Fidelity International Correlations

FSPSX Fund

USD 58.21 0.39 0.67%

The current 90-days correlation between Fidelity International and Fidelity Emerging Markets is 0.5 (i.e., Very weak 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 -0.14 (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

0.82	VGTSX	Vanguard Total Inter	Pair Corr
0.82	VTIAX	Vanguard Total Inter	Pair Corr
0.82	VTSNX	Vanguard Total Inter	Pair Corr
0.97	VTPSX	Vanguard Total Inter	Pair Corr
0.82	VTISX	Vanguard Total Inter	Pair Corr
0.99	VTMGX	Vanguard Developed	Pair Corr
0.83	VDVIX	Vanguard Developed	Pair Corr
0.83	VTMNX	Vanguard Developed	Pair Corr
0.83	VDIPX	Vanguard Developed	Pair Corr
0.74	FSMMX	Fs Multi Strategy	Pair Corr
0.82	BTMPX	Ishares Msci Eafe	Pair Corr
0.82	BTMKX	Blackrock International	Pair Corr
1.0	MDIIX	Blackrock Intern Index	Pair Corr
0.83	CVLOX	Calamos Global Growth	Pair Corr
0.93	UIVMX	Mfs Intrinsic Value	Pair Corr
0.83	PHK	Pimco High Income	Pair Corr
0.77	MAUKX	Pioneer Multi Asset	Pair Corr

Moving against Fidelity Mutual Fund

0.33

HPQ

HP Inc

Pair Corr

Related Correlations Analysis

	FPADX	FSSNX	FXNAX	FSMDX	FSMAX
FPADX		0.96	0.58	0.96	0.97	FPADX
FSSNX	0.96		0.57	0.99	0.99	FSSNX
FXNAX	0.58	0.57		0.5	0.52	FXNAX
FSMDX	0.96	0.99	0.5		0.99	FSMDX
FSMAX	0.97	0.99	0.52	0.99		FSMAX
	FPADX	FSSNX	FXNAX	FSMDX	FSMAX

Click cells to compare fundamentals

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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	0.50	0.23	(0.01)	(15.95)	0.00	(0.66)	1.37	(0.84)	3.81
FSSNX	0.88	0.30	(0.01)	(0.71)	0.82	(1.02)	1.85	(1.53)	6.22
FXNAX	0.23	0.00	(0.73)	0.13	0.26	(0.28)	0.49	(0.48)	1.17
FSMDX	0.63	0.24	(0.04)	(1.10)	0.52	(0.72)	1.34	(0.96)	5.21
FSMAX	0.75	0.30	0.02	(1.16)	0.56	(0.93)	1.84	(1.07)	6.41

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