Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Discovery
FIADX Fund  USD 49.82  0.25  0.50%   
The current 90-days correlation between Fidelity International and Riverparknext Century Growth is 0.5 (i.e., Very weak 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

Weak diversification

The correlation between Fidelity International Discove and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Discove 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 Discovery. 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 unemployment.

Moving together with FIDELITY Mutual Fund

  0.94FSPSX Fidelity InternationalPairCorr
  0.61FCLCX Fidelity Advisor IndPairCorr
  0.8FXNAX Fidelity Bond IndexPairCorr
  0.61FGWMX Fidelity New MarketsPairCorr
  0.61FGVMX Fidelity New MarketsPairCorr
  0.82FHNFX Fidelity Series GovePairCorr
  0.85FZABX Fidelity Advisor DivPairCorr
  0.9FHRVX Fidelity Managed RetPairCorr
  0.86FHZDX Fidelity Freedom BlendPairCorr
  0.86RERFX Europacific GrowthPairCorr
  0.86AEPFX Europacific GrowthPairCorr
  0.86CEUAX Europacific GrowthPairCorr
  0.85CEUCX Europacific GrowthPairCorr
  0.86RERCX Europacific GrowthPairCorr
  0.86REREX Europacific GrowthPairCorr
  0.87RERGX Europacific GrowthPairCorr
  0.86CEUFX Europacific GrowthPairCorr
  0.86CEUEX Europacific GrowthPairCorr
  0.85RERAX Europacific GrowthPairCorr
  0.79LIIAX Columbia Porate IncomePairCorr
  0.79SRINX Columbia Porate IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between FIDELITY Mutual Fund performing well and Fidelity International 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 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.

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