Fidelity Advisor Correlations

Mutual Funds USA . 
Fund . Fidelity Advisor Freedom
FAFAX Fund  USD 10.29  0.03  0.29%   
The current 90-days correlation between Fidelity Advisor Freedom and Stone Ridge Diversified is 0.07 (i.e., Significant 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

Weak diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.36 (i.e., 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

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.67FPURX Fidelity PuritanPairCorr
  0.67FPUKX Fidelity PuritanPairCorr
  0.79FPXTX Fidelity PennsylvaniaPairCorr
  0.92FQIFX Fidelity Freedom IndexPairCorr
  0.94FQIPX Fidelity Freedom IndexPairCorr
  0.9FQITX Fidelity Salem StreetPairCorr
  0.88FQLSX Fidelity Flex FreedomPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  1.0FRAMX Fidelity Income ReplPairCorr
  1.0FRASX Fidelity Income ReplPairCorr
  0.94FRGAX Growth Allocation IndexPairCorr
  0.63FRESX Fidelity Real EstatePairCorr
  0.95FRIFX Fidelity Real EstatePairCorr
  1.0FRIMX Fidelity Income ReplPairCorr
  0.95FRINX Fidelity Real EstatePairCorr
  0.93FRIOX Fidelity Real EstatePairCorr
  0.94FRIQX Fidelity Real EstatePairCorr
  1.0FRHMX Fidelity Managed RetPairCorr
  1.0FRKMX Fidelity Managed RetPairCorr
  0.95FRIRX Fidelity Real EstatePairCorr
  0.94FRLPX Fidelity Freedom IndexPairCorr
  0.77FROGX Fidelity Municipal IncomePairCorr
  1.0FRQHX Fidelity Managed RetPairCorr
  1.0FRQIX Fidelity Income ReplPairCorr
  1.0FRQKX Fidelity Managed RetPairCorr
  0.63FRPDX Fidelity Sai AlternativePairCorr
  1.0FRQAX Fidelity Income ReplPairCorr
  0.61FAASX Fidelity Asset ManagerPairCorr
  0.62FAAIX Fidelity Asset ManagerPairCorr
  0.95FACFX Fidelity Advisor FreedomPairCorr
  0.96FADMX Fidelity Advisor StrPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BICPX
+ 0.99
VYRPX
LIGFX
+ 0.97
VYRPX
BICPX
+ 0.97
LIGFX
FHCOX
+ 0.9
JDJRX
PGBAX
+ 0.89
VYRPX
PGBAX
+ 0.88
BICPX
  
High negative correlations   
BICPX
- 0.12
SRDAX
LIGFX
- 0.1
SRDAX
VYRPX
- 0.02
SRDAX

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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