Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Growth
FIIIX Fund  USD 22.52  0.02  0.09%   
The current 90-days correlation between Fidelity International and Fidelity Freedom 2015 is 0.81 (i.e., Very poor 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 0.74 (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

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.96FPURX Fidelity PuritanPairCorr
  0.96FPUKX Fidelity PuritanPairCorr
  0.67FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.93FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.96FRBDX Fidelity Freedom 2070PairCorr
  0.96FRBEX Fidelity Freedom 2070PairCorr
  0.96FRBHX Fidelity Freedom 2070PairCorr
  0.96FRBJX Fidelity Advisor FreedomPairCorr
  0.97FRBKX Fidelity Advisor FreedomPairCorr
  0.96FRBLX Fidelity Advisor FreedomPairCorr
  0.97FRBOX Fidelity Advisor FreedomPairCorr
  0.96FRBPX Fidelity Advisor FreedomPairCorr
  0.96FRBQX Fidelity Flex FreedomPairCorr
  0.96FRBUX Fidelity Freedom IndexPairCorr
  0.97FRBVX Fidelity Freedom IndexPairCorr
  0.97FRBWX Fidelity Freedom IndexPairCorr
  0.96FRBYX Fidelity Freedom BlendPairCorr
  0.96FRBZX Fidelity Freedom BlendPairCorr
  0.97FRAGX Aggressive GrowthPairCorr
  0.91FRAMX Fidelity Income ReplPairCorr
  0.93FRASX Fidelity Income ReplPairCorr
  0.97FRCFX Fidelity Freedom BlendPairCorr
  0.96FRCHX Fidelity Freedom BlendPairCorr
  0.96FRCKX Fidelity Freedom BlendPairCorr
  0.96FRCLX Fidelity Freedom BlendPairCorr
  0.96FRCNX Fidelity Freedom BlendPairCorr
  0.96FRCPX Fidelity Freedom BlendPairCorr
  0.96FRCQX Fidelity SustainablePairCorr
  0.96FRCRX Fidelity SustainablePairCorr
  0.96FRCVX Fidelity SustainablePairCorr
  0.96FRCWX Fidelity SustainablePairCorr
  0.96FRCYX Fidelity SustainablePairCorr
  0.96FRDCX Fidelity SustainablePairCorr
  0.98FRDDX Fidelity SustainablePairCorr
  0.98FRDEX Fidelity SustainablePairCorr
  0.96FRGAX 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 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.24  0.06 (0.16) 0.37  0.00 
(0.29)
 0.68 
(0.50)
 1.67 
FPURX  0.39  0.08  0.01  0.31  0.00 
(0.45)
 1.28 
(0.78)
 2.85 
FPUKX  0.40  0.08  0.01  0.31  0.00 
(0.46)
 1.32 
(0.78)
 2.90 
FPXTX  0.12 (0.01)(0.85)(0.05) 0.11 
(0.18)
 0.30 
(0.20)
 0.89 
FQIFX  0.31  0.07 (0.06) 0.33  0.00 
(0.36)
 0.96 
(0.60)
 2.17 
FQIPX  0.45  0.12  0.09  0.35  0.07 
(0.56)
 1.48 
(0.87)
 3.29 
FQITX  0.54  0.06 (0.05) 0.31  0.62 
(0.60)
 1.27 
(1.14)
 3.58 
FQLSX  0.45  0.13  0.10  0.37  0.00 
(0.57)
 1.53 
(0.84)
 3.33 
FRBDX  0.48  0.23  0.07 (3.38) 0.26 
(0.60)
 1.61 
(1.11)
 3.27 
FRBEX  0.47  0.23  0.07 (4.07) 0.22 
(0.58)
 1.61 
(1.11)
 3.18 

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