Fidelity Global Correlations

Mutual Funds . USA . 
Fund . Fidelity Global Equity
FGILX Fund  USD 23.27  0.04  0.17%   
The current 90-days correlation between Fidelity Global Equity and Fidelity Emerging Markets is 0.59 (i.e., Very weak diversification). The correlation of Fidelity Global 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 Global Correlation With Market

Very poor diversification

The correlation between Fidelity Global Equity and DJI is 0.83 (i.e., Very poor 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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Global Equity. 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.99FPURX Fidelity PuritanPairCorr
  0.99FPUKX Fidelity PuritanPairCorr
  0.69FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.89FQITX Fidelity Salem StreetPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.98FRBDX Fidelity Freedom 2070PairCorr
  0.98FRBEX Fidelity Freedom 2070PairCorr
  0.98FRBHX Fidelity Freedom 2070PairCorr
  0.99FRBJX Fidelity Advisor FreedomPairCorr
  0.98FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBLX Fidelity Advisor FreedomPairCorr
  0.99FRBOX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  0.98FRBUX Fidelity Freedom IndexPairCorr
  0.98FRBVX Fidelity Freedom IndexPairCorr
  0.98FRBWX Fidelity Freedom IndexPairCorr
  0.98FRBYX Fidelity Freedom BlendPairCorr
  0.99FRBZX Fidelity Freedom BlendPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.98FRASX Fidelity Income ReplPairCorr
  0.98FRCFX Fidelity Freedom BlendPairCorr
  0.98FRCHX Fidelity Freedom BlendPairCorr
  0.98FRCKX Fidelity Freedom BlendPairCorr
  0.98FRCLX Fidelity Freedom BlendPairCorr
  0.99FRCNX Fidelity Freedom BlendPairCorr
  0.99FRCPX Fidelity Freedom BlendPairCorr
  0.99FRCQX Fidelity SustainablePairCorr
  0.99FRCRX Fidelity SustainablePairCorr
  0.99FRCVX Fidelity SustainablePairCorr
  0.98FRCWX Fidelity SustainablePairCorr
  0.99FRCYX Fidelity SustainablePairCorr
  0.98FRDCX Fidelity SustainablePairCorr
  0.98FRDDX Fidelity SustainablePairCorr
  0.99FRDEX Fidelity SustainablePairCorr
  0.99FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Global 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 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FEDDX  0.50  0.21  0.18  0.75  0.00 
(0.62)
 1.41 
(1.01)
 3.26 
FIVLX  0.51  0.14  0.07  0.54  0.33 
(0.60)
 1.23 
(1.10)
 2.98 
FTIEX  0.46  0.14  0.11  0.48  0.00 
(0.56)
 1.32 
(0.76)
 3.20 
FPTKX  0.24  0.06 (0.10) 0.35  0.00 
(0.29)
 0.68 
(0.50)
 1.67 
FPURX  0.41  0.08  0.03  0.28  0.23 
(0.45)
 1.28 
(0.84)
 2.85 
FPUKX  0.41  0.08  0.03  0.27  0.25 
(0.46)
 1.32 
(0.88)
 2.90 
FPXTX  0.12 (0.01)(0.67) 0.01  0.10 
(0.18)
 0.30 
(0.20)
 0.89 
FQIFX  0.32  0.07 (0.02) 0.31  0.00 
(0.36)
 0.96 
(0.60)
 2.17 
FQIPX  0.47  0.11  0.10  0.31  0.30 
(0.57)
 1.48 
(1.18)
 3.29 
FQITX  0.56  0.05 (0.03) 0.26  0.64 
(0.60)
 1.27 
(1.14)
 3.58 

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