Fidelity Global Correlations

FSGGX Fund

USD 15.21 0.12 0.80%

The current 90-days correlation between Fidelity Global Ex and Vanguard Total International is 0.99 (i.e., No risk reduction). The correlation of Fidelity Global 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 Global Correlation With Market

Weak diversification

The correlation between Fidelity Global Ex and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Global Ex 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 Global Ex. 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 price.

Moving together with Fidelity Mutual Fund

0.79	FPTKX	Fidelity Freedom 2015	Pair Corr
0.61	FQIFX	Fidelity Freedom Index	Pair Corr
0.88	FQITX	Fidelity Salem Street	Pair Corr
0.78	FRAMX	Fidelity Income Repl	Pair Corr
0.79	FRASX	Fidelity Income Repl	Pair Corr
0.78	FRIMX	Fidelity Income Repl	Pair Corr
0.77	FRHMX	Fidelity Managed Ret	Pair Corr
0.78	FRKMX	Fidelity Managed Ret	Pair Corr
0.78	FRQHX	Fidelity Managed Ret	Pair Corr
0.78	FRQIX	Fidelity Income Repl	Pair Corr
0.78	FRQKX	Fidelity Managed Ret	Pair Corr
0.78	FRQAX	Fidelity Income Repl	Pair Corr
0.82	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.57	FRPCX	Fidelity Sai Alternative	Pair Corr
0.55	FAFSX	Fidelity Advisor Fin	Pair Corr
0.55	FAFDX	Fidelity Advisor Fin	Pair Corr
0.55	FAFCX	Fidelity Advisor Fin	Pair Corr
0.42	FACVX	Fidelity Vertible	Pair Corr
0.39	FAGKX	Fidelity Growth Stra	Pair Corr
0.34	FACPX	Fidelity Advisor Sumer	Pair Corr

Related Correlations Analysis

	VGTSX	VTIAX	VTSNX	VTPSX	VTISX	VTMNX	FSPSX
VGTSX		1.0	1.0	1.0	1.0	0.92	0.89	VGTSX
VTIAX	1.0		1.0	1.0	1.0	0.92	0.89	VTIAX
VTSNX	1.0	1.0		1.0	1.0	0.92	0.89	VTSNX
VTPSX	1.0	1.0	1.0		1.0	0.92	0.89	VTPSX
VTISX	1.0	1.0	1.0	1.0		0.91	0.89	VTISX
VTMNX	0.92	0.92	0.92	0.92	0.91		0.99	VTMNX
FSPSX	0.89	0.89	0.89	0.89	0.89	0.99		FSPSX
	VGTSX	VTIAX	VTSNX	VTPSX	VTISX	VTMNX	FSPSX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Global 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 Global'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VGTSX	0.62	(0.09)	(0.08)	1.15	(1.56)	4.09
VTIAX	0.62	(0.09)	(0.08)	1.15	(1.59)	4.11
VTSNX	0.62	(0.09)	(0.08)	1.15	(1.57)	4.08
VTPSX	0.62	(0.09)	(0.08)	1.14	(1.57)	4.08
VTISX	0.62	(0.09)	(0.08)	1.14	(1.57)	4.09
VTMNX	0.64	(0.12)	(0.12)	1.19	(1.55)	3.94
FSPSX	0.66	(0.13)	(0.17)	1.33	(1.64)	4.06

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