Fidelity Overseas Correlations

FOSFX Fund

USD 64.91 0.28 0.43%

The current 90-days correlation between Fidelity Overseas and Europacific Growth Fund is 0.93 (i.e., Almost no 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

Significant diversification

The correlation between Fidelity Overseas Fund and DJI is 0.02 (i.e., Significant 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

0.64	FPTKX	Fidelity Freedom 2015	Pair Corr
0.97	FQITX	Fidelity Salem Street	Pair Corr
0.77	FRAMX	Fidelity Income Repl	Pair Corr
0.71	FRASX	Fidelity Income Repl	Pair Corr
0.83	FRIMX	Fidelity Income Repl	Pair Corr
0.75	FRHMX	Fidelity Managed Ret	Pair Corr
0.76	FRKMX	Fidelity Managed Ret	Pair Corr
0.75	FRQHX	Fidelity Managed Ret	Pair Corr
0.75	FRQIX	Fidelity Income Repl	Pair Corr
0.75	FRQKX	Fidelity Managed Ret	Pair Corr
0.77	FRQAX	Fidelity Income Repl	Pair Corr
0.69	FACTX	Fidelity Advisor Health	Pair Corr
0.75	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.39	FPURX	Fidelity Puritan	Pair Corr
0.39	FPUKX	Fidelity Puritan	Pair Corr
0.72	FRPCX	Fidelity Sai Alternative	Pair Corr
0.72	FAFSX	Fidelity Advisor Fin	Pair Corr
0.63	FACVX	Fidelity Convertible	Pair Corr
0.53	FACPX	Fidelity Advisor Sumer	Pair Corr
0.52	FADTX	Fidelity Advisor Tec	Pair Corr
0.5	FACGX	Fidelity Advisor Growth	Pair Corr
0.4	FADAX	Fidelity Advisor Dividend	Pair Corr

Related Correlations Analysis

	RERFX	AEPFX	CEUCX	RERGX	CEUFX
RERFX		0.89	0.89	0.89	0.89	RERFX
AEPFX	0.89		1.0	1.0	1.0	AEPFX
CEUCX	0.89	1.0		1.0	1.0	CEUCX
RERGX	0.89	1.0	1.0		1.0	RERGX
CEUFX	0.89	1.0	1.0	1.0		CEUFX
	RERFX	AEPFX	CEUCX	RERGX	CEUFX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
RERFX	0.60	(0.05)	9.73	1.12	(1.47)	4.01
AEPFX	0.61	(0.12)	(0.11)	1.10	(1.47)	4.00
CEUCX	0.60	(0.12)	(0.11)	1.11	(1.48)	4.03
RERGX	0.61	(0.12)	(0.11)	1.11	(1.48)	4.02
CEUFX	0.61	(0.12)	(0.11)	1.12	(1.48)	4.05

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