Fidelity China Correlations

FHKTX Fund

USD 38.15 0.10 0.26%

The current 90-days correlation between Fidelity China Region and Matthews China Fund is 0.91 (i.e., Almost no diversification). The correlation of Fidelity China 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 China Correlation With Market

Average diversification

The correlation between Fidelity China Region and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity China Region 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 China Region. 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 estimate.

Moving together with Fidelity Mutual Fund

0.72	FQIPX	Fidelity Freedom Index	Pair Corr
0.75	FQLSX	Fidelity Flex Freedom	Pair Corr
0.65	FRAGX	Aggressive Growth	Pair Corr
0.63	FRGAX	Growth Allocation Index	Pair Corr
0.72	FRLPX	Fidelity Freedom Index	Pair Corr
0.67	FAASX	Fidelity Asset Manager	Pair Corr
0.67	FAAIX	Fidelity Asset Manager	Pair Corr
0.74	FABLX	Fidelity Advisor Balanced	Pair Corr
0.74	FABCX	Fidelity Advisor Balanced	Pair Corr
0.62	FACGX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.33

FRESX

Fidelity Real Estate

Pair Corr

Related Correlations Analysis

	MCHFX	PRLAX	MINDX	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX
MCHFX		-0.23	-0.4	0.0	0.81	0.14	0.57	-0.05	-0.07	0.48	MCHFX
PRLAX	-0.23		0.81	0.0	-0.1	0.13	-0.31	0.73	-0.7	-0.08	PRLAX
MINDX	-0.4	0.81		0.0	-0.13	0.38	-0.23	0.62	-0.62	0.01	MINDX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.81	-0.1	-0.13	0.0		0.27	0.69	-0.06	-0.02	0.86	MSTSX
ABHYX	0.14	0.13	0.38	0.0	0.27		0.56	-0.14	-0.08	0.44	ABHYX
LBHIX	0.57	-0.31	-0.23	0.0	0.69	0.56		-0.38	0.3	0.77	LBHIX
SCAXF	-0.05	0.73	0.62	0.0	-0.06	-0.14	-0.38		-0.83	-0.23	SCAXF
VIASP	-0.07	-0.7	-0.62	0.0	-0.02	-0.08	0.3	-0.83		0.16	VIASP
RRTLX	0.48	-0.08	0.01	0.0	0.86	0.44	0.77	-0.23	0.16		RRTLX
	MCHFX	PRLAX	MINDX	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX

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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

RRTLX	+ 0.86	MSTSX
MSTSX	+ 0.81	MCHFX
MINDX	+ 0.81	PRLAX
RRTLX	+ 0.77	LBHIX
SCAXF	+ 0.73	PRLAX
LBHIX	+ 0.69	MSTSX

High negative correlations

VIASP	- 0.83	SCAXF
VIASP	- 0.7	PRLAX
VIASP	- 0.62	MINDX
MINDX	- 0.4	MCHFX
SCAXF	- 0.38	LBHIX
LBHIX	- 0.31	PRLAX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity China 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 China'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
MCHFX	2.07	0.35	0.09	2.14	2.28	(2.73)	5.67	(3.22)	19.23
PRLAX	0.79	(0.22)	0.00	(0.43)	0.00	0.00	1.13	(1.93)	4.55
MINDX	0.71	(0.12)	0.00	(0.11)	0.00	0.00	1.42	(1.64)	4.83
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.49	(0.03)	(0.13)	0.07	0.50	(0.61)	1.21	(1.02)	2.80
ABHYX	0.18	0.03	(0.23)	(0.15)	0.24	(0.24)	0.34	(0.33)	1.91
LBHIX	0.12	0.01	(0.44)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
SCAXF	0.70	(0.37)	0.00	(19.66)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.08	(0.04)	(1.44)	1.13	(0.82)	2.28	(1.20)	7.18
RRTLX	0.23	(0.02)	(0.30)	0.07	0.23	(0.25)	0.48	(0.56)	1.36

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