Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Growth
FIIIX Fund  USD 22.88  0.36  1.60%   
The current 90-days correlation between Fidelity International and Prudential High Yield is 0.07 (i.e., Significant diversification). The correlation of Fidelity International 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 International Correlation With Market

Poor diversification

The correlation between Fidelity International Growth and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Growth 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 International Growth. 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.95FPURX Fidelity PuritanPairCorr
  0.96FPUKX Fidelity PuritanPairCorr
  0.66FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.91FRAMX Fidelity Income ReplPairCorr
  0.96FRCRX Fidelity SustainablePairCorr
  0.69FRESX Fidelity Real EstatePairCorr
  0.89FRIFX Fidelity Real EstatePairCorr
  0.86FRIOX Fidelity Real EstatePairCorr
  0.91FRQAX Fidelity Income ReplPairCorr
  0.96FAASX Fidelity Asset ManagerPairCorr
  0.95FAAIX Fidelity Asset ManagerPairCorr
  0.95FACPX Fidelity Advisor SumerPairCorr
  0.94FADTX Fidelity Advisor TecPairCorr
  0.95FADIX Fidelity Advisor DivPairCorr
  0.96FADAX Fidelity Advisor DividendPairCorr
  0.96FAEGX Fidelity Advisor EquityPairCorr
  0.96FAFSX Fidelity Advisor FinPairCorr
  0.96FAFDX Fidelity Advisor FinPairCorr
  0.96FAFCX Fidelity Advisor FinPairCorr
  0.94FAGOX Fidelity Advisor GrowthPairCorr
  0.78FAGNX Fidelity Advisor EnergyPairCorr
  0.94FAGIX Fidelity Capital IncomePairCorr
  0.94FAGCX Fidelity Advisor GrowthPairCorr
  0.94FAGAX Fidelity Advisor GrowthPairCorr
  0.96FTF Franklin TempletonPairCorr
  0.94FAHEX Fidelity Advisor HighPairCorr
  0.95FAIDX Fidelity InternationalPairCorr
  0.94FAMKX Fidelity Advisor EmergingPairCorr
  0.95FSATX Fidelity Asset ManagerPairCorr
  0.91FSAVX Automotive PortfolioPairCorr
  0.94FSAWX Fidelity Sai ConvertiblePairCorr
  0.74FSAZX Fidelity Arizona MunPairCorr
  0.79FANIX Fidelity Advisor EnergyPairCorr
  0.78FANAX Fidelity Advisor EnergyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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