Fidelity Worldwide Correlations

Mutual Funds . USA . 
Fund . Fidelity Worldwide Fund
FWCFX Fund  USD 30.83  0.59  1.95%   
The current 90-days correlation between Fidelity Worldwide and Fidelity Worldwide Fund is -0.12 (i.e., Good 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

Good diversification

The correlation between Fidelity Worldwide Fund and DJI is -0.02 (i.e., Good 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

  0.82FPURX Fidelity PuritanPairCorr
  0.99FPUKX Fidelity PuritanPairCorr
  0.63FQIPX Fidelity Freedom IndexPairCorr
  0.65FQLSX Fidelity Flex FreedomPairCorr
  0.64FRBQX Fidelity Flex FreedomPairCorr
  0.64FRBVX Fidelity Freedom IndexPairCorr
  0.63FRBWX Fidelity Freedom IndexPairCorr
  0.65FRBZX Fidelity Freedom BlendPairCorr
  0.82FRAGX Aggressive GrowthPairCorr
  0.69FRCKX Fidelity Freedom BlendPairCorr
  0.65FRCNX Fidelity Freedom BlendPairCorr
  0.72FRCQX Fidelity SustainablePairCorr
  0.72FRCRX Fidelity SustainablePairCorr
  0.66FRCVX Fidelity SustainablePairCorr
  0.62FRCWX Fidelity SustainablePairCorr
  0.64FRDCX Fidelity SustainablePairCorr
  0.73FRGAX Growth Allocation IndexPairCorr

Moving against Fidelity Mutual Fund

  0.51FRIFX Fidelity Real EstatePairCorr
  0.51FRIRX Fidelity Real EstatePairCorr
  0.49FRIQX Fidelity Real EstatePairCorr
  0.48FRINX Fidelity Real EstatePairCorr
  0.33FRHMX Fidelity Managed RetPairCorr
  0.33FRKMX Fidelity Managed RetPairCorr

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   
FWIFX
+ 1.0
FWAFX
FWTFX
+ 0.94
FWAFX
FWIFX
+ 0.94
FWTFX
FICSX
+ 0.77
FCPCX
FCPCX
+ 0.14
FWAFX
FCPCX
+ 0.14
FWTFX
  
High negative correlations   
FICSX
- 0.5
FWIFX
FICSX
- 0.5
FWAFX
FICSX
- 0.43
FWTFX

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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