Fidelity Global Correlations

FFGCX Fund  USD 19.15  0.33  1.69%   
The current 90-days correlation between Fidelity Global Modity and Materials Portfolio Materials is 0.7 (i.e., Poor 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

Weak diversification

The correlation between Fidelity Global Modity and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Global Modity 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 Modity. 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

  0.67FAGIX Fidelity Capital IncomePairCorr
  0.79FAIOX Fidelity Advisor BalancedPairCorr
  0.63FALIX Fidelity Advisor LargePairCorr
  0.63FALAX Fidelity Advisor LargePairCorr
  0.74FAMKX Fidelity Advisor EmergingPairCorr
  0.71FSANX Fidelity Asset ManagerPairCorr
  0.74FANIX Fidelity Advisor EnergyPairCorr
  0.76FAMRX Fidelity Asset ManagerPairCorr
  0.63FSCDX Fidelity Advisor SmallPairCorr
  0.63FSCIX Fidelity Advisor SmallPairCorr
  0.69FSDIX Fidelity StrategicPairCorr
  0.89FSDPX Materials PortfolioPairCorr
  0.86FSEAX Fidelity Emerging AsiaPairCorr
  0.73FSNQX Fidelity Freedom 2030PairCorr
  0.93FSRRX Fidelity Strategic RealPairCorr
  0.73FSUTX Utilities PortfolioPairCorr

Related Correlations Analysis

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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.