Fidelity Global Correlations

FGILX Fund

USD 20.75 0.14 0.67%

The current 90-days correlation between Fidelity Global Equity and Fidelity Emerging Markets is 0.62 (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

Good diversification

The correlation between Fidelity Global Equity and DJI is -0.03 (i.e., Good 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

0.74	FPURX	Fidelity Puritan	Pair Corr
0.74	FPUKX	Fidelity Puritan	Pair Corr
0.85	FQIFX	Fidelity Freedom Index	Pair Corr
0.93	FQIPX	Fidelity Freedom Index	Pair Corr
0.79	FQLSX	Fidelity Flex Freedom	Pair Corr
0.88	FRAGX	Aggressive Growth	Pair Corr
0.9	FRGAX	Growth Allocation Index	Pair Corr
0.93	FRLPX	Fidelity Freedom Index	Pair Corr
0.79	FAASX	Fidelity Asset Manager	Pair Corr
0.93	FAAIX	Fidelity Asset Manager	Pair Corr
0.79	FABLX	Fidelity Advisor Balanced	Pair Corr
0.8	FABCX	Fidelity Advisor Balanced	Pair Corr
0.7	FACNX	Fidelity Canada	Pair Corr

Related Correlations Analysis

	FEDDX	FTIEX	FIVLX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
FEDDX		0.95	0.82	0.0	0.55	0.16	-0.73	0.5	-0.59	-0.36	FEDDX
FTIEX	0.95		0.76	0.0	0.71	0.31	-0.58	0.69	-0.47	-0.25	FTIEX
FIVLX	0.82	0.76		0.0	0.18	-0.15	-0.68	0.32	-0.64	-0.56	FIVLX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.55	0.71	0.18	0.0		0.69	-0.13	0.81	-0.05	0.16	MSTSX
LBHIX	0.16	0.31	-0.15	0.0	0.69		0.16	0.72	0.24	0.09	LBHIX
VIASP	-0.73	-0.58	-0.68	0.0	-0.13	0.16		-0.04	0.78	0.5	VIASP
RRTLX	0.5	0.69	0.32	0.0	0.81	0.72	-0.04		0.02	0.01	RRTLX
OSHDF	-0.59	-0.47	-0.64	0.0	-0.05	0.24	0.78	0.02		0.32	OSHDF
70082LAB3	-0.36	-0.25	-0.56	0.0	0.16	0.09	0.5	0.01	0.32		70082LAB3
	FEDDX	FTIEX	FIVLX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

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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

FTIEX	+ 0.95	FEDDX
FIVLX	+ 0.82	FEDDX
RRTLX	+ 0.81	MSTSX
OSHDF	+ 0.78	VIASP
FIVLX	+ 0.76	FTIEX
RRTLX	+ 0.72	LBHIX

High negative correlations

VIASP	- 0.73	FEDDX
VIASP	- 0.68	FIVLX
OSHDF	- 0.64	FIVLX
OSHDF	- 0.59	FEDDX
VIASP	- 0.58	FTIEX
70082LAB3	- 0.56	FIVLX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FEDDX	0.64	(0.08)	0.00	1.06	0.00	0.00	1.37	(1.48)	4.01
FTIEX	0.68	(0.03)	0.00	0.53	0.00	0.00	1.51	(1.77)	4.35
FIVLX	0.68	(0.06)	0.00	0.70	0.00	0.00	1.30	(1.26)	4.10
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.50	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.02	(0.41)	2.96	0.00	(0.29)	0.24	(0.24)	0.96
VIASP	0.72	0.00	(0.02)	0.00	1.05	(0.80)	2.28	(1.15)	7.18
RRTLX	0.24	0.00	(0.33)	0.37	0.26	(0.27)	0.56	(0.56)	1.37
OSHDF	39.65	22.65	0.00	(0.96)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.99	0.03	(0.04)	1.55	2.18	(1.09)	1.75	(1.69)	24.27

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