Correlation Between Fidelity Sai and Fidelity Emerging
Can any of the company-specific risk be diversified away by investing in both Fidelity Sai and Fidelity Emerging at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fidelity Sai and Fidelity Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelity Sai International and Fidelity Emerging Markets, you can compare the effects of market volatilities on Fidelity Sai and Fidelity Emerging and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fidelity Sai with a short position of Fidelity Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity Sai and Fidelity Emerging.
Diversification Opportunities for Fidelity Sai and Fidelity Emerging
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Fidelity and Fidelity is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Sai International and Fidelity Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Emerging Markets and Fidelity Sai is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fidelity Sai International are associated (or correlated) with Fidelity Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Emerging Markets has no effect on the direction of Fidelity Sai i.e., Fidelity Sai and Fidelity Emerging go up and down completely randomly.
Pair Corralation between Fidelity Sai and Fidelity Emerging
Assuming the 90 days horizon Fidelity Sai is expected to generate 44.97 times less return on investment than Fidelity Emerging. But when comparing it to its historical volatility, Fidelity Sai International is 1.75 times less risky than Fidelity Emerging. It trades about 0.01 of its potential returns per unit of risk. Fidelity Emerging Markets is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 4,432 in Fidelity Emerging Markets on August 19, 2025 and sell it today you would earn a total of 511.00 from holding Fidelity Emerging Markets or generate 11.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fidelity Sai International vs. Fidelity Emerging Markets
Performance |
| Timeline |
| Fidelity Sai Interna |
| Fidelity Emerging Markets |
Fidelity Sai and Fidelity Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelity Sai and Fidelity Emerging
The main advantage of trading using opposite Fidelity Sai and Fidelity Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity Sai position performs unexpectedly, Fidelity Emerging can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Fidelity Emerging will offset losses from the drop in Fidelity Emerging's long position.| Fidelity Sai vs. Artisan International Fund | Fidelity Sai vs. Calvert Large Cap | Fidelity Sai vs. Amana Growth Fund | Fidelity Sai vs. Amana Growth Fund |
| Fidelity Emerging vs. Fidelity Advisor Emerging | Fidelity Emerging vs. Fidelity Advisor Technology | Fidelity Emerging vs. Fidelity Overseas Fund | Fidelity Emerging vs. Fidelity Dividend Growth |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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