Fidelity Global Correlations

Mutual Funds . USA . 
Fund . Fidelity Global Modity
FFGCX Fund  USD 19.33  0.12  0.62%   
The current 90-days correlation between Fidelity Global Modity and Materials Portfolio Materials is 0.9 (i.e., Almost no diversification). 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

Poor diversification

The correlation between Fidelity Global Modity and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Global Modity 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 Modity. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.88FPTKX Fidelity Freedom 2015PairCorr
  0.89FPURX Fidelity PuritanPairCorr
  0.89FPUKX Fidelity PuritanPairCorr
  0.89FQIFX Fidelity Freedom IndexPairCorr
  0.88FQIPX Fidelity Freedom IndexPairCorr
  0.75FQITX Fidelity Salem StreetPairCorr
  0.89FQLSX Fidelity Flex FreedomPairCorr
  0.83FRBDX Fidelity Freedom 2070PairCorr
  0.83FRBEX Fidelity Freedom 2070PairCorr
  0.83FRBHX Fidelity Freedom 2070PairCorr
  0.83FRBJX Fidelity Advisor FreedomPairCorr
  0.83FRBKX Fidelity Advisor FreedomPairCorr
  0.83FRBLX Fidelity Advisor FreedomPairCorr
  0.83FRBOX Fidelity Advisor FreedomPairCorr
  0.83FRBPX Fidelity Advisor FreedomPairCorr
  0.84FRBQX Fidelity Flex FreedomPairCorr
  0.83FRBUX Fidelity Freedom IndexPairCorr
  0.83FRBVX Fidelity Freedom IndexPairCorr
  0.83FRBWX Fidelity Freedom IndexPairCorr
  0.84FRBYX Fidelity Freedom BlendPairCorr
  0.83FRBZX Fidelity Freedom BlendPairCorr
  0.88FRAGX Aggressive GrowthPairCorr
  0.86FRAMX Fidelity Income ReplPairCorr
  0.88FRASX Fidelity Income ReplPairCorr
  0.83FRCFX Fidelity Freedom BlendPairCorr
  0.83FRCHX Fidelity Freedom BlendPairCorr
  0.89FRCKX Fidelity Freedom BlendPairCorr
  0.83FRCLX Fidelity Freedom BlendPairCorr
  0.83FRCNX Fidelity Freedom BlendPairCorr
  0.84FRCPX Fidelity Freedom BlendPairCorr
  0.83FRCQX Fidelity SustainablePairCorr
  0.83FRCRX Fidelity SustainablePairCorr
  0.83FRCVX Fidelity SustainablePairCorr
  0.83FRCWX Fidelity SustainablePairCorr
  0.83FRCYX Fidelity SustainablePairCorr
  0.83FRDCX Fidelity SustainablePairCorr
  0.83FRDDX Fidelity SustainablePairCorr
  0.83FRDEX Fidelity SustainablePairCorr
  0.88FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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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.

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