Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Small
FICSX Fund  USD 36.38  0.42  1.17%   
The current 90-days correlation between Fidelity International and First Trust Low is 0.08 (i.e., Significant 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

Poor diversification

The correlation between Fidelity International Small and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Small 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 Small. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.75FPTKX Fidelity Freedom 2015PairCorr
  0.94FPURX Fidelity PuritanPairCorr
  0.73FPUKX Fidelity PuritanPairCorr
  0.86FPXTX Fidelity PennsylvaniaPairCorr
  0.96FQIFX Fidelity Freedom IndexPairCorr
  0.75FQIPX Fidelity Freedom IndexPairCorr
  0.96FQITX Fidelity Salem StreetPairCorr
  0.77FQLSX Fidelity Flex FreedomPairCorr
  0.77FRBDX Fidelity Freedom 2070PairCorr
  0.77FRBEX Fidelity Freedom 2070PairCorr
  0.77FRBHX Fidelity Freedom 2070PairCorr
  0.77FRBJX Fidelity Advisor FreedomPairCorr
  0.97FRBKX Fidelity Advisor FreedomPairCorr
  0.77FRBLX Fidelity Advisor FreedomPairCorr
  0.77FRBNX Fidelity Advisor FreedomPairCorr
  0.77FRBOX Fidelity Advisor FreedomPairCorr
  0.77FRBPX Fidelity Advisor FreedomPairCorr
  0.77FRBQX Fidelity Flex FreedomPairCorr
  0.75FRBUX Fidelity Freedom IndexPairCorr
  0.75FRBVX Fidelity Freedom IndexPairCorr
  0.96FRBWX Fidelity Freedom IndexPairCorr
  0.97FRBYX Fidelity Freedom BlendPairCorr
  0.77FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.76FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.96FRCFX Fidelity Freedom BlendPairCorr
  0.77FRCHX Fidelity Freedom BlendPairCorr
  0.76FRCJX Fidelity Freedom BlendPairCorr
  0.77FRCKX Fidelity Freedom BlendPairCorr
  0.77FRCLX Fidelity Freedom BlendPairCorr
  0.77FRCNX Fidelity Freedom BlendPairCorr
  0.77FRCPX Fidelity Freedom BlendPairCorr
  0.77FRCQX Fidelity SustainablePairCorr
  0.77FRCRX Fidelity SustainablePairCorr
  0.77FRCVX Fidelity SustainablePairCorr
  0.77FRCWX Fidelity SustainablePairCorr
  0.77FRCYX Fidelity SustainablePairCorr
  0.77FRDCX Fidelity SustainablePairCorr
  0.77FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FIASX  0.46  0.09  0.08  0.30  0.33 
(0.53)
 1.04 
(0.95)
 2.41 
DFSV  0.86  0.30  0.20 (0.71) 0.54 
(1.04)
 2.65 
(1.31)
 4.82 
FELC  0.54  0.03 (0.07)(0.35) 0.74 
(0.54)
 1.02 
(1.20)
 3.57 
DLN  0.45  0.12  0.05 (0.85) 0.38 
(0.52)
 0.96 
(0.80)
 2.55 
VNYTX  0.09  0.01 (0.34) 0.29  0.00 
(0.14)
 0.28 
(0.09)
 0.92 
ESGE  0.67  0.15  0.06 (0.80) 0.62 
(0.74)
 1.51 
(1.32)
 4.92 
BBAX  0.61  0.14  0.05 (2.62) 0.65 
(0.61)
 1.26 
(1.26)
 4.17 
FEYAX  0.52  0.08 (0.01)(1.07) 0.61 
(0.56)
 1.02 
(1.04)
 2.58 
EWT  0.95  0.19  0.07 (0.66) 1.17 
(0.97)
 1.95 
(2.17)
 4.93 
LMBS  0.08  0.01 (0.70) 0.75  0.00 
(0.10)
 0.16 
(0.12)
 0.44 

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