Fidelity Overseas Correlations

Mutual Funds . USA . 
Fund . Fidelity Overseas Fund
FOSFX Fund  USD 66.78  0.73  1.08%   
The current 90-days correlation between Fidelity Overseas and Fidelity Equity Income Fund is 0.27 (i.e., Modest diversification). The correlation of Fidelity Overseas 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 Overseas Correlation With Market

Weak diversification

The correlation between Fidelity Overseas Fund and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Overseas Fund 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 Overseas Fund. 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

  0.67FAFSX Fidelity Advisor FinPairCorr
  0.83FAGIX Fidelity Capital IncomePairCorr
  0.63FSHBX Fidelity Short TermPairCorr
  0.82FSNVX Fidelity Freedom 2040PairCorr
  0.82FSTFX Fidelity Limited TermPairCorr
  0.83FCLKX Fidelity Large CapPairCorr
  0.76FUEMX Fidelity Flex ServativePairCorr
  0.62FERCX Fidelity Advisor EmergingPairCorr
  0.86FFFFX Fidelity Freedom 2040PairCorr
  0.88FGDIX Fidelity Advisor GoldPairCorr
  0.9FGWMX Fidelity New MarketsPairCorr
  0.75FYLSX Fidelity Flex FreedomPairCorr
  0.72FHKAX Fidelity China RegionPairCorr
  0.68FHNFX Fidelity Series GovePairCorr
  0.78FZABX Fidelity Advisor DivPairCorr
  0.86FHRVX Fidelity Managed RetPairCorr
  0.87FHTKX Fidelity Freedom 2040PairCorr
  0.79FIKMX Fidelity Real EstatePairCorr
  0.69FIKBX Fidelity Advisor FinPairCorr
  0.93FPIPX Fidelity Freedom IndexPairCorr
  0.88FPIOX Strategic Advisers IncomePairCorr
  0.73RERFX Europacific GrowthPairCorr
  0.73AEPFX Europacific GrowthPairCorr
  0.72CEUAX Europacific GrowthPairCorr
  0.7CEUCX Europacific GrowthPairCorr
  0.72RERCX Europacific GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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