Fidelity Global Correlations

FGEB Etf

11.33 0.01 0.09%

The current 90-days correlation between Fidelity Global Equity and Fidelity Global Value is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Global Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity Global Correlation With Market

Modest diversification

The correlation between Fidelity Global Equity and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Global Equity and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Fidelity Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fidelity Global when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fidelity Global - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fidelity Global Equity to buy it.

Moving together with Fidelity Etf

0.96	VBAL	Vanguard Balanced	Pair Corr
0.96	XBAL	iShares Core Balanced	Pair Corr
0.97	ZMI	BMO Monthly Income	Pair Corr
0.95	ZESG	BMO Balanced ESG	Pair Corr
0.96	GBAL	iShares ESG Balanced	Pair Corr
0.96	ZBAL	BMO Balanced ETF	Pair Corr
0.95	XCNS	iShares Core Conservative	Pair Corr
0.95	MBAL	Mackenzie Balanced	Pair Corr
0.94	CGAA	CI Global Asset	Pair Corr
0.93	FCGI	Fidelity Global Monthly	Pair Corr
0.96	XIU	iShares SPTSX 60	Pair Corr
0.97	XSP	iShares Core SP	Pair Corr
0.96	XIC	iShares Core SPTSX	Pair Corr
0.96	ZCN	BMO SPTSX Capped	Pair Corr
0.96	ZSP	BMO SP 500	Pair Corr
0.96	VFV	Vanguard SP 500	Pair Corr
0.97	ZEB	BMO SPTSX Equal	Pair Corr

Moving against Fidelity Etf

0.72

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	FGEB	FGLS	FCMO	FCCD	FBAL	FBTC	FCGC	FCUB	FCIV
FGEB		-0.87	0.95	0.95	0.94	0.88	0.95	0.56	0.94	FGEB
FGLS	-0.87		-0.94	-0.92	-0.94	-0.86	-0.93	-0.3	-0.91	FGLS
FCMO	0.95	-0.94		0.94	0.99	0.9	0.98	0.45	0.97	FCMO
FCCD	0.95	-0.92	0.94		0.96	0.88	0.96	0.49	0.95	FCCD
FBAL	0.94	-0.94	0.99	0.96		0.89	0.98	0.44	0.98	FBAL
FBTC	0.88	-0.86	0.9	0.88	0.89		0.89	0.23	0.9	FBTC
FCGC	0.95	-0.93	0.98	0.96	0.98	0.89		0.43	0.96	FCGC
FCUB	0.56	-0.3	0.45	0.49	0.44	0.23	0.43		0.45	FCUB
FCIV	0.94	-0.91	0.97	0.95	0.98	0.9	0.96	0.45		FCIV
	FGEB	FGLS	FCMO	FCCD	FBAL	FBTC	FCGC	FCUB	FCIV

Click cells to compare fundamentals

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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

FBAL	+ 0.99	FCMO
FCGC	+ 0.98	FCMO
FCGC	+ 0.98	FBAL
FCIV	+ 0.98	FBAL
FCIV	+ 0.97	FCMO
FBAL	+ 0.96	FCCD

High negative correlations

FBAL	- 0.94	FGLS
FCMO	- 0.94	FGLS
FCGC	- 0.93	FGLS
FCCD	- 0.92	FGLS
FCIV	- 0.91	FGLS
FGLS	- 0.87	FGEB

Fidelity Global Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Global ETF 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 Global'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
FGEB	0.49	0.10	(0.01)	0.65	0.35	(0.59)	1.26	(0.89)	3.04
FGLS	0.93	(0.16)	0.00	0.67	0.00	0.00	1.78	(2.19)	5.79
FCMO	0.97	0.25	0.11	1.66	0.97	(1.17)	2.95	(1.39)	6.13
FCCD	0.32	0.15	0.04	(9.82)	0.00	(0.41)	0.83	(0.51)	1.71
FBAL	0.35	0.08	(0.10)	3.77	0.21	(0.43)	0.75	(0.75)	2.24
FBTC	1.63	0.49	0.21	(27.80)	1.33	(1.91)	4.07	(2.74)	9.24
FCGC	0.81	0.18	0.06	1.69	0.85	(0.93)	2.01	(1.38)	6.34
FCUB	0.20	0.00	(0.35)	0.00	0.26	(0.23)	0.44	(0.52)	1.35
FCIV	0.59	0.16	0.04	(2.62)	0.39	(0.68)	1.23	(0.99)	3.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fidelity Global without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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