Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Freedom
FACFX Fund  USD 11.04  0.01  0.09%   
The current 90-days correlation between Fidelity Advisor Freedom and Dodge Cox Stock is 0.11 (i.e., Average diversification). The correlation of Fidelity Advisor 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 Advisor Correlation With Market

Very weak diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Freedom 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 Advisor Freedom. 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 census.

Moving together with Fidelity Mutual Fund

  0.96FPTKX Fidelity Freedom 2015PairCorr
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.73FQIFX Fidelity Freedom IndexPairCorr
  0.67FQITX Fidelity Salem StreetPairCorr
  0.99FRAMX Fidelity Income ReplPairCorr
  1.0FRASX Fidelity Income ReplPairCorr
  0.74FRIFX Fidelity Real EstatePairCorr
  0.92FRIMX Fidelity Income ReplPairCorr
  0.77FRINX Fidelity Real EstatePairCorr
  0.79FRIOX Fidelity Real EstatePairCorr
  0.77FRIQX Fidelity Real EstatePairCorr
  0.99FRHMX Fidelity Managed RetPairCorr
  0.99FRKMX Fidelity Managed RetPairCorr
  0.74FRIRX Fidelity Real EstatePairCorr
  0.7FROGX Fidelity Municipal IncomePairCorr
  0.99FRQHX Fidelity Managed RetPairCorr
  0.99FRQIX Fidelity Income ReplPairCorr
  0.99FRQKX Fidelity Managed RetPairCorr
  0.99FRQAX Fidelity Income ReplPairCorr
  0.67FACTX Fidelity Advisor HealthPairCorr

Moving against Fidelity Mutual Fund

  0.57FRPDX Fidelity Sai AlternativePairCorr
  0.43FAFSX Fidelity Advisor FinPairCorr
  0.31FACVX Fidelity ConvertiblePairCorr

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 Advisor 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 Advisor'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.

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