-days correlation between Fidelity International and Fidelity International Small is 0.88 (i.e., Very poor 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

Very weak diversification

The correlation between Fidelity International Small 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 International Small 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 Small. 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.92FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.73FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.91FRBDX Fidelity Freedom 2070PairCorr
  0.88FRBEX Fidelity Freedom 2070PairCorr
  0.91FRBHX Fidelity Freedom 2070PairCorr
  0.88FRBJX Fidelity Advisor FreedomPairCorr
  0.91FRBKX Fidelity Advisor FreedomPairCorr
  0.91FRBLX Fidelity Advisor FreedomPairCorr
  0.88FRBOX Fidelity Advisor FreedomPairCorr
  0.88FRBPX Fidelity Advisor FreedomPairCorr
  0.91FRBQX Fidelity Flex FreedomPairCorr
  0.91FRBUX Fidelity Freedom IndexPairCorr
  0.88FRBVX Fidelity Freedom IndexPairCorr
  0.91FRBWX Fidelity Freedom IndexPairCorr
  0.88FRBYX Fidelity Freedom BlendPairCorr
  0.91FRBZX Fidelity Freedom BlendPairCorr
  0.94FRAGX Aggressive GrowthPairCorr
  0.93FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  0.88FRCFX Fidelity Freedom BlendPairCorr
  0.91FRCHX Fidelity Freedom BlendPairCorr
  0.91FRCKX Fidelity Freedom BlendPairCorr
  0.91FRCLX Fidelity Freedom BlendPairCorr
  0.91FRCNX Fidelity Freedom BlendPairCorr
  0.88FRCPX Fidelity Freedom BlendPairCorr
  0.9FRCQX Fidelity SustainablePairCorr
  0.9FRCRX Fidelity SustainablePairCorr
  0.9FRCVX Fidelity SustainablePairCorr
  0.87FRCWX Fidelity SustainablePairCorr
  0.9FRCYX Fidelity SustainablePairCorr
  0.9FRDCX Fidelity SustainablePairCorr
  0.94FRDDX Fidelity SustainablePairCorr
  0.87FRDEX Fidelity SustainablePairCorr
  0.91FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


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

FIVLX
+ 0.92
FISMX
FEMKX
+ 0.92
FISMX
FIREX
+ 0.9
FIVLX
FIREX
+ 0.87
FISMX
FEMKX
+ 0.83
FIVLX
FEMKX
+ 0.74
FIREX
  

High negative correlations

FNORX
- 0.35
FIVLX
FEMKX
- 0.34
FNORX
FNORX
- 0.33
FIREX
FNORX
- 0.27
FISMX

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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