Fidelity International Correlations

FSPSX Fund

USD 51.00 0.51 1.01%

The current 90-days correlation between Fidelity International and Fidelity Emerging Markets is 0.14 (i.e., Average diversification). The correlation of Fidelity International 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 International Correlation With Market

Good diversification

The correlation between Fidelity International Index and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Index 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 International Index. 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 state.

Moving together with Fidelity Mutual Fund

0.71	FPTKX	Fidelity Freedom 2015	Pair Corr
0.75	FQITX	Fidelity Salem Street	Pair Corr
0.87	FRAMX	Fidelity Income Repl	Pair Corr
0.8	FRASX	Fidelity Income Repl	Pair Corr
0.79	FRESX	Fidelity Real Estate	Pair Corr
0.88	FRIFX	Fidelity Real Estate	Pair Corr
0.87	FRIMX	Fidelity Income Repl	Pair Corr
0.84	FRINX	Fidelity Real Estate	Pair Corr
0.83	FRIOX	Fidelity Real Estate	Pair Corr
0.84	FRIQX	Fidelity Real Estate	Pair Corr
0.91	FRHMX	Fidelity Managed Ret	Pair Corr

Related Correlations Analysis

	FPADX	FSSNX	FXNAX	FSMDX	FSMAX
FPADX		0.3	0.26	0.4	0.29	FPADX
FSSNX	0.3		-0.6	0.96	0.97	FSSNX
FXNAX	0.26	-0.6		-0.59	-0.65	FXNAX
FSMDX	0.4	0.96	-0.59		0.99	FSMDX
FSMAX	0.29	0.97	-0.65	0.99		FSMAX
	FPADX	FSSNX	FXNAX	FSMDX	FSMAX

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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

FSMAX	+ 0.99	FSMDX
FSMAX	+ 0.97	FSSNX
FSMDX	+ 0.96	FSSNX
FSMDX	+ 0.4	FPADX
FSSNX	+ 0.3	FPADX
FSMAX	+ 0.29	FPADX

High negative correlations

FSMAX	- 0.65	FXNAX
FXNAX	- 0.6	FSSNX
FSMDX	- 0.59	FXNAX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity International 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 International'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
FPADX	1.01	0.09	0.08	0.05	1.46	(1.02)	1.80	(2.12)	7.65
FSSNX	1.29	(0.22)	0.00	1.92	0.00	0.00	2.00	(2.95)	12.94
FXNAX	0.27	0.02	0.34	(0.60)	0.27	(0.30)	0.58	(0.48)	2.04
FSMDX	1.16	(0.04)	0.00	(0.13)	0.00	0.00	1.56	(2.32)	12.24
FSMAX	1.43	(0.11)	0.00	(0.18)	0.00	0.00	1.80	(3.55)	14.56

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