Fidelity Global Correlations

Mutual Funds . USA . 
Fund . Fidelity Global Modity
FFGCX Fund  USD 26.48  0.64  2.36%   
The current 90-days correlation between Fidelity Global Modity and Hartford Schroders Smallmid is 0.33 (i.e., Weak diversification). The correlation of Fidelity Global 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 Global Correlation With Market

Very poor diversification

The correlation between Fidelity Global Modity and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Global Modity 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 Global Modity. 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 services.

Moving together with Fidelity Mutual Fund

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.89FPURX Fidelity PuritanPairCorr
  0.89FPUKX Fidelity PuritanPairCorr
  0.9FPXTX Fidelity PennsylvaniaPairCorr
  0.92FQIFX Fidelity Freedom IndexPairCorr
  0.92FQIPX Fidelity Freedom IndexPairCorr
  0.93FQITX Fidelity Salem StreetPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.95FRBDX Fidelity Freedom 2070PairCorr
  0.95FRBEX Fidelity Freedom 2070PairCorr
  0.95FRBHX Fidelity Freedom 2070PairCorr
  0.94FRBJX Fidelity Advisor FreedomPairCorr
  0.94FRBKX Fidelity Advisor FreedomPairCorr
  0.94FRBLX Fidelity Advisor FreedomPairCorr
  0.94FRBNX Fidelity Advisor FreedomPairCorr
  0.94FRBOX Fidelity Advisor FreedomPairCorr
  0.94FRBPX Fidelity Advisor FreedomPairCorr
  0.94FRBQX Fidelity Flex FreedomPairCorr
  0.92FRBUX Fidelity Freedom IndexPairCorr
  0.92FRBVX Fidelity Freedom IndexPairCorr
  0.92FRBWX Fidelity Freedom IndexPairCorr
  0.94FRBYX Fidelity Freedom BlendPairCorr
  0.94FRBZX Fidelity Freedom BlendPairCorr
  0.9FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  0.94FRCFX Fidelity Freedom BlendPairCorr
  0.94FRCHX Fidelity Freedom BlendPairCorr
  0.94FRCJX Fidelity Freedom BlendPairCorr
  0.94FRCKX Fidelity Freedom BlendPairCorr
  0.94FRCLX Fidelity Freedom BlendPairCorr
  0.94FRCNX Fidelity Freedom BlendPairCorr
  0.94FRCPX Fidelity Freedom BlendPairCorr
  0.92FRCQX Fidelity SustainablePairCorr
  0.92FRCRX Fidelity SustainablePairCorr
  0.92FRCVX Fidelity SustainablePairCorr
  0.91FRCWX Fidelity SustainablePairCorr
  0.91FRCYX Fidelity SustainablePairCorr
  0.92FRDCX Fidelity SustainablePairCorr
  0.92FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Global 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 Global'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FIEUX  0.71  0.08  0.07  0.19  0.73 
(0.82)
 1.66 
(1.28)
 3.58 
FJPNX  0.89  0.25  0.20  0.38  0.76 
(0.98)
 2.08 
(1.76)
 6.55 
FANIX  0.62  0.05 (0.01) 0.53  0.78 
(0.83)
 1.57 
(1.32)
 4.66 
FPBFX  0.89  0.18  0.14  0.29  0.91 
(0.97)
 1.87 
(1.77)
 4.79 
BUFIX  0.69  0.04  0.03  0.12  0.79 
(0.69)
 1.44 
(1.35)
 3.71 
VRMGX  2.35  0.99  0.67 (5.46) 0.44 
(3.25)
 1.96 
(2.38)
 75.37 
USAGX  2.04  0.41  0.11  0.37  3.02 
(2.13)
 5.18 
(4.94)
 18.59 
ETW  0.52  0.05  0.03  0.16  0.49 
(0.60)
 1.38 
(0.86)
 2.93 
FICDX  0.73  0.18  0.13  0.36  0.87 
(0.79)
 1.47 
(1.71)
 8.65 
SMDIX  0.82  0.18  0.22  0.22  0.49 
(0.97)
 1.89 
(1.41)
 12.60 

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