Fidelity Japan Correlations

Mutual Funds . USA . 
Fund . Fidelity Japan Fund
FJPNX Fund  USD 18.85  0.13  0.68%   
The current 90-days correlation between Fidelity Japan and Fidelity Europe Fund is 0.61 (i.e., Poor diversification). The correlation of Fidelity Japan 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 Japan Correlation With Market

Very weak diversification

The correlation between Fidelity Japan Fund and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Japan Fund 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 Japan Fund. 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 board of governors.

Moving together with Fidelity Mutual Fund

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  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.9FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.94FRBDX Fidelity Freedom 2070PairCorr
  0.94FRBEX Fidelity Freedom 2070PairCorr
  0.94FRBHX Fidelity Freedom 2070PairCorr
  0.95FRBJX Fidelity Advisor FreedomPairCorr
  0.94FRBKX Fidelity Advisor FreedomPairCorr
  0.94FRBLX Fidelity Advisor FreedomPairCorr
  0.94FRBOX Fidelity Advisor FreedomPairCorr
  0.95FRBPX Fidelity Advisor FreedomPairCorr
  0.95FRBQX Fidelity Flex FreedomPairCorr
  0.94FRBUX Fidelity Freedom IndexPairCorr
  0.95FRBVX Fidelity Freedom IndexPairCorr
  0.94FRBWX Fidelity Freedom IndexPairCorr
  0.94FRBYX Fidelity Freedom BlendPairCorr
  0.94FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.93FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  0.95FRCFX Fidelity Freedom BlendPairCorr
  0.95FRCHX Fidelity Freedom BlendPairCorr
  0.95FRCKX Fidelity Freedom BlendPairCorr
  0.94FRCLX Fidelity Freedom BlendPairCorr
  0.94FRCNX Fidelity Freedom BlendPairCorr
  0.94FRCPX Fidelity Freedom BlendPairCorr
  0.94FRCQX Fidelity SustainablePairCorr
  0.94FRCRX Fidelity SustainablePairCorr
  0.95FRCVX Fidelity SustainablePairCorr
  0.94FRCWX Fidelity SustainablePairCorr
  0.94FRCYX Fidelity SustainablePairCorr
  0.95FRDCX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr
  0.94FRDEX Fidelity SustainablePairCorr
  0.95FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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