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.
Fidelity |
Moving together with Fidelity Mutual Fund
0.67 | FAGIX | Fidelity Capital Income | PairCorr |
0.79 | FAIOX | Fidelity Advisor Balanced | PairCorr |
0.63 | FALIX | Fidelity Advisor Large | PairCorr |
0.63 | FALAX | Fidelity Advisor Large | PairCorr |
0.74 | FAMKX | Fidelity Advisor Emerging | PairCorr |
0.71 | FSANX | Fidelity Asset Manager | PairCorr |
0.74 | FANIX | Fidelity Advisor Energy | PairCorr |
0.76 | FAMRX | Fidelity Asset Manager | PairCorr |
0.63 | FSCDX | Fidelity Advisor Small | PairCorr |
0.63 | FSCIX | Fidelity Advisor Small | PairCorr |
0.69 | FSDIX | Fidelity Strategic | PairCorr |
0.89 | FSDPX | Materials Portfolio | PairCorr |
0.86 | FSEAX | Fidelity Emerging Asia | PairCorr |
0.73 | FSNQX | Fidelity Freedom 2030 | PairCorr |
0.93 | FSRRX | Fidelity Strategic Real | PairCorr |
0.73 | FSUTX | Utilities Portfolio | PairCorr |
Related Correlations Analysis
0.78 | 0.77 | 0.61 | 0.49 | FSDPX | ||
0.78 | 0.65 | 0.41 | 0.32 | FNARX | ||
0.77 | 0.65 | 0.78 | 0.78 | FSUTX | ||
0.61 | 0.41 | 0.78 | 0.83 | FSAVX | ||
0.49 | 0.32 | 0.78 | 0.83 | FSPCX | ||
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
FSDPX | 0.71 | (0.04) | (0.08) | 0.09 | 0.66 | 1.62 | 3.93 | |||
FNARX | 0.83 | (0.02) | (0.09) | 0.06 | 1.13 | 1.75 | 4.40 | |||
FSUTX | 0.85 | 0.10 | 0.01 | 0.44 | 0.94 | 1.87 | 5.83 | |||
FSAVX | 0.88 | 0.01 | 0.01 | 0.14 | 0.99 | 2.23 | 4.99 | |||
FSPCX | 0.70 | (0.04) | (0.07) | 0.08 | 0.72 | 1.58 | 5.10 |