Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Small
FICSX Fund  USD 34.62  0.07  0.20%   
The current 90-days correlation between Fidelity International and Fidelity International Small is 0.99 (i.e., No risk reduction). 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 0.61 (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 real.

Moving together with Fidelity Mutual Fund

  0.84FRBDX Fidelity Freedom 2070PairCorr
  0.63FRBEX Fidelity Freedom 2070PairCorr
  0.63FRBHX Fidelity Freedom 2070PairCorr
  0.83FRBJX Fidelity Advisor FreedomPairCorr
  0.83FRBKX Fidelity Advisor FreedomPairCorr
  0.64FRBLX Fidelity Advisor FreedomPairCorr
  0.84FRBNX Fidelity Advisor FreedomPairCorr
  0.62FRBOX Fidelity Advisor FreedomPairCorr
  0.82FRBPX Fidelity Advisor FreedomPairCorr
  0.81FRBQX Fidelity Flex FreedomPairCorr
  0.78FRBUX Fidelity Freedom IndexPairCorr
  0.83FRBYX Fidelity Freedom BlendPairCorr
  0.62FRCFX Fidelity Freedom BlendPairCorr
  0.83FRCHX Fidelity Freedom BlendPairCorr
  0.83FRCKX Fidelity Freedom BlendPairCorr
  0.86FRCLX Fidelity Freedom BlendPairCorr
  0.64FRCNX Fidelity Freedom BlendPairCorr
  0.82FRCPX Fidelity Freedom BlendPairCorr
  0.81FRCQX Fidelity SustainablePairCorr
  0.61FRCYX Fidelity SustainablePairCorr
  0.62FRDCX Fidelity SustainablePairCorr
  0.82FRDDX Fidelity SustainablePairCorr
  0.71FRGAX Growth Allocation IndexPairCorr

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  0.45  0.00 (0.06) 0.07  0.60 
(0.46)
 0.89 
(0.95)
 2.19 
DFSV  0.82  0.09  0.01 (4.54) 1.06 
(0.88)
 2.04 
(1.31)
 4.66 
FELC  0.61  0.04 (0.03) 0.49  0.88 
(0.58)
 1.25 
(1.21)
 3.21 
DLN  0.45 (0.01)(0.07) 0.05  0.45 
(0.55)
 0.85 
(0.83)
 1.90 
VNYTX  0.09  0.01 (0.38)(0.58) 0.00 
(0.14)
 0.19 
(0.18)
 0.74 
ESGE  0.73  0.07  0.02  0.37  0.91 
(0.76)
 1.70 
(1.32)
 4.79 
BBAX  0.59 (0.03)(0.05) 0.04  0.83 
(0.55)
 1.13 
(1.26)
 3.00 
FEYAX  0.64 (0.10) 0.00 (0.04) 0.00 
 0.00 
 1.03 
(1.39)
 6.70 
EWT  1.04  0.11  0.01 (0.26) 1.53 
(0.95)
 1.85 
(2.19)
 7.85 
LMBS  0.08  0.00 (0.63) 0.00  0.00 
(0.10)
 0.18 
(0.12)
 0.48 

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