Fidelity Emerging Correlations

FDEM Etf  USD 25.64  0.04  0.16%   
The current 90-days correlation between Fidelity Emerging Markets and SCOR PK is 0.24 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Emerging Markets moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity Emerging Correlation With Market

Average diversification

The correlation between Fidelity Emerging Markets and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Emerging Markets 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 Emerging Markets. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Fidelity Etf

  0.95VWO Vanguard FTSE EmergingPairCorr
  0.99IEMG iShares Core MSCIPairCorr
  0.96EMC Global X FundsPairCorr
  0.98EEM iShares MSCI EmergingPairCorr
  0.95SPEM SPDR Portfolio EmergingPairCorr
  0.94FNDE Schwab FundamentalPairCorr
  0.98ESGE iShares ESG AwarePairCorr
  0.77DGS WisdomTree EmergingPairCorr
  0.97XSOE WisdomTree EmergingPairCorr
  0.66EMXC iShares MSCI EmergingPairCorr
  0.66PFFL ETRACS 2xMonthly PayPairCorr
  0.66GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.67MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr

Related Correlations Analysis

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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   
RRTLXMSTSX
RRTLXAAEVX
AAEVXMSTSX
AAEVXID
IDSCRYY
VIASPID
  
High negative correlations   
AAEVX444859BR2
444859BR2SCRYY
ID444859BR2
MSTSX444859BR2
VIASP444859BR2
MSTSXBRRAY

Fidelity Emerging Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Emerging ETF 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 Emerging'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SCRYY  2.06  0.26  0.07  1.64  2.00 
 5.61 
 12.99 
444859BR2  1.36 (0.01) 0.00  0.16  0.00 
 5.93 
 16.62 
AQUI  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 
 34.02 
MSTSX  0.49 (0.03)(0.13) 0.07  0.50 
 1.21 
 2.80 
ABHYX  0.18  0.03 (0.23)(0.15) 0.24 
 0.34 
 1.91 
ID  3.84  0.90  0.16  1.45  3.99 
 7.89 
 20.54 
VIASP  0.75  0.08 (0.04)(1.44) 1.13 
 2.28 
 7.18 
AAEVX  0.49 (0.01)(0.08) 0.11  0.52 
 0.93 
 2.76 
RRTLX  0.23 (0.02)(0.30) 0.07  0.23 
 0.48 
 1.36