Fidelity Global Correlations

Mutual Funds . USA . 
Fund . Fidelity Global Equity
FGILX Fund  USD 20.94  0.14  0.66%   
The current 90-days correlation between Fidelity Global Equity and Fidelity Emerging Markets is 0.64 (i.e., Poor 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 weak diversification

The correlation between Fidelity Global Equity and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Global Equity 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 Equity. 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  0.93FPTKX Fidelity Freedom 2015PairCorr
  0.86FPURX Fidelity PuritanPairCorr
  0.85FPUKX Fidelity PuritanPairCorr
  0.92FQIFX Fidelity Freedom IndexPairCorr
  0.94FQIPX Fidelity Freedom IndexPairCorr
  0.65FQITX Fidelity Salem StreetPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.9FRAGX Aggressive GrowthPairCorr
  0.92FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.91FRGAX Growth Allocation IndexPairCorr
  0.64FRESX Fidelity Real EstatePairCorr
  0.84FRIFX Fidelity Real EstatePairCorr
  0.92FRIMX Fidelity Income ReplPairCorr
  0.84FRINX Fidelity Real EstatePairCorr
  0.81FRIOX Fidelity Real EstatePairCorr
  0.83FRIQX Fidelity Real EstatePairCorr
  0.92FRHMX Fidelity Managed RetPairCorr
  0.83FRKMX Fidelity Managed RetPairCorr
  0.83FRIRX Fidelity Real EstatePairCorr
  0.93FRLPX Fidelity Freedom IndexPairCorr
  0.92FRQHX Fidelity Managed RetPairCorr
  0.83FRQIX Fidelity Income ReplPairCorr
  0.92FRQKX Fidelity Managed RetPairCorr
  0.92FRQAX Fidelity Income ReplPairCorr
  0.8FAASX Fidelity Asset ManagerPairCorr
  0.8FAAIX Fidelity Asset ManagerPairCorr
  0.74FACVX Fidelity ConvertiblePairCorr
  0.65FACNX Fidelity CanadaPairCorr
  0.93FACFX Fidelity Advisor FreedomPairCorr
  0.75FADMX Fidelity Advisor StrPairCorr

Related Correlations Analysis

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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   
FIVLX
+ 0.98
FTIEX
FTIEX
+ 0.67
FEDDX
FIVLX
+ 0.62
FEDDX
FTEMX
+ 0.51
FEDDX
FIVLX
+ 0.26
FTEMX
FTEMX
+ 0.24
FTIEX
  
High negative correlations   
FIENX
- 0.31
FEDDX
FIENX
- 0.06
FIVLX
FIENX
- 0.04
FTIEX

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.

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