Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Financial
FAFDX Fund  USD 36.01  0.12  0.33%   
The current 90-days correlation between Fidelity Advisor Fin and Goldman Sachs Emerging is 0.1 (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 Financial and DJI is 0.59 (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 Financial 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 Financial. 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 unemployment.

Moving together with Fidelity Mutual Fund

  0.79FPTKX Fidelity Freedom 2015PairCorr
  0.81FPURX Fidelity PuritanPairCorr
  0.7FPXTX Fidelity PennsylvaniaPairCorr
  0.82FQIFX Fidelity Freedom IndexPairCorr
  0.71FRGAX Growth Allocation IndexPairCorr
  0.87FRESX Fidelity Real EstatePairCorr
  0.81FRIFX Fidelity Real EstatePairCorr
  0.72FRIMX Fidelity Income ReplPairCorr
  0.71FRHMX Fidelity Managed RetPairCorr
  0.73FRQAX Fidelity Income ReplPairCorr
  0.78FAASX Fidelity Asset ManagerPairCorr
  0.78FAAIX Fidelity Asset ManagerPairCorr
  0.66FACTX Fidelity Advisor HealthPairCorr
  0.68FACDX Fidelity Advisor HealthPairCorr
  0.72FADMX Fidelity Advisor StrPairCorr
  0.64FADAX Fidelity Advisor DividendPairCorr
  1.0FAFSX Fidelity Advisor FinPairCorr
  1.0FAFCX Fidelity Advisor FinPairCorr
  0.83FALIX Fidelity Advisor LargePairCorr
  0.81FALAX Fidelity Advisor LargePairCorr
  0.72FSAZX Fidelity Arizona MunPairCorr
  0.82FAMRX Fidelity Asset ManagerPairCorr
  0.66FSCDX Fidelity Advisor SmallPairCorr

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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