Fidelity Worldwide Correlations

Mutual Funds . USA . 
Fund . Fidelity Worldwide Fund
FWAFX Fund  USD 34.63  0.02  0.06%   
The current 90-days correlation between Fidelity Worldwide and Fidelity Small Cap is 0.53 (i.e., Very weak diversification). The correlation of Fidelity Worldwide 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 Worldwide Correlation With Market

Average diversification

The correlation between Fidelity Worldwide Fund and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Worldwide 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 Worldwide 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

  0.76FPTKX Fidelity Freedom 2015PairCorr
  0.66FQIFX Fidelity Freedom IndexPairCorr
  0.74FQLSX Fidelity Flex FreedomPairCorr
  0.76FRAMX Fidelity Income ReplPairCorr
  0.77FRASX Fidelity Income ReplPairCorr
  0.88FRESX Fidelity Real EstatePairCorr
  0.85FRIFX Fidelity Real EstatePairCorr
  0.75FRIMX Fidelity Income ReplPairCorr
  0.88FRINX Fidelity Real EstatePairCorr
  0.88FRIOX Fidelity Real EstatePairCorr
  0.88FRIQX Fidelity Real EstatePairCorr
  0.75FRHMX Fidelity Managed RetPairCorr
  0.75FRKMX Fidelity Managed RetPairCorr
  0.84FRIRX Fidelity Real EstatePairCorr
  0.66FRLPX Fidelity Freedom IndexPairCorr
  0.65FROGX Fidelity Municipal IncomePairCorr
  0.75FRQHX Fidelity Managed RetPairCorr
  0.68FRQIX Fidelity Income ReplPairCorr
  0.75FRQKX Fidelity Managed RetPairCorr
  0.77FRPDX Fidelity Sai AlternativePairCorr
  0.76FRQAX Fidelity Income ReplPairCorr
  0.69FAASX Fidelity Asset ManagerPairCorr
  0.69FAAIX Fidelity Asset ManagerPairCorr
  0.8FACTX Fidelity Advisor HealthPairCorr
  0.99FACNX Fidelity CanadaPairCorr
  0.77FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.69FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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