Fidelity Total Correlations

Mutual Funds . USA . 
Fund . Fidelity Total International
FIEZX Fund  USD 11.71  0.08  0.68%   
The current 90-days correlation between Fidelity Total Inter and Fidelity Emerging Markets is 0.9 (i.e., Almost no diversification). The correlation of Fidelity Total 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 Total Correlation With Market

Significant diversification

The correlation between Fidelity Total International and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Total International 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 Total International. 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 nation.

Moving together with Fidelity Mutual Fund

  0.9FQITX Fidelity Salem StreetPairCorr
  0.68FRIMX Fidelity Income ReplPairCorr
  0.68FRQIX Fidelity Income ReplPairCorr
  0.62FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.69FRPCX Fidelity Sai AlternativePairCorr
  0.4FPURX Fidelity PuritanPairCorr
  0.4FPUKX Fidelity PuritanPairCorr
  0.66FAFSX Fidelity Advisor FinPairCorr
  0.66FAFDX Fidelity Advisor FinPairCorr
  0.66FAFCX Fidelity Advisor FinPairCorr
  0.57FACVX Fidelity VertiblePairCorr
  0.56FAGKX Fidelity Growth StraPairCorr
  0.48FACPX Fidelity Advisor SumerPairCorr
  0.45FACGX Fidelity Advisor GrowthPairCorr
  0.45FAGOX Fidelity Advisor GrowthPairCorr
  0.45FAGCX Fidelity Advisor GrowthPairCorr

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   
FSMAX
+ 0.99
FSMDX
FSMDX
+ 0.98
FSSNX
FSMAX
+ 0.98
FSSNX
FXNAX
+ 0.25
FPADX
  
High negative correlations   
FSMAX
- 0.57
FPADX
FSSNX
- 0.56
FPADX
FSMDX
- 0.52
FPADX
FSMAX
- 0.5
FXNAX
FSMDX
- 0.49
FXNAX
FXNAX
- 0.45
FSSNX

Risk-Adjusted Indicators

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