Fidelity International Correlations

FAIDX Fund

USD 50.28 0.54 1.09%

The current 90-days correlation between Fidelity International and Fidelity International Growth is 0.97 (i.e., Almost no 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 Discove and DJI is 0.55 (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 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 unemployment.

Moving together with Fidelity Mutual Fund

0.75	FPTKX	Fidelity Freedom 2015	Pair Corr
0.94	FQITX	Fidelity Salem Street	Pair Corr
0.81	FRAMX	Fidelity Income Repl	Pair Corr
0.79	FRASX	Fidelity Income Repl	Pair Corr
0.8	FRIMX	Fidelity Income Repl	Pair Corr
0.79	FRHMX	Fidelity Managed Ret	Pair Corr
0.8	FRKMX	Fidelity Managed Ret	Pair Corr
0.8	FRQHX	Fidelity Managed Ret	Pair Corr
0.8	FRQIX	Fidelity Income Repl	Pair Corr
0.8	FRQKX	Fidelity Managed Ret	Pair Corr
0.81	FRQAX	Fidelity Income Repl	Pair Corr
0.71	FACTX	Fidelity Advisor Health	Pair Corr
0.82	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.7	FRPCX	Fidelity Sai Alternative	Pair Corr
0.6	FAFSX	Fidelity Advisor Fin	Pair Corr
0.6	FAFDX	Fidelity Advisor Fin	Pair Corr
0.6	FAFCX	Fidelity Advisor Fin	Pair Corr
0.51	FACVX	Fidelity Vertible	Pair Corr
0.48	FAGKX	Fidelity Growth Stra	Pair Corr
0.39	FACPX	Fidelity Advisor Sumer	Pair Corr
0.37	FADTX	Fidelity Advisor Tec	Pair Corr
0.35	FACGX	Fidelity Advisor Growth	Pair Corr
0.35	FAGOX	Fidelity Advisor Growth	Pair Corr
0.35	FAGIX	Fidelity Capital Income	Pair Corr

Related Correlations Analysis

	FZAJX	FIDGX	FZAMX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF
FZAJX		-0.15	-0.15	0.26	0.0	-0.32	0.38	0.32	0.06	0.55	FZAJX
FIDGX	-0.15		0.99	-0.62	0.0	-0.11	0.66	0.01	0.69	-0.6	FIDGX
FZAMX	-0.15	0.99		-0.63	0.0	-0.14	0.67	0.1	0.72	-0.67	FZAMX
444859BR2	0.26	-0.62	-0.63		0.0	0.3	-0.5	-0.06	-0.55	0.5	444859BR2
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.32	-0.11	-0.14	0.3	0.0		-0.44	-0.34	-0.33	-0.07	BRRAY
MSTSX	0.38	0.66	0.67	-0.5	0.0	-0.44		0.27	0.69	-0.06	MSTSX
ABHYX	0.32	0.01	0.1	-0.06	0.0	-0.34	0.27		0.56	-0.14	ABHYX
LBHIX	0.06	0.69	0.72	-0.55	0.0	-0.33	0.69	0.56		-0.38	LBHIX
SCAXF	0.55	-0.6	-0.67	0.5	0.0	-0.07	-0.06	-0.14	-0.38		SCAXF
	FZAJX	FIDGX	FZAMX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF

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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

FZAMX	+ 0.99	FIDGX
LBHIX	+ 0.72	FZAMX
LBHIX	+ 0.69	FIDGX
LBHIX	+ 0.69	MSTSX
MSTSX	+ 0.67	FZAMX
MSTSX	+ 0.66	FIDGX

High negative correlations

SCAXF	- 0.67	FZAMX
444859BR2	- 0.63	FZAMX
444859BR2	- 0.62	FIDGX
SCAXF	- 0.6	FIDGX
LBHIX	- 0.55	444859BR2
MSTSX	- 0.5	444859BR2

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FZAJX	0.69	(0.11)	0.00	(0.03)	0.00	0.00	1.27	(1.56)	4.55
FIDGX	0.88	(0.01)	0.04	0.12	1.00	(0.93)	1.75	(1.58)	6.21
FZAMX	0.70	0.02	0.04	0.14	0.62	(0.80)	1.58	(1.15)	4.96
444859BR2	1.36	(0.01)	0.00	0.16	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.11)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.03)	(0.13)	0.07	0.50	(0.61)	1.21	(1.02)	2.80
ABHYX	0.18	0.03	(0.23)	(0.15)	0.24	(0.24)	0.34	(0.33)	1.91
LBHIX	0.12	0.01	(0.44)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
SCAXF	0.70	(0.37)	0.00	(19.66)	0.00	0.00	0.00	0.00	23.47

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