Fidelity Overseas Correlations

Mutual Funds . USA . 
Fund . Fidelity Overseas Fund
FOSFX Fund  USD 67.13  0.65  0.98%   
The current 90-days correlation between Fidelity Overseas and Fidelity Equity Income Fund is 0.65 (i.e., Poor diversification). The correlation of Fidelity Overseas 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 Overseas Correlation With Market

Weak diversification

The correlation between Fidelity Overseas Fund and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Overseas Fund 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 Overseas Fund. 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 census.

Moving together with Fidelity Mutual Fund

  0.82FPTKX Fidelity Freedom 2015PairCorr
  0.83FPURX Fidelity PuritanPairCorr
  0.84FPUKX Fidelity PuritanPairCorr
  0.73FQIFX Fidelity Freedom IndexPairCorr
  0.92FQIPX Fidelity Freedom IndexPairCorr
  0.96FQITX Fidelity Salem StreetPairCorr
  0.77FQLSX Fidelity Flex FreedomPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.87FRAMX Fidelity Income ReplPairCorr
  0.88FRASX Fidelity Income ReplPairCorr
  0.91FRGAX Growth Allocation IndexPairCorr
  0.72FRIFX Fidelity Real EstatePairCorr
  0.87FRIMX Fidelity Income ReplPairCorr
  0.69FRINX Fidelity Real EstatePairCorr
  0.68FRIOX Fidelity Real EstatePairCorr
  0.7FRIQX Fidelity Real EstatePairCorr
  0.87FRHMX Fidelity Managed RetPairCorr
  0.87FRKMX Fidelity Managed RetPairCorr
  0.69FRIRX Fidelity Real EstatePairCorr
  0.92FRLPX Fidelity Freedom IndexPairCorr
  0.87FRQHX Fidelity Managed RetPairCorr
  0.86FRQIX Fidelity Income ReplPairCorr
  0.86FRQKX Fidelity Managed RetPairCorr
  0.87FRQAX Fidelity Income ReplPairCorr
  0.67FACPX Fidelity Advisor SumerPairCorr
  0.89FACFX Fidelity Advisor FreedomPairCorr
  0.83FADMX Fidelity Advisor StrPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Overseas 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 Overseas' 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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