International Fund Correlations

Mutual Funds . USA . 
Fund . International Fund International
FMIJX Fund  USD 36.48  0.02  0.05%   
The current 90-days correlation between International Fund and Large Cap Growth is 0.71 (i.e., Poor diversification). The correlation of International Fund 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.

International Fund Correlation With Market

Good diversification

The correlation between International Fund Internation and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Fund Internation 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 International Fund 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 inflation.

Moving together with International Mutual Fund

  0.91FMIYX International FundPairCorr
  0.63FMIQX Large Cap FundPairCorr
  0.82FMIFX Fidelity Municipal IncomePairCorr
  0.64VGTSX Vanguard Total InterPairCorr
  0.64VTIAX Vanguard Total InterPairCorr
  0.64VTSNX Vanguard Total InterPairCorr
  0.65VTMGX Vanguard DevelopedPairCorr
  0.61VDVIX Vanguard DevelopedPairCorr
  0.61VTMNX Vanguard DevelopedPairCorr
  0.61VDIPX Vanguard DevelopedPairCorr
  0.61FSPSX Fidelity InternationalPairCorr
  0.84EUGCX Morgan Stanley EuropeanPairCorr
  0.73AHITX American High IncomePairCorr
  0.76DABMX Dreyfus Yield EnhancementPairCorr
  0.76BNIEX Ubs InternationalPairCorr
  0.77IRVSX Voya Russelltm LargePairCorr
  0.75PDSQX Prudential Short DurationPairCorr
  0.74STRAX Stralem EquityPairCorr

Moving against International Mutual Fund

  0.39RSNYX Victory Global NaturalPairCorr

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   
PARMX
+ 0.95
GTLLX
PRBLX
+ 0.95
GTLLX
PRBLX
+ 0.95
PARMX
SFGIX
+ 0.79
DLTNX
  
High negative correlations   
DLTNX
- 0.52
GTLLX
DLTNX
- 0.4
PARMX
DLTNX
- 0.31
PRBLX
SFGIX
- 0.25
GTLLX
SFGIX
- 0.2
PARMX
SFGIX
- 0.07
PRBLX

Risk-Adjusted Indicators

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