Fidelity International Correlations

Mutual Funds USA . 
Fund . Fidelity International Discovery
FIADX Fund  USD 50.88  0.12  0.24%   
The current 90-days correlation between Fidelity International and The Hartford Inflation is 0.32 (i.e., Weak 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 0.42 (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

  0.82FAGIX Fidelity Capital IncomePairCorr
  0.61FSHBX Fidelity Short TermPairCorr
  0.88FSNVX Fidelity Freedom 2040PairCorr
  0.85FSTFX Fidelity Limited TermPairCorr
  0.78FCLKX Fidelity Large CapPairCorr
  0.72FUEMX Fidelity Flex ServativePairCorr
  0.66FEATX Fidelity Advisor EmergingPairCorr
  0.66FERCX Fidelity Advisor EmergingPairCorr
  0.87FFFFX Fidelity Freedom 2040PairCorr
  0.86FGDIX Fidelity Advisor GoldPairCorr
  0.9FGWMX Fidelity New MarketsPairCorr
  0.76FYLSX Fidelity Flex FreedomPairCorr
  0.84FHKAX Fidelity China RegionPairCorr
  0.69FHNFX Fidelity Series GovePairCorr
  0.79FZABX Fidelity Advisor DivPairCorr
  0.89FHRVX Fidelity Managed RetPairCorr
  0.88FHTKX Fidelity Freedom 2040PairCorr
  0.81FIKMX Fidelity Real EstatePairCorr
  0.63FLTMX Fidelity IntermediatePairCorr
  0.95FPIPX Fidelity Freedom IndexPairCorr
  0.87FPIOX Strategic Advisers IncomePairCorr
  0.79RERFX Europacific GrowthPairCorr
  0.79AEPFX Europacific GrowthPairCorr
  0.78CEUAX Europacific GrowthPairCorr
  0.76CEUCX Europacific GrowthPairCorr
  0.77RERCX Europacific GrowthPairCorr

Related Correlations Analysis

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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.

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