Fidelity Emerging Correlations

FKEMX Fund

USD 38.63 0.34 0.89%

The current 90-days correlation between Fidelity Emerging Markets and Qs Large Cap is 0.42 (i.e., Very weak diversification). The correlation of Fidelity Emerging 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 Emerging Correlation With Market

Average diversification

The correlation between Fidelity Emerging Markets and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Emerging Markets 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 Emerging Markets. 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 population.

Moving together with Fidelity Mutual Fund

0.61	FPTKX	Fidelity Freedom 2015	Pair Corr
0.91	FQITX	Fidelity Salem Street	Pair Corr
0.67	FRAMX	Fidelity Income Repl	Pair Corr
0.64	FRASX	Fidelity Income Repl	Pair Corr
0.63	FRIFX	Fidelity Real Estate	Pair Corr
0.66	FRIMX	Fidelity Income Repl	Pair Corr
0.64	FRINX	Fidelity Real Estate	Pair Corr
0.66	FRIOX	Fidelity Real Estate	Pair Corr
0.63	FRIQX	Fidelity Real Estate	Pair Corr
0.65	FRHMX	Fidelity Managed Ret	Pair Corr
0.66	FRKMX	Fidelity Managed Ret	Pair Corr
0.63	FRIRX	Fidelity Real Estate	Pair Corr
0.65	FRQHX	Fidelity Managed Ret	Pair Corr
0.66	FRQIX	Fidelity Income Repl	Pair Corr
0.65	FRQKX	Fidelity Managed Ret	Pair Corr
0.67	FRQAX	Fidelity Income Repl	Pair Corr
0.7	FACTX	Fidelity Advisor Health	Pair Corr
0.68	FACFX	Fidelity Advisor Freedom	Pair Corr
0.71	FACDX	Fidelity Advisor Health	Pair Corr

Moving against Fidelity Mutual Fund

0.88	FRPCX	Fidelity Sai Alternative	Pair Corr
0.68	FACGX	Fidelity Advisor Growth	Pair Corr
0.68	FAGOX	Fidelity Advisor Growth	Pair Corr
0.59	FACPX	Fidelity Advisor Sumer	Pair Corr
0.47	FAFSX	Fidelity Advisor Fin	Pair Corr
0.47	FAFCX	Fidelity Advisor Fin	Pair Corr
0.46	FAFDX	Fidelity Advisor Fin	Pair Corr
0.4	FADTX	Fidelity Advisor Tec	Pair Corr
0.4	FAGIX	Fidelity Capital Income	Pair Corr
0.39	FACVX	Fidelity Convertible	Pair Corr
0.39	FAGKX	Fidelity Growth Stra	Pair Corr
0.36	FABCX	Fidelity Advisor Balanced	Pair Corr

Related Correlations Analysis

	LMUSX	LAVVX	OTPSX	LIOTX	PRDEX	PBXIX
LMUSX		0.93	0.72	0.91	0.0	0.92	LMUSX
LAVVX	0.93		0.53	0.86	0.0	0.97	LAVVX
OTPSX	0.72	0.53		0.69	0.0	0.47	OTPSX
LIOTX	0.91	0.86	0.69		0.0	0.9	LIOTX
PRDEX	0.0	0.0	0.0	0.0		0.0	PRDEX
PBXIX	0.92	0.97	0.47	0.9	0.0		PBXIX
	LMUSX	LAVVX	OTPSX	LIOTX	PRDEX	PBXIX

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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

PBXIX	+ 0.97	LAVVX
LAVVX	+ 0.93	LMUSX
PBXIX	+ 0.92	LMUSX
LIOTX	+ 0.91	LMUSX
PBXIX	+ 0.9	LIOTX
LIOTX	+ 0.86	LAVVX

High negative correlations

PBXIX	- 0.0	PRDEX
PRDEX	- 0.0	LIOTX
PRDEX	- 0.0	OTPSX
PRDEX	- 0.0	LAVVX
PRDEX	- 0.0	LMUSX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Emerging 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 Emerging'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
LMUSX	0.67	0.04	0.02	0.10	1.09	(0.67)	1.23	(1.49)	6.37
LAVVX	0.52	0.02	0.01	0.11	0.60	(0.65)	1.18	(0.78)	5.94
OTPSX	0.81	0.10	0.07	0.79	1.02	(0.89)	1.85	(1.57)	6.34
LIOTX	0.80	0.08	0.05	0.23	1.13	(0.85)	1.46	(1.71)	6.56
PRDEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PBXIX	0.37	(0.01)	(0.03)	(0.03)	0.51	(0.42)	0.87	(0.70)	3.26

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