Fidelity Total Correlations

Mutual Funds . USA . 
Fund . Fidelity Total International
FTIEX Fund  USD 12.53  0.05  0.40%   
The current 90-days correlation between Fidelity Total Inter and Fidelity International Value is 0.93 (i.e., Almost no diversification). The correlation of Fidelity Total 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 Total Correlation With Market

Good diversification

The correlation between Fidelity Total International and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Total International 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 Total 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 income.

Moving together with Fidelity Mutual Fund

  0.85FPTKX Fidelity Freedom 2015PairCorr
  0.88FRINX Fidelity Real EstatePairCorr
  0.62FRIOX Fidelity Real EstatePairCorr
  0.85FRIQX Fidelity Real EstatePairCorr
  0.85FRIRX Fidelity Real EstatePairCorr
  0.89FRQIX Fidelity Income ReplPairCorr
  0.91FRQAX Fidelity Income ReplPairCorr
  0.93FADIX Fidelity Advisor DivPairCorr
  0.94FADCX Fidelity Advisor DivPairCorr
  0.65FSAWX Fidelity Sai ConvertiblePairCorr

Moving against Fidelity Mutual Fund

  0.64FACPX Fidelity Advisor Sumer Steady GrowthPairCorr
  0.55FADTX Fidelity Advisor TecPairCorr
  0.46FAEGX Fidelity Advisor EquityPairCorr
  0.39FAGAX Fidelity Advisor GrowthPairCorr
  0.55FASPX Fidelity Advisor ValuePairCorr
  0.53FSCEX Fidelity Advisor SmallPairCorr
  0.53FAPMX Fidelity Summer StreetPairCorr
  0.47FSEBX Fidelity Advisor SusPairCorr
  0.47FSHOX Construction And HousingPairCorr
  0.41FSCSX Software And ItPairCorr
  0.34FSCPX Consumer Discretionary Steady GrowthPairCorr

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   
FSCOX
+ 0.86
FIVLX
FSCOX
+ 0.7
FIGFX
FIGFX
+ 0.53
FIVLX
FIENX
+ 0.0
FIVLX
FTEMX
+ 0.0
FIVLX
FIENX
+ 0.0
FIGFX
  
High negative correlations   
FSCOX
- 0.0
FTEMX
FSCOX
- 0.0
FIENX
FTEMX
- 0.0
FIENX
FTEMX
- 0.0
FIGFX
FIENX
- 0.0
FIGFX
FTEMX
- 0.0
FIVLX

Risk-Adjusted Indicators

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