Fidelity Emerging Correlations

FDEM Etf

USD 33.23 0.03 0.09%

The current 90-days correlation between Fidelity Emerging Markets and iShares MSCI Malaysia is 0.48 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Emerging Markets moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fidelity Emerging Correlation With Market

Very poor diversification

The correlation between Fidelity Emerging Markets and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fidelity Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Emerging Markets. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Fidelity Etf

0.93	VWO	Vanguard FTSE Emerging	Pair Corr
0.99	IEMG	iShares Core MSCI Aggressive Push	Pair Corr
0.93	EMC	Global X Funds	Pair Corr
0.99	EEM	iShares MSCI Emerging Aggressive Push	Pair Corr
0.98	SPEM	SPDR Portfolio Emerging	Pair Corr
0.94	FNDE	Schwab Fundamental	Pair Corr
1.0	ESGE	iShares ESG Aware	Pair Corr
0.91	SFGRX	Seafarer Overseas	Pair Corr
0.97	DGS	WisdomTree Emerging	Pair Corr
0.95	XSOE	WisdomTree Emerging	Pair Corr
0.78	CPST	Calamos ETF Trust	Pair Corr
0.89	ITDD	iShares Trust	Pair Corr
0.8	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.88	BA	Boeing Earnings Call Today	Pair Corr
0.84	AA	Alcoa Corp Downward Rally	Pair Corr

Moving against Fidelity Etf

0.57	MPAY	Exchange Traded Concepts	Pair Corr
0.46	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.65	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	FCPI	FDEV	UEVM	FIVA	FLRG	FLCH	FTXO	ECON	PAPI	EWM
FCPI		0.61	0.39	0.6	0.89	0.02	0.59	0.45	0.57	0.56	FCPI
FDEV	0.61		0.74	0.99	0.64	-0.02	0.91	0.74	0.94	0.96	FDEV
UEVM	0.39	0.74		0.76	0.36	0.54	0.5	0.93	0.75	0.76	UEVM
FIVA	0.6	0.99	0.76		0.63	-0.01	0.92	0.76	0.93	0.96	FIVA
FLRG	0.89	0.64	0.36	0.63		0.08	0.62	0.5	0.59	0.52	FLRG
FLCH	0.02	-0.02	0.54	-0.01	0.08		-0.25	0.57	-0.01	-0.02	FLCH
FTXO	0.59	0.91	0.5	0.92	0.62	-0.25		0.54	0.8	0.85	FTXO
ECON	0.45	0.74	0.93	0.76	0.5	0.57	0.54		0.71	0.75	ECON
PAPI	0.57	0.94	0.75	0.93	0.59	-0.01	0.8	0.71		0.89	PAPI
EWM	0.56	0.96	0.76	0.96	0.52	-0.02	0.85	0.75	0.89		EWM
	FCPI	FDEV	UEVM	FIVA	FLRG	FLCH	FTXO	ECON	PAPI	EWM

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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

FIVA	+ 0.99	FDEV
EWM	+ 0.96	FDEV
EWM	+ 0.96	FIVA
PAPI	+ 0.94	FDEV
ECON	+ 0.93	UEVM
PAPI	+ 0.93	FIVA

High negative correlations

FTXO	- 0.25	FLCH
EWM	- 0.02	FLCH
FLCH	- 0.02	FDEV
PAPI	- 0.01	FLCH
FLCH	- 0.01	FIVA

Fidelity Emerging Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity Emerging ETF 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 Emerging'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
FCPI	0.55	0.01	(0.06)	0.19	0.74	(0.55)	0.95	(1.25)	3.30
FDEV	0.45	0.10	0.12	0.26	0.33	(0.52)	1.07	(1.04)	2.58
UEVM	0.52	0.09	0.08	0.23	0.46	(0.56)	1.12	(1.00)	2.62
FIVA	0.55	0.16	0.20	0.28	0.31	(0.64)	1.24	(1.04)	2.70
FLRG	0.47	0.00	(0.09)	0.05	0.67	(0.45)	1.01	(1.17)	2.80
FLCH	0.79	(0.04)	(0.07)	0.01	0.84	(0.98)	1.71	(1.52)	5.29
FTXO	0.84	0.08	0.09	0.14	0.89	(0.94)	2.33	(1.54)	5.28
ECON	0.67	0.08	0.07	0.18	0.67	(0.77)	1.41	(1.35)	3.64
PAPI	0.51	0.07	0.03	0.46	0.45	(0.57)	1.33	(1.02)	2.91
EWM	0.59	0.19	0.22	0.42	0.28	(0.69)	1.34	(1.03)	2.41

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