Fidelity International Correlations

FDEV Etf

USD 36.50 0.34 0.94%

The current 90-days correlation between Fidelity International and SEI DBi Multi Strategy is 0.66 (i.e., Poor 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

Almost no diversification

The correlation between Fidelity International Multifa and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Multifa 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 International Multifactor. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Fidelity Etf

0.98	VEA	Vanguard FTSE Developed	Pair Corr
0.97	IEFA	iShares Core MSCI	Pair Corr
0.96	VEU	Vanguard FTSE All	Pair Corr
0.97	EFA	iShares MSCI EAFE	Pair Corr
0.95	IXUS	iShares Core MSCI	Pair Corr
0.97	SPDW	SPDR SP World	Pair Corr
0.98	IDEV	iShares Core MSCI	Pair Corr
0.96	ESGD	iShares ESG Aware	Pair Corr
0.98	JIRE	JP Morgan Exchange	Pair Corr
0.97	DFAX	Dimensional World	Pair Corr
0.89	MUU	Direxion Daily MU	Pair Corr
0.89	MULL	GraniteShares 2x Long	Pair Corr
0.87	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.94	JNUG	Direxion Daily Junior	Pair Corr
0.91	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.83	KORU	Direxion Daily South	Pair Corr
0.94	NUGT	Direxion Daily Gold	Pair Corr
0.88	SHNY	Microsectors Gold Upward Rally	Pair Corr
0.96	SIL	Global X Silver	Pair Corr
0.93	SIVR	abrdn Physical Silver	Pair Corr
0.89	RDIV	Invesco SP Ultra	Pair Corr
0.86	VBK	Vanguard Small Cap	Pair Corr
0.97	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.95	AHYB	American Century ETF	Pair Corr
0.86	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.86	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.69	INTC	Intel Aggressive Push	Pair Corr
0.68	PFE	Pfizer Inc	Pair Corr
0.87	JNJ	Johnson Johnson	Pair Corr
0.89	BA	Boeing	Pair Corr

Moving against Fidelity Etf

0.73	MSFT	Microsoft	Pair Corr
0.5	MMM	3M Company	Pair Corr

Related Correlations Analysis

	FDEM	FIDI	SMLV	HEEM	EPU	FNK	GHYG	AVXC	SIXL	QALT
FDEM		0.86	0.76	0.98	0.93	0.79	0.79	0.99	0.72	0.97	FDEM
FIDI	0.86		0.94	0.92	0.96	0.95	0.96	0.91	0.86	0.93	FIDI
SMLV	0.76	0.94		0.85	0.91	0.98	0.93	0.83	0.86	0.86	SMLV
HEEM	0.98	0.92	0.85		0.97	0.87	0.88	0.99	0.77	0.98	HEEM
EPU	0.93	0.96	0.91	0.97		0.92	0.93	0.97	0.86	0.97	EPU
FNK	0.79	0.95	0.98	0.87	0.92		0.96	0.85	0.85	0.89	FNK
GHYG	0.79	0.96	0.93	0.88	0.93	0.96		0.86	0.84	0.89	GHYG
AVXC	0.99	0.91	0.83	0.99	0.97	0.85	0.86		0.78	0.98	AVXC
SIXL	0.72	0.86	0.86	0.77	0.86	0.85	0.84	0.78		0.82	SIXL
QALT	0.97	0.93	0.86	0.98	0.97	0.89	0.89	0.98	0.82		QALT
	FDEM	FIDI	SMLV	HEEM	EPU	FNK	GHYG	AVXC	SIXL	QALT

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Fidelity International Constituents Risk-Adjusted Indicators

There is a big difference between Fidelity Etf performing well and Fidelity International 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 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
FDEM	0.62	0.10	0.11	0.25	0.55	(0.68)	1.50	(1.11)	4.25
FIDI	0.53	0.15	0.19	0.30	0.38	(0.59)	1.23	(0.99)	2.88
SMLV	0.66	0.13	0.18	0.18	0.45	(0.80)	2.08	(1.10)	4.56
HEEM	0.67	0.12	0.14	0.25	0.51	(0.84)	1.76	(1.07)	4.35
EPU	1.29	0.53	0.25	0.55	1.47	(1.46)	2.60	(2.85)	9.47
FNK	0.70	0.11	0.15	0.16	0.53	(0.90)	2.17	(1.11)	4.13
GHYG	0.16	0.02	(0.09)	0.16	0.03	(0.18)	0.40	(0.31)	1.27
AVXC	0.67	0.15	0.15	0.30	0.61	(0.72)	1.40	(1.22)	3.74
SIXL	0.46	0.05	0.02	0.37	0.54	(0.53)	1.10	(0.76)	3.41
QALT	0.31	0.04	0.02	0.15	0.23	(0.37)	0.82	(0.63)	2.15

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