Fidelity Series Correlations

Mutual Funds . USA . 
Fund . Fidelity Series Overseas
FSOSX Fund  USD 14.70  0.05  0.34%   
The current 90-days correlation between Fidelity Series Overseas and Pace Large Value is 0.19 (i.e., Average diversification). The correlation of Fidelity Series 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 Series Correlation With Market

Average diversification

The correlation between Fidelity Series Overseas and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Series Overseas 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 Series Overseas. 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 state.

Moving together with Fidelity Mutual Fund

  0.68FPTKX Fidelity Freedom 2015PairCorr
  0.62FPXTX Fidelity PennsylvaniaPairCorr
  0.61FQIFX Fidelity Freedom IndexPairCorr
  0.8FQITX Fidelity Salem StreetPairCorr
  0.71FRASX Fidelity Income ReplPairCorr
  0.67FRESX Fidelity Real EstatePairCorr
  0.67FRIFX Fidelity Real EstatePairCorr
  0.71FRIMX Fidelity Income ReplPairCorr
  0.73FRINX Fidelity Real EstatePairCorr
  0.68FRIOX Fidelity Real EstatePairCorr
  0.74FRIQX Fidelity Real EstatePairCorr
  0.71FRKMX Fidelity Managed RetPairCorr
  0.67FRIRX Fidelity Real EstatePairCorr
  0.62FROGX Fidelity Municipal IncomePairCorr
  0.71FRQHX Fidelity Managed RetPairCorr
  0.71FRQIX Fidelity Income ReplPairCorr
  0.72FRQAX Fidelity Income ReplPairCorr
  0.72FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.46FADTX Fidelity Advisor TecPairCorr
  0.36FAEGX Fidelity Advisor EquityPairCorr
  0.35FACPX Fidelity Advisor SumerPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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