Fidelity Japan Correlations

Mutual Funds . USA . 
Fund . Fidelity Japan Fund
FJPTX Fund  USD 18.84  0.13  0.69%   
The current 90-days correlation between Fidelity Japan and Fidelity New Markets is 0.28 (i.e., Modest 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

Good diversification

The correlation between Fidelity Japan Fund and DJI is -0.04 (i.e., Good 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 estimate.

Moving together with Fidelity Mutual Fund

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.93FPURX Fidelity PuritanPairCorr
  0.93FPUKX Fidelity PuritanPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.94FQIPX Fidelity Freedom IndexPairCorr
  0.95FRBEX Fidelity Freedom 2070PairCorr
  0.95FRBKX Fidelity Advisor FreedomPairCorr
  0.95FRBLX Fidelity Advisor FreedomPairCorr
  0.95FRBQX Fidelity Flex FreedomPairCorr
  0.95FRBYX Fidelity Freedom BlendPairCorr
  0.93FRAMX Fidelity Income ReplPairCorr
  0.95FRCNX Fidelity Freedom BlendPairCorr
  0.95FRCPX Fidelity Freedom BlendPairCorr
  0.95FRCRX Fidelity SustainablePairCorr
  0.95FRCWX Fidelity SustainablePairCorr
  0.95FRCYX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr
  0.62FRESX Fidelity Real EstatePairCorr
  0.88FRIFX Fidelity Real EstatePairCorr
  0.9FRIOX Fidelity Real EstatePairCorr
  0.89FRIRX Fidelity Real EstatePairCorr
  0.94FRLPX Fidelity Freedom IndexPairCorr
  0.68FROGX Fidelity Municipal IncomePairCorr
  0.93FRQIX Fidelity Income ReplPairCorr
  0.93FRQAX Fidelity Income ReplPairCorr
  0.95FAASX Fidelity Asset ManagerPairCorr
  0.95FAAIX Fidelity Asset ManagerPairCorr
  0.89FACVX Fidelity ConvertiblePairCorr
  0.87FACPX Fidelity Advisor SumerPairCorr
  0.97FACNX Fidelity CanadaPairCorr
  0.82FACFX Fidelity Advisor FreedomPairCorr
  0.92FADTX Fidelity Advisor TecPairCorr
  0.91FADMX Fidelity Advisor StrPairCorr
  0.98FADIX Fidelity Advisor DivPairCorr
  0.96FADCX Fidelity Advisor DivPairCorr
  0.94FADAX Fidelity Advisor DividendPairCorr
  0.93FAEGX Fidelity Advisor EquityPairCorr

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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