Fidelity Emerging Correlations

Mutual Funds . USA . 
Fund . Fidelity Emerging Markets
FEDDX Fund  USD 16.39  0.04  0.24%   
The current 90-days correlation between Fidelity Emerging Markets and Fidelity Total Emerging is -0.07 (i.e., Good 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

Modest diversification

The correlation between Fidelity Emerging Markets and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Emerging Markets 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 Markets. 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 unemployment.

Moving together with Fidelity Mutual Fund

  0.87FQITX Fidelity Salem StreetPairCorr

Moving against Fidelity Mutual Fund

  0.8FRPCX Fidelity Sai AlternativePairCorr
  0.41FPUKX Fidelity PuritanPairCorr
  0.4FPURX Fidelity PuritanPairCorr
  0.66FAFSX Fidelity Advisor FinPairCorr
  0.66FAFDX Fidelity Advisor FinPairCorr
  0.66FAFCX Fidelity Advisor FinPairCorr
  0.58FACVX Fidelity VertiblePairCorr
  0.56FAGKX Fidelity Growth StraPairCorr
  0.53FACPX Fidelity Advisor Sumer Steady GrowthPairCorr
  0.45FADTX Fidelity Advisor TecPairCorr
  0.41FAGOX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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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   
FIVLX
+ 0.86
FTIEX
FTIEX
+ 0.35
FGILX
FIVLX
+ 0.09
FGILX
FGILX
+ 0.07
FIENX
FIVLX
+ 0.02
FTEMX
FIENX
+ 0.01
FTEMX
  
High negative correlations   
FGILX
- 0.56
FTEMX
FTIEX
- 0.35
FTEMX
FIVLX
- 0.33
FIENX
FTIEX
- 0.3
FIENX

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.

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