Fidelity Emerging Correlations

FSEAX Fund

USD 63.50 0.43 0.68%

The current 90-days correlation between Fidelity Emerging Asia and Dana Large Cap is 0.65 (i.e., Poor 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

Very weak diversification

The correlation between Fidelity Emerging Asia and DJI is 0.48 (i.e., Very weak 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

0.98	MAPTX	Matthews Pacific Tiger	Pair Corr
0.98	MIPTX	Matthews Pacific Tiger	Pair Corr
0.98	PNSIX	T Rowe Price	Pair Corr
0.99	PRASX	T Rowe Price	Pair Corr
0.99	TRZNX	T Rowe Price	Pair Corr
0.94	ASIYX	Invesco Asia Pacific	Pair Corr
0.94	ASISX	Invesco Asia Pacific	Pair Corr
0.81	SMPSX	Semiconductor Ultrasector	Pair Corr
0.87	SMPIX	Semiconductor Ultrasector	Pair Corr
0.77	RSNRX	Victory Global Natural	Pair Corr
0.77	RSNYX	Victory Global Natural	Pair Corr
0.77	RGNCX	Victory Global Natural	Pair Corr
0.94	OTPIX	Nasdaq 100 Profund	Pair Corr
0.77	CRBRX	Columbia Acorn Steady Growth	Pair Corr
0.63	FEGOX	First Eagle Gold	Pair Corr
0.77	TEDLX	Tiaa Cref Emerging	Pair Corr
0.95	FFOLX	Fidelity Freedom Index	Pair Corr
0.72	FGIAX	Nuveen Global Infras	Pair Corr
0.77	VNDFX	Viking Tax Free	Pair Corr
0.92	OWLSX	Old Westbury Large	Pair Corr
0.67	PBSMX	Prudential Short Term	Pair Corr
0.83	FAPHX	Fidelity Summer Street	Pair Corr
0.96	ESCGX	Ashmore Emerging Markets	Pair Corr
0.97	GEGAX	Aberdeen Emerging Markets	Pair Corr
0.82	APDMX	Artisan Mid Cap	Pair Corr
0.9	SMGIX	Columbia Trarian Core	Pair Corr
0.75	PFANX	Pimco Capital Sec	Pair Corr
0.83	FKTJX	Franklin New York	Pair Corr
0.75	FIWGX	Strategic Advisers	Pair Corr
0.67	BGEIX	Global Gold Fund	Pair Corr

Moving against FIDELITY Mutual Fund

0.54	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.54	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.53	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.55	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.53	SPMJX	Invesco Steelpath Mlp	Pair Corr

Related Correlations Analysis

	DLCIX	WILCX	DLQIX	TRLGX	LMISX	LMUSX	FCLKX	MTCGX
DLCIX		0.88	0.95	0.92	0.95	0.95	0.96	0.86	DLCIX
WILCX	0.88		0.77	0.73	0.87	0.86	0.87	0.7	WILCX
DLQIX	0.95	0.77		0.96	0.93	0.93	0.94	0.91	DLQIX
TRLGX	0.92	0.73	0.96		0.93	0.93	0.96	0.97	TRLGX
LMISX	0.95	0.87	0.93	0.93		1.0	0.95	0.93	LMISX
LMUSX	0.95	0.86	0.93	0.93	1.0		0.95	0.93	LMUSX
FCLKX	0.96	0.87	0.94	0.96	0.95	0.95		0.92	FCLKX
MTCGX	0.86	0.7	0.91	0.97	0.93	0.93	0.92		MTCGX
	DLCIX	WILCX	DLQIX	TRLGX	LMISX	LMUSX	FCLKX	MTCGX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DLCIX	0.57	0.05	0.05	0.07	0.80	(0.56)	1.26	(1.18)	3.59
WILCX	0.39	0.01	0.01	0.04	0.39	(0.46)	0.74	(0.73)	2.22
DLQIX	0.58	0.01	0.02	0.03	0.84	(0.56)	1.14	(1.22)	3.70
TRLGX	0.73	0.03	0.03	0.05	1.06	(0.72)	1.61	(1.69)	4.58
LMISX	0.56	0.05	0.05	0.07	0.77	(0.51)	1.26	(1.35)	3.60
LMUSX	0.55	0.05	0.05	0.07	0.77	(0.51)	1.25	(1.38)	3.59
FCLKX	0.55	0.03	0.03	0.05	0.86	(0.50)	1.14	(1.34)	3.46
MTCGX	0.76	0.02	0.02	0.04	1.14	(0.70)	1.72	(1.86)	4.26

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