Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Capital
FIVFX Fund  USD 32.44  0.25  0.76%   
The current 90-days correlation between Fidelity International and Fidelity Worldwide Fund is 0.93 (i.e., Almost no 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

Very poor diversification

The correlation between Fidelity International Capital and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Capital 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 Capital. 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

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.97FPURX Fidelity PuritanPairCorr
  0.97FPUKX Fidelity PuritanPairCorr
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.96FQITX Fidelity Salem StreetPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.99FRBDX Fidelity Freedom 2070PairCorr
  0.99FRBEX Fidelity Freedom 2070PairCorr
  0.99FRBHX Fidelity Freedom 2070PairCorr
  0.99FRBJX Fidelity Advisor FreedomPairCorr
  0.99FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBOX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBUX Fidelity Freedom IndexPairCorr
  0.99FRBVX Fidelity Freedom IndexPairCorr
  0.99FRBWX Fidelity Freedom IndexPairCorr
  0.99FRBYX Fidelity Freedom BlendPairCorr
  0.99FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCLX Fidelity Freedom BlendPairCorr
  0.99FRCNX Fidelity Freedom BlendPairCorr
  0.99FRCPX Fidelity Freedom BlendPairCorr
  0.99FRCRX Fidelity SustainablePairCorr
  0.99FRCWX Fidelity SustainablePairCorr
  0.99FRCYX Fidelity SustainablePairCorr
  0.99FRDCX Fidelity SustainablePairCorr
  0.99FRDEX Fidelity SustainablePairCorr
  0.98FRGAX Growth Allocation IndexPairCorr
  0.86FRESX Fidelity Real EstatePairCorr
  0.95FRIFX Fidelity Real EstatePairCorr
  0.96FRIMX Fidelity Income ReplPairCorr
  0.95FRINX Fidelity Real EstatePairCorr
  0.95FRIOX Fidelity Real EstatePairCorr
  0.95FRIQX Fidelity Real EstatePairCorr

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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