Fidelity International Correlations

FSPSX Fund

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The current 90-days correlation between Fidelity International and Amcap Fund Class is 0.77 (i.e., Poor 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 -0.18 (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 main economic indicators.

Moving together with Fidelity Mutual Fund

0.84	VGTSX	Vanguard Total Inter	Pair Corr
0.84	VTIAX	Vanguard Total Inter	Pair Corr
0.97	VTSNX	Vanguard Total Inter	Pair Corr
0.84	VTPSX	Vanguard Total Inter	Pair Corr
0.97	VTISX	Vanguard Total Inter	Pair Corr
0.99	VTMGX	Vanguard Developed	Pair Corr
0.98	VDVIX	Vanguard Developed	Pair Corr
0.99	VTMNX	Vanguard Developed	Pair Corr
0.85	VDIPX	Vanguard Developed	Pair Corr
0.81	SMPSX	Semiconductor Ultrasector	Pair Corr
0.72	SMPIX	Semiconductor Ultrasector	Pair Corr
0.79	RSNRX	Victory Global Natural	Pair Corr
0.79	RSNYX	Victory Global Natural	Pair Corr
0.78	RGNCX	Victory Global Natural	Pair Corr
0.92	SEFCX	Sit International Equity	Pair Corr
0.73	JAMRX	Janus Research	Pair Corr
0.76	FIUIX	Fidelity Telecom And	Pair Corr
0.71	SVPIX	Small Cap Value	Pair Corr
0.7	RYPNX	Royce Opportunity	Pair Corr
0.74	FUMBX	Fidelity Short Term	Pair Corr
0.83	NOINX	Northern International	Pair Corr
0.83	DMB	Bny Mellon Municipal	Pair Corr
0.79	SEDAX	Siit Emerging Markets	Pair Corr
0.87	USAAX	Growth Fund Growth	Pair Corr
0.85	PRGFX	T Rowe Price	Pair Corr

Moving against Fidelity Mutual Fund

0.63	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.63	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.63	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	AMPCX	NFFFX	NEWFX	NWFFX	RNWGX	FGCKX	AMFFX	FEGRX	SGENX	RMFGX
AMPCX		0.95	0.95	0.95	0.95	0.95	0.81	0.88	0.83	0.88	AMPCX
NFFFX	0.95		1.0	1.0	1.0	0.98	0.84	0.94	0.89	0.9	NFFFX
NEWFX	0.95	1.0		1.0	1.0	0.98	0.84	0.94	0.89	0.91	NEWFX
NWFFX	0.95	1.0	1.0		1.0	0.98	0.84	0.94	0.89	0.91	NWFFX
RNWGX	0.95	1.0	1.0	1.0		0.98	0.84	0.94	0.89	0.9	RNWGX
FGCKX	0.95	0.98	0.98	0.98	0.98		0.79	0.9	0.84	0.85	FGCKX
AMFFX	0.81	0.84	0.84	0.84	0.84	0.79		0.85	0.94	0.89	AMFFX
FEGRX	0.88	0.94	0.94	0.94	0.94	0.9	0.85		0.93	0.94	FEGRX
SGENX	0.83	0.89	0.89	0.89	0.89	0.84	0.94	0.93		0.89	SGENX
RMFGX	0.88	0.9	0.91	0.91	0.9	0.85	0.89	0.94	0.89		RMFGX
	AMPCX	NFFFX	NEWFX	NWFFX	RNWGX	FGCKX	AMFFX	FEGRX	SGENX	RMFGX

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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
AMPCX	0.56	0.07	(0.03)	(0.39)	0.84	(0.51)	1.29	(1.26)	4.70
NFFFX	0.49	0.10	0.02	2.80	0.53	(0.57)	1.24	(0.78)	4.03
NEWFX	0.49	0.10	0.02	2.79	0.54	(0.59)	1.22	(0.79)	4.02
NWFFX	0.49	0.10	0.02	2.93	0.55	(0.59)	1.23	(0.78)	4.03
RNWGX	0.49	0.10	0.02	2.78	0.54	(0.57)	1.24	(0.78)	4.03
FGCKX	0.77	0.17	0.05	(0.95)	0.97	(0.84)	1.43	(1.64)	5.19
AMFFX	0.39	(0.02)	(0.09)	0.06	0.47	(0.41)	0.91	(0.69)	2.98
FEGRX	0.43	0.13	0.03	(0.53)	0.38	(0.48)	1.01	(0.89)	3.03
SGENX	0.44	0.05	0.02	0.18	0.41	(0.48)	1.01	(0.89)	3.03
RMFGX	0.38	0.06	(0.09)	(0.33)	0.47	(0.41)	0.92	(0.69)	3.00

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