Fidelity Overseas Correlations

Mutual Funds . USA . 
Fund . Fidelity Overseas Fund
FOSKX Fund  USD 67.49  0.59  0.88%   
The current 90-days correlation between Fidelity Overseas and Fidelity Value Fund is 0.39 (i.e., Weak 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

Very weak diversification

The correlation between Fidelity Overseas Fund and DJI is 0.41 (i.e., Very 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 industry.

Moving together with Fidelity Mutual Fund

  0.72FAGIX Fidelity Capital IncomePairCorr
  0.74FSHBX Fidelity Short TermPairCorr
  0.82FSNVX Fidelity Freedom 2040PairCorr
  0.85FSTFX Fidelity Limited TermPairCorr
  0.69FCLKX Fidelity Large CapPairCorr
  0.76FUEMX Fidelity Flex ServativePairCorr
  0.81FFFFX Fidelity Freedom 2040PairCorr
  0.91FGDIX Fidelity Advisor GoldPairCorr
  0.87FGWMX Fidelity New MarketsPairCorr
  0.68FYLSX Fidelity Flex FreedomPairCorr
  0.83FHKAX Fidelity China RegionPairCorr
  0.67FHNFX Fidelity Series GovePairCorr
  0.78FZABX Fidelity Advisor DivPairCorr
  0.87FHRVX Fidelity Managed RetPairCorr
  0.82FHTKX Fidelity Freedom 2040PairCorr
  0.79FIKMX Fidelity Real EstatePairCorr
  0.66FLTMX Fidelity IntermediatePairCorr
  0.9FPIPX Fidelity Freedom IndexPairCorr
  0.89FPIOX Strategic Advisers IncomePairCorr
  0.76RERFX Europacific GrowthPairCorr
  0.76AEPFX Europacific GrowthPairCorr
  0.75CEUAX Europacific GrowthPairCorr
  0.72CEUCX Europacific GrowthPairCorr
  0.74RERCX Europacific GrowthPairCorr

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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