Fidelity Global Correlations

FFGCX Fund

USD 19.40 0.22 1.12%

The current 90-days correlation between Fidelity Global Modity and Materials Portfolio Materials is -0.02 (i.e., Good 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 weak diversification

The correlation between Fidelity Global Modity and DJI is 0.46 (i.e., Very 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

0.65	FPURX	Fidelity Puritan	Pair Corr
0.68	FPUKX	Fidelity Puritan	Pair Corr
0.64	FQIFX	Fidelity Freedom Index	Pair Corr
0.8	FQIPX	Fidelity Freedom Index	Pair Corr
0.88	FQLSX	Fidelity Flex Freedom	Pair Corr
0.75	FRAGX	Aggressive Growth	Pair Corr
0.75	FRGAX	Growth Allocation Index	Pair Corr
0.8	FRLPX	Fidelity Freedom Index	Pair Corr
0.83	FAASX	Fidelity Asset Manager	Pair Corr
0.83	FAAIX	Fidelity Asset Manager	Pair Corr
0.79	FABLX	Fidelity Advisor Balanced	Pair Corr
0.79	FABCX	Fidelity Advisor Balanced	Pair Corr
0.78	FACNX	Fidelity Canada	Pair Corr
0.7	FACGX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	FSDPX	FNARX	FSUTX	FSAVX	FSPCX
FSDPX		0.75	0.78	0.65	0.51	FSDPX
FNARX	0.75		0.58	0.47	0.34	FNARX
FSUTX	0.78	0.58		0.76	0.76	FSUTX
FSAVX	0.65	0.47	0.76		0.81	FSAVX
FSPCX	0.51	0.34	0.76	0.81		FSPCX
	FSDPX	FNARX	FSUTX	FSAVX	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	0.75	0.06	(0.05)	6.56	0.86	(0.82)	1.62	(1.48)	4.25
FNARX	0.86	(0.05)	0.00	(0.44)	0.00	0.00	1.75	(1.60)	4.40
FSUTX	0.86	0.15	0.06	0.89	0.90	(0.95)	1.87	(2.01)	5.83
FSAVX	0.90	0.13	0.01	(0.94)	1.08	(0.88)	2.23	(1.87)	4.99
FSPCX	0.70	0.11	0.01	(6.95)	0.70	(0.80)	1.58	(1.17)	5.10

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Fidelity Global Correlations

Fidelity Global Correlation With Market

Very weak diversification

Moving together with Fidelity Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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