Fidelity International Correlations

FDEV Etf

USD 28.02 0.18 0.64%

The current 90-days correlation between Fidelity International and Fidelity Emerging Markets is 0.69 (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

Very weak diversification

The correlation between Fidelity International Multifa 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 Multifa 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 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 income.

Moving together with Fidelity Etf

0.97	VEA	Vanguard FTSE Developed	Pair Corr
0.98	IEFA	iShares Core MSCI	Pair Corr
0.81	VEU	Vanguard FTSE All	Pair Corr
0.98	EFA	iShares MSCI EAFE	Pair Corr
0.82	IXUS	iShares Core MSCI	Pair Corr
0.97	SPDW	SPDR SP World	Pair Corr
0.97	IDEV	iShares Core MSCI	Pair Corr
0.98	ESGD	iShares ESG Aware	Pair Corr
0.98	JIRE	JP Morgan Exchange	Pair Corr
0.81	DFAX	Dimensional World	Pair Corr
0.92	KO	Coca Cola Aggressive Push	Pair Corr
0.71	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.89	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.67	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against Fidelity Etf

0.85	YCS	ProShares UltraShort Yen	Pair Corr
0.82	TBT	ProShares UltraShort	Pair Corr
0.76	ATMP	Barclays ETN Select	Pair Corr
0.72	SGG	Barclays Capital	Pair Corr
0.55	DIG	ProShares Ultra Oil	Pair Corr
0.55	AMZA	InfraCap MLP ETF	Pair Corr
0.45	MLPR	ETRACS Quarterly Pay	Pair Corr
0.45	USD	ProShares Ultra Semi	Pair Corr
0.81	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.74	WMT	Walmart Aggressive Push	Pair Corr
0.73	DIS	Walt Disney Aggressive Push	Pair Corr
0.72	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.71	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.46	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.34	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	FDEM	FSMD	FIVA	FIDI	FDMO
FDEM		0.11	0.62	0.6	0.2	FDEM
FSMD	0.11		-0.46	-0.54	0.95	FSMD
FIVA	0.62	-0.46		0.95	-0.48	FIVA
FIDI	0.6	-0.54	0.95		-0.55	FIDI
FDMO	0.2	0.95	-0.48	-0.55		FDMO
	FDEM	FSMD	FIVA	FIDI	FDMO

Click cells to compare fundamentals

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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

FDMO	+ 0.95	FSMD
FIDI	+ 0.95	FIVA
FIVA	+ 0.62	FDEM
FIDI	+ 0.6	FDEM
FDMO	+ 0.2	FDEM
FSMD	+ 0.11	FDEM

High negative correlations

FDMO	- 0.55	FIDI
FIDI	- 0.54	FSMD
FDMO	- 0.48	FIVA
FIVA	- 0.46	FSMD

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	0.71	(0.05)	0.00	(0.10)	0.00	0.00	1.56	(1.51)	5.62
FSMD	0.72	0.00	0.03	0.12	0.66	(0.81)	1.75	(1.28)	6.02
FIVA	0.64	(0.14)	0.00	(0.19)	0.00	0.00	0.95	(1.86)	4.04
FIDI	0.60	(0.11)	0.00	(0.25)	0.00	0.00	1.14	(1.59)	3.23
FDMO	0.73	0.03	0.02	0.15	0.88	(0.77)	1.78	(1.46)	4.61

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