Fidelity International Correlations

FIREX Fund

USD 9.22 0.05 0.55%

The current 90-days correlation between Fidelity International and Fidelity International Small is 0.8 (i.e., Very 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

Good diversification

The correlation between Fidelity International Real and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Real 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 Real. 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 income.

Moving together with Fidelity Mutual Fund

0.7	FRIOX	Fidelity Real Estate	Pair Corr
0.86	FRIQX	Fidelity Real Estate	Pair Corr
0.86	FRIRX	Fidelity Real Estate	Pair Corr
0.92	FRQIX	Fidelity Income Repl	Pair Corr
0.92	FRQAX	Fidelity Income Repl	Pair Corr
0.88	FADIX	Fidelity Advisor Div	Pair Corr
0.88	FADCX	Fidelity Advisor Div	Pair Corr
0.61	FAFFX	Fidelity Advisor Freedom	Pair Corr
0.64	FSAWX	Fidelity Sai Convertible	Pair Corr
0.89	FAOAX	Fidelity Advisor Overseas	Pair Corr

Moving against Fidelity Mutual Fund

0.48	FACPX	Fidelity Advisor Sumer Steady Growth	Pair Corr
0.36	FAEGX	Fidelity Advisor Equity	Pair Corr
0.44	FSCEX	Fidelity Advisor Small	Pair Corr
0.44	FASPX	Fidelity Advisor Value	Pair Corr
0.38	FAPMX	Fidelity Summer Street	Pair Corr
0.37	FSHOX	Construction And Housing	Pair Corr
0.35	FSEBX	Fidelity Advisor Sus	Pair Corr

Related Correlations Analysis

	FSCOX	FRIFX	FISMX	FNORX	FRESX
FSCOX		0.83	0.91	0.91	0.83	FSCOX
FRIFX	0.83		0.83	0.89	0.85	FRIFX
FISMX	0.91	0.83		0.92	0.7	FISMX
FNORX	0.91	0.89	0.92		0.77	FNORX
FRESX	0.83	0.85	0.7	0.77		FRESX
	FSCOX	FRIFX	FISMX	FNORX	FRESX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FSCOX	0.65	0.08	0.09	(0.44)	0.77	(0.67)	1.58	(1.14)	4.79
FRIFX	0.25	0.03	0.10	0.17	0.20	(0.28)	0.58	(0.41)	1.09
FISMX	0.50	0.11	0.16	(0.82)	0.52	(0.54)	1.37	(0.80)	3.78
FNORX	0.91	0.18	0.15	(0.54)	0.95	(0.93)	2.04	(1.46)	7.25
FRESX	0.89	0.02	0.02	(0.07)	1.15	(0.87)	1.63	(1.78)	4.74

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