Fidelity International Correlations

FSCOX Fund

USD 20.72 0.10 0.48%

The current 90-days correlation between Fidelity International and Fidelity International Small is 0.95 (i.e., Almost no 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

Very good diversification

The correlation between Fidelity International Small and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Small 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 Small. 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 persons.

Moving together with Fidelity Mutual Fund

0.86	FPTKX	Fidelity Freedom 2015	Pair Corr
0.65	FPXTX	Fidelity Pennsylvania	Pair Corr
0.77	FQIFX	Fidelity Freedom Index	Pair Corr
0.91	FQITX	Fidelity Salem Street	Pair Corr
0.63	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.64	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.91	FRAMX	Fidelity Income Repl	Pair Corr
0.89	FRASX	Fidelity Income Repl	Pair Corr
0.81	FRESX	Fidelity Real Estate	Pair Corr
0.9	FRIFX	Fidelity Real Estate	Pair Corr

Moving against Fidelity Mutual Fund

0.33

FPUKX

Fidelity Puritan

Pair Corr

Related Correlations Analysis

	FISMX	FIVLX	FIREX	FNORX	FEMKX
FISMX		0.97	0.92	0.95	0.3	FISMX
FIVLX	0.97		0.86	0.97	0.12	FIVLX
FIREX	0.92	0.86		0.88	0.4	FIREX
FNORX	0.95	0.97	0.88		0.15	FNORX
FEMKX	0.3	0.12	0.4	0.15		FEMKX
	FISMX	FIVLX	FIREX	FNORX	FEMKX

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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
FISMX	0.50	0.08	0.11	(0.41)	0.60	(0.51)	1.37	(1.09)	3.78
FIVLX	0.69	0.20	0.21	(0.83)	0.65	(0.80)	1.58	(1.17)	5.06
FIREX	0.57	0.05	0.06	(0.26)	0.69	(0.58)	1.03	(1.20)	2.79
FNORX	0.94	0.09	0.07	(0.20)	1.20	(0.89)	2.04	(1.76)	7.25
FEMKX	0.90	(0.02)	0.00	0.17	0.00	0.00	1.57	(2.26)	5.77

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