Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Capital
FIVFX Fund  USD 28.96  0.20  0.70%   
The current 90-days correlation between Fidelity International and Fidelity Worldwide Fund is 0.81 (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

Weak diversification

The correlation between Fidelity International Capital and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Capital 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 Capital. 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 census.

Moving together with Fidelity Mutual Fund

  0.8FAFSX Fidelity Advisor FinPairCorr
  0.73FAGIX Fidelity Capital IncomePairCorr
  0.96FSNVX Fidelity Freedom 2040PairCorr
  0.74FSTFX Fidelity Limited TermPairCorr
  0.78FTABX Fidelity Tax FreePairCorr
  0.73FCMAX Fidelity CaliforniaPairCorr
  0.8FCLKX Fidelity Large CapPairCorr
  0.75FEATX Fidelity Advisor EmergingPairCorr
  0.75FERCX Fidelity Advisor EmergingPairCorr
  0.96FFFFX Fidelity Freedom 2040PairCorr
  0.66FGDIX Fidelity Advisor GoldPairCorr
  0.73FGWMX Fidelity New MarketsPairCorr
  0.94FYLSX Fidelity Flex FreedomPairCorr
  0.72FHIGX Fidelity Municipal IncomePairCorr
  0.62FHKAX Fidelity China RegionPairCorr
  0.78FHNFX Fidelity Series GovePairCorr
  0.98FZABX Fidelity Advisor DivPairCorr
  0.9FHRVX Fidelity Managed RetPairCorr
  0.96FHTKX Fidelity Freedom 2040PairCorr
  0.77FIDSX Financial ServicesPairCorr
  0.85FIKMX Fidelity Real EstatePairCorr
  0.81FIKBX Fidelity Advisor FinPairCorr
  0.79FLTMX Fidelity IntermediatePairCorr
  0.94FPIPX Fidelity Freedom IndexPairCorr
  0.64FPIOX Strategic Advisers IncomePairCorr
  0.88RERFX Europacific GrowthPairCorr
  0.95AEPFX Europacific GrowthPairCorr
  0.95CEUAX Europacific GrowthPairCorr
  0.95CEUCX Europacific GrowthPairCorr
  0.95RERCX Europacific 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   
FIEUX
+ 0.88
FPBFX
FJPNX
+ 0.81
FWWFX
FECAX
+ 0.68
FIEUX
FJPNX
+ 0.65
FPBFX
FECAX
+ 0.51
FPBFX
FJPNX
+ 0.29
FIEUX
  
High negative correlations   
FECAX
- 0.4
FWWFX
FIEUX
- 0.14
FWWFX

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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