Fidelity International Correlations

FIVLX Fund

USD 10.55 0.09 0.85%

The current 90-days correlation between Fidelity International and Fidelity International Small is 0.86 (i.e., Very poor 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

Very weak diversification

The correlation between Fidelity International Value and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Value 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 Value. 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

0.72	FPTKX	Fidelity Freedom 2015	Pair Corr
0.81	FRAMX	Fidelity Income Repl	Pair Corr
0.77	FRASX	Fidelity Income Repl	Pair Corr
0.77	FRIMX	Fidelity Income Repl	Pair Corr
0.79	FRQHX	Fidelity Managed Ret	Pair Corr
0.8	FRQIX	Fidelity Income Repl	Pair Corr
0.67	FACTX	Fidelity Advisor Health	Pair Corr
0.81	FACFX	Fidelity Advisor Freedom	Pair Corr
0.67	FACDX	Fidelity Advisor Health	Pair Corr

Moving against Fidelity Mutual Fund

0.7	FAFSX	Fidelity Advisor Fin	Pair Corr
0.7	FAFDX	Fidelity Advisor Fin	Pair Corr
0.64	FACVX	Fidelity Convertible	Pair Corr
0.49	FACPX	Fidelity Advisor Sumer	Pair Corr
0.47	FADTX	Fidelity Advisor Tec	Pair Corr
0.43	FPURX	Fidelity Puritan	Pair Corr
0.43	FPUKX	Fidelity Puritan	Pair Corr
0.34	FADAX	Fidelity Advisor Dividend	Pair Corr
0.33	FAEVX	Fidelity Advisor Equity	Pair Corr
0.31	FAEGX	Fidelity Advisor Equity	Pair Corr
0.7	FAFCX	Fidelity Advisor Fin	Pair Corr
0.69	FSCSX	Software And It	Pair Corr
0.66	FSAWX	Fidelity Sai Convertible	Pair Corr
0.59	FAGKX	Fidelity Growth Stra	Pair Corr
0.5	FSCPX	Consumer Discretionary	Pair Corr
0.49	FALIX	Fidelity Advisor Large	Pair Corr
0.49	FALGX	Fidelity Advisor Large	Pair Corr
0.48	FSAHX	Fidelity Short Duration	Pair Corr
0.47	FAGIX	Fidelity Capital Income	Pair Corr

Related Correlations Analysis

	FSCOX	FTIEX	FIENX	FIREX	FSLVX
FSCOX		0.67	-0.56	0.9	-0.53	FSCOX
FTIEX	0.67		-0.52	0.55	-0.04	FTIEX
FIENX	-0.56	-0.52		-0.57	0.41	FIENX
FIREX	0.9	0.55	-0.57		-0.76	FIREX
FSLVX	-0.53	-0.04	0.41	-0.76		FSLVX
	FSCOX	FTIEX	FIENX	FIREX	FSLVX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FIREX	+ 0.9	FSCOX
FTIEX	+ 0.67	FSCOX
FIREX	+ 0.55	FTIEX
FSLVX	+ 0.41	FIENX

High negative correlations

FSLVX	- 0.76	FIREX
FIREX	- 0.57	FIENX
FIENX	- 0.56	FSCOX
FSLVX	- 0.53	FSCOX
FIENX	- 0.52	FTIEX
FSLVX	- 0.04	FTIEX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FSCOX	0.57	(0.10)	0.00	(0.11)	0.00	0.00	1.24	(1.13)	3.54
FTIEX	0.65	(0.10)	0.00	(0.08)	0.00	0.00	1.48	(1.77)	4.35
FIENX	0.60	0.03	(0.12)	(4.19)	0.75	(0.64)	1.16	(1.22)	3.31
FIREX	0.52	(0.16)	0.00	(0.79)	0.00	0.00	0.89	(1.15)	3.58
FSLVX	0.51	0.02	(0.01)	0.15	0.29	(0.66)	1.12	(0.87)	3.45

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC