Fidelity Global Correlations

Mutual Funds . USA . 
Fund . Fidelity Global Equity
FGILX Fund  USD 21.43  0.15  0.70%   
The current 90-days correlation between Fidelity Global Equity and Fidelity Emerging Markets is -0.05 (i.e., Good diversification). The correlation of Fidelity Global 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 Global Correlation With Market

Poor diversification

The correlation between Fidelity Global Equity and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Global Equity 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 Global Equity. 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  0.89FPTKX Fidelity Freedom 2015PairCorr
  0.67FPXTX Fidelity PennsylvaniaPairCorr
  0.79FQIFX Fidelity Freedom IndexPairCorr
  0.91FQITX Fidelity Salem StreetPairCorr
  0.66FRBDX Fidelity Freedom 2070PairCorr
  0.66FRBEX Fidelity Freedom 2070PairCorr
  0.66FRBHX Fidelity Freedom 2070PairCorr
  0.61FRBJX Fidelity Advisor FreedomPairCorr
  0.69FRBKX Fidelity Advisor FreedomPairCorr
  0.68FRBLX Fidelity Advisor FreedomPairCorr
  0.71FRBOX Fidelity Advisor FreedomPairCorr
  0.71FRBPX Fidelity Advisor FreedomPairCorr
  0.66FRBUX Fidelity Freedom IndexPairCorr
  0.67FRBWX Fidelity Freedom IndexPairCorr
  0.65FRBYX Fidelity Freedom BlendPairCorr
  0.65FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.9FRASX Fidelity Income ReplPairCorr
  0.65FRCFX Fidelity Freedom BlendPairCorr
  0.61FRCKX Fidelity Freedom BlendPairCorr
  0.64FRCLX Fidelity Freedom BlendPairCorr
  0.84FRESX Fidelity Real EstatePairCorr
  0.88FRIFX Fidelity Real EstatePairCorr

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   
FIVLX
+ 0.95
FTIEX
FTIEX
+ 0.84
FEDDX
FIVLX
+ 0.8
FEDDX
FTEMX
+ 0.0
FEDDX
FIENX
+ 0.0
FEDDX
FTEMX
+ 0.0
FTIEX
  
High negative correlations   
FIENX
- 0.0
FIVLX
FIENX
- 0.0
FTEMX
FIVLX
- 0.0
FTEMX
FIENX
- 0.0
FTIEX
FTEMX
- 0.0
FTIEX
FIENX
- 0.0
FEDDX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Global 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 Global'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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