Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Freedom
FAFAX Fund  USD 10.26  0.01  0.1%   
The current 90-days correlation between Fidelity Advisor Freedom and Ashmore Emerging Markets is 0.51 (i.e., Very weak 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 0.51 (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 nation.

Moving together with Fidelity Mutual Fund

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.66FPXTX Fidelity PennsylvaniaPairCorr
  0.7FQIFX Fidelity Freedom IndexPairCorr
  0.95FQITX Fidelity Salem StreetPairCorr
  0.62FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRASX Fidelity Income ReplPairCorr
  0.78FRESX Fidelity Real EstatePairCorr
  0.93FRIFX Fidelity Real EstatePairCorr
  1.0FRIMX Fidelity Income ReplPairCorr
  0.96FRINX Fidelity Real EstatePairCorr
  0.96FRIOX Fidelity Real EstatePairCorr
  0.96FRIQX Fidelity Real EstatePairCorr
  0.96FRHMX Fidelity Managed RetPairCorr
  0.96FRKMX Fidelity Managed RetPairCorr
  0.96FRIRX Fidelity Real EstatePairCorr
  0.72FROGX Fidelity Municipal IncomePairCorr
  0.96FRQHX Fidelity Managed RetPairCorr
  0.96FRQIX Fidelity Income ReplPairCorr
  1.0FRQKX Fidelity Managed RetPairCorr
  1.0FRQAX Fidelity Income ReplPairCorr

Moving against Fidelity Mutual Fund

  0.61FADTX Fidelity Advisor TecPairCorr
  0.56FACPX Fidelity Advisor SumerPairCorr
  0.51FAEGX Fidelity Advisor EquityPairCorr
  0.39FACVX Fidelity ConvertiblePairCorr
  0.35FACGX Fidelity Advisor GrowthPairCorr
  0.35FAGKX Fidelity Growth StraPairCorr
  0.34FAGCX Fidelity Advisor GrowthPairCorr
  0.32FACDX Fidelity Advisor HealthPairCorr

Related Correlations Analysis

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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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