Fidelity International Correlations

FDEV Etf

USD 27.45 0.04 0.15%

The current 90-days correlation between Fidelity International and Fidelity Emerging Markets is 0.6 (i.e., 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

Average diversification

The correlation between Fidelity International Multifa and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Multifa 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 Multifactor. 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

0.98	VEA	Vanguard FTSE Developed Sell-off Trend	Pair Corr
0.97	IEFA	iShares Core MSCI	Pair Corr
0.95	VEU	Vanguard FTSE All Sell-off Trend	Pair Corr
0.97	EFA	iShares MSCI EAFE Sell-off Trend	Pair Corr
0.96	IXUS	iShares Core MSCI	Pair Corr
0.98	SPDW	SPDR SP World Sell-off Trend	Pair Corr
0.99	IDEV	iShares Core MSCI Sell-off Trend	Pair Corr
0.96	ESGD	iShares ESG Aware	Pair Corr
0.96	JIRE	JP Morgan Exchange	Pair Corr
0.96	DFAX	Dimensional World	Pair Corr
0.77	PMBS	PIMCO Mortgage Backed	Pair Corr
0.69	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.72	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.7	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.7	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.78	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against Fidelity Etf

0.73	DSJA	DSJA	Pair Corr
0.69	MEME	Roundhill Investments	Pair Corr
0.68	RSPY	Tuttle Capital Management	Pair Corr
0.6	CSCO	Cisco Systems	Pair Corr
0.56	DIS	Walt Disney	Pair Corr
0.51	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.51	WMT	Walmart Aggressive Push	Pair Corr
0.51	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.44	BAC	Bank of America Earnings Call This Week	Pair Corr
0.39	T	ATT Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	FDEM	FSMD	FIVA	FIDI	FDMO
FDEM		-0.38	0.81	0.79	-0.54	FDEM
FSMD	-0.38		-0.1	-0.2	0.72	FSMD
FIVA	0.81	-0.1		0.97	-0.58	FIVA
FIDI	0.79	-0.2	0.97		-0.68	FIDI
FDMO	-0.54	0.72	-0.58	-0.68		FDMO
	FDEM	FSMD	FIVA	FIDI	FDMO

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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

FIDI	+ 0.97	FIVA
FIVA	+ 0.81	FDEM
FIDI	+ 0.79	FDEM
FDMO	+ 0.72	FSMD

High negative correlations

FDMO	- 0.68	FIDI
FDMO	- 0.58	FIVA
FDMO	- 0.54	FDEM
FSMD	- 0.38	FDEM
FIDI	- 0.2	FSMD
FIVA	- 0.1	FSMD

Fidelity International Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity International 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 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
FDEM	0.66	(0.10)	0.00	(1.05)	0.00	0.00	1.00	(1.48)	4.39
FSMD	0.69	0.00	(0.01)	0.01	0.90	(0.78)	1.56	(1.15)	8.58
FIVA	0.56	(0.12)	0.00	(1.67)	0.00	0.00	0.94	(1.58)	4.04
FIDI	0.52	(0.12)	0.00	(5.06)	0.00	0.00	0.97	(1.42)	3.62
FDMO	0.76	0.09	0.07	0.31	1.00	(0.76)	1.66	(1.47)	6.34

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