Fidelity International Correlations

FAIDX Fund

USD 50.63 0.14 0.28%

The current 90-days correlation between Fidelity International and John Hancock Government is 0.31 (i.e., Weak 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 weak diversification

The correlation between Fidelity International Discove and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Discove 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 Discovery. 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 unemployment.

Moving together with Fidelity Mutual Fund

0.83	FAGIX	Fidelity Capital Income	Pair Corr
0.88	FSNVX	Fidelity Freedom 2040	Pair Corr
0.85	FSTFX	Fidelity Limited Term	Pair Corr
0.81	FCLKX	Fidelity Large Cap	Pair Corr
0.71	FUEMX	Fidelity Flex Servative	Pair Corr
0.65	FEATX	Fidelity Advisor Emerging	Pair Corr
0.64	FERCX	Fidelity Advisor Emerging	Pair Corr
0.88	FFFFX	Fidelity Freedom 2040	Pair Corr
0.85	FGDIX	Fidelity Advisor Gold	Pair Corr
0.9	FGWMX	Fidelity New Markets	Pair Corr
0.77	FYLSX	Fidelity Flex Freedom	Pair Corr
0.84	FHKAX	Fidelity China Region	Pair Corr
0.69	FHNFX	Fidelity Series Gove	Pair Corr
0.78	FZABX	Fidelity Advisor Div	Pair Corr
0.89	FHRVX	Fidelity Managed Ret	Pair Corr
0.89	FHTKX	Fidelity Freedom 2040	Pair Corr
0.8	FIKMX	Fidelity Real Estate	Pair Corr
0.62	FLTMX	Fidelity Intermediate	Pair Corr
0.95	FPIPX	Fidelity Freedom Index	Pair Corr
0.87	FPIOX	Strategic Advisers Income	Pair Corr
0.79	RERFX	Europacific Growth	Pair Corr
0.78	AEPFX	Europacific Growth	Pair Corr
0.78	CEUAX	Europacific Growth	Pair Corr
0.75	CEUCX	Europacific Growth	Pair Corr
0.77	RERCX	Europacific Growth	Pair Corr

Related Correlations Analysis

	JGIFX	FITSX	AUNCX	RYAQX	PMUAX	CGTCX	AUNTX
JGIFX		0.99	0.72	-0.79	0.95	0.98	0.66	JGIFX
FITSX	0.99		0.75	-0.72	0.94	0.99	0.7	FITSX
AUNCX	0.72	0.75		-0.36	0.78	0.76	0.99	AUNCX
RYAQX	-0.79	-0.72	-0.36		-0.78	-0.66	-0.25	RYAQX
PMUAX	0.95	0.94	0.78	-0.78		0.93	0.73	PMUAX
CGTCX	0.98	0.99	0.76	-0.66	0.93		0.73	CGTCX
AUNTX	0.66	0.7	0.99	-0.25	0.73	0.73		AUNTX
	JGIFX	FITSX	AUNCX	RYAQX	PMUAX	CGTCX	AUNTX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FITSX	+ 0.99	JGIFX
CGTCX	+ 0.99	FITSX
AUNTX	+ 0.99	AUNCX
CGTCX	+ 0.98	JGIFX
PMUAX	+ 0.95	JGIFX
PMUAX	+ 0.94	FITSX

High negative correlations

RYAQX	- 0.79	JGIFX
PMUAX	- 0.78	RYAQX
RYAQX	- 0.72	FITSX
CGTCX	- 0.66	RYAQX
RYAQX	- 0.36	AUNCX
AUNTX	- 0.25	RYAQX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JGIFX	0.24	0.01	0.03	0.25	0.24	(0.28)	0.52	(0.52)	1.43
FITSX	0.26	0.02	0.05	0.28	0.24	(0.31)	0.57	(0.46)	1.60
AUNCX	0.11	0.00	(0.01)	0.21	0.13	(0.14)	0.28	(0.28)	0.94
RYAQX	0.60	0.01	0.01	0.18	0.81	(0.61)	1.21	(1.55)	3.10
PMUAX	0.14	0.00	0.00	0.11	0.15	(0.16)	0.25	(0.33)	0.91
CGTCX	0.25	0.02	0.05	0.25	0.22	(0.30)	0.60	(0.43)	1.64
AUNTX	0.12	0.01	0.01	0.36	0.10	(0.17)	0.28	(0.28)	1.03

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