Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Capital
FIVFX Fund  USD 28.82  0.53  1.81%   
The current 90-days correlation between Fidelity International and Fidelity Worldwide Fund is 0.87 (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 Capital and DJI is -0.13 (i.e., Good 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

  0.9FPTKX Fidelity Freedom 2015PairCorr
  0.91FQIFX Fidelity Freedom IndexPairCorr
  0.9FQITX Fidelity Salem StreetPairCorr
  0.65FQLSX Fidelity Flex FreedomPairCorr
  0.83FRBDX Fidelity Freedom 2070PairCorr
  0.84FRBHX Fidelity Freedom 2070PairCorr
  0.84FRBLX Fidelity Advisor FreedomPairCorr
  0.71FRBUX Fidelity Freedom IndexPairCorr
  0.81FRBYX Fidelity Freedom BlendPairCorr
  0.89FRASX Fidelity Income ReplPairCorr
  0.73FRCFX Fidelity Freedom BlendPairCorr
  0.81FRCLX Fidelity Freedom BlendPairCorr
  0.62FRCWX Fidelity SustainablePairCorr
  0.62FRGAX Growth Allocation IndexPairCorr
  0.82FRESX Fidelity Real EstatePairCorr
  0.76FRIFX Fidelity Real EstatePairCorr
  0.86FRIMX Fidelity Income ReplPairCorr
  0.77FRINX Fidelity Real EstatePairCorr
  0.77FRIOX Fidelity Real EstatePairCorr
  0.76FRIQX Fidelity Real EstatePairCorr
  0.89FRKMX Fidelity Managed RetPairCorr
  0.77FRIRX Fidelity Real EstatePairCorr
  0.71FRLPX Fidelity Freedom IndexPairCorr
  0.89FRQHX Fidelity Managed RetPairCorr
  0.89FRQIX Fidelity Income ReplPairCorr
  0.87FRQAX Fidelity Income ReplPairCorr
  0.76FACNX Fidelity CanadaPairCorr
  0.89FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.37FADTX Fidelity Advisor TecPairCorr

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
+ 0.92
FPBFX
FJPNX
+ 0.9
FPBFX
FJPNX
+ 0.88
FIEUX
FECAX
+ 0.61
FIEUX
FECAX
+ 0.57
FPBFX
FECAX
+ 0.41
FJPNX
  
High negative correlations   
FIEUX
- 0.44
FWWFX
FJPNX
- 0.36
FWWFX
FPBFX
- 0.17
FWWFX
FECAX
- 0.15
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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