Fidelity Emerging Correlations

Mutual Funds . USA . 
Fund . Fidelity Emerging Asia
FSEAX Fund  USD 50.17  0.32  0.64%   
The current 90-days correlation between Fidelity Emerging Asia and Fidelity Latin America is 0.25 (i.e., Modest 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

Good diversification

The correlation between Fidelity Emerging Asia and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Emerging Asia 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 Asia. 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 nation.

Moving together with Fidelity Mutual Fund

  0.78FPURX Fidelity PuritanPairCorr
  0.76FPUKX Fidelity PuritanPairCorr
  0.84FQIPX Fidelity Freedom IndexPairCorr
  0.81FQLSX Fidelity Flex FreedomPairCorr
  0.83FRAGX Aggressive GrowthPairCorr
  0.81FRGAX Growth Allocation IndexPairCorr
  0.84FRLPX Fidelity Freedom IndexPairCorr
  0.75FAASX Fidelity Asset ManagerPairCorr
  0.81FAAIX Fidelity Asset ManagerPairCorr
  0.83FABLX Fidelity Advisor BalancedPairCorr
  0.82FABCX Fidelity Advisor BalancedPairCorr
  0.74FACVX Fidelity ConvertiblePairCorr
  0.61FACPX Fidelity Advisor SumerPairCorr
  0.75FACNX Fidelity CanadaPairCorr
  0.81FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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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   
FPBFX
+ 0.94
FEMKX
FPBFX
+ 0.9
FHKCX
FEMKX
+ 0.88
FHKCX
FICDX
+ 0.75
FHKCX
FPBFX
+ 0.67
FICDX
FICDX
+ 0.66
FEMKX
  
High negative correlations   
FICDX
- 0.44
FLATX
FHKCX
- 0.29
FLATX
FPBFX
- 0.09
FLATX
FEMKX
- 0.05
FLATX

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.

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