Fidelity Global Correlations

Mutual Funds . USA . 
Fund . Fidelity Global Equity
FGILX Fund  USD 21.18  0.09  0.43%   
The current 90-days correlation between Fidelity Global Equity and American Funds Capital is 0.92 (i.e., Almost no diversification). The correlation of Fidelity Global 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 Global Correlation With Market

Very poor diversification

The correlation between Fidelity Global Equity and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Global Equity 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 Global Equity. 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  0.67FPTKX Fidelity Freedom 2015PairCorr
  0.78FPURX Fidelity PuritanPairCorr
  0.78FPUKX Fidelity PuritanPairCorr
  0.84FQIFX Fidelity Freedom IndexPairCorr
  0.93FQIPX Fidelity Freedom IndexPairCorr
  0.93FQLSX Fidelity Flex FreedomPairCorr
  0.89FRAGX Aggressive GrowthPairCorr
  0.92FRGAX Growth Allocation IndexPairCorr
  0.93FRLPX Fidelity Freedom IndexPairCorr
  0.94FAASX Fidelity Asset ManagerPairCorr
  0.94FAAIX Fidelity Asset ManagerPairCorr
  0.77FABLX Fidelity Advisor BalancedPairCorr
  0.77FABCX Fidelity Advisor BalancedPairCorr
  0.62FACVX Fidelity VertiblePairCorr
  0.63FACPX Fidelity Advisor SumerPairCorr
  0.86FACNX Fidelity CanadaPairCorr
  0.7FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Global 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 Global'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FCWGX  0.53 (0.05)(0.12) 0.05  0.72 
(0.55)
 1.17 
(1.36)
 3.17 
FWCGX  0.54 (0.05)(0.12) 0.05  0.72 
(0.55)
 1.18 
(1.38)
 3.19 
CWGIX  0.54 (0.05)(0.12) 0.05  0.72 
(0.55)
 1.18 
(1.36)
 3.19 
CWGFX  0.54 (0.05)(0.12) 0.05  0.72 
(0.55)
 1.17 
(1.36)
 3.18 
CWGCX  0.54 (0.05)(0.12) 0.05  0.73 
(0.55)
 1.17 
(1.36)
 3.20 
RWIFX  0.54 (0.05)(0.12) 0.05  0.72 
(0.55)
 1.18 
(1.36)
 3.19 
CWICX  0.54 (0.05)(0.12) 0.05  0.73 
(0.55)
 1.18 
(1.37)
 3.19 
RWIAX  0.54 (0.05)(0.12) 0.05  0.73 
(0.55)
 1.17 
(1.36)
 3.19 
CWIAX  0.54 (0.05)(0.12) 0.05  0.72 
(0.55)
 1.17 
(1.37)
 3.19 
WGIFX  0.54 (0.05)(0.12) 0.05  0.72 
(0.55)
 1.19 
(1.36)
 3.19 

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