Fidelity Advisor Correlations

FCFCX Fund

USD 10.78 0.04 0.37%

The current 90-days correlation between Fidelity Advisor Freedom and Qs Growth Fund is 0.61 (i.e., Poor 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 0.49 (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 main economic indicators.

Moving together with Fidelity Mutual Fund

0.97	FPTKX	Fidelity Freedom 2015	Pair Corr
0.85	FQIFX	Fidelity Freedom Index	Pair Corr
0.69	FQITX	Fidelity Salem Street	Pair Corr
0.99	FRAMX	Fidelity Income Repl	Pair Corr
0.98	FRASX	Fidelity Income Repl	Pair Corr
0.65	FRESX	Fidelity Real Estate	Pair Corr
0.83	FRIFX	Fidelity Real Estate	Pair Corr
0.99	FRIMX	Fidelity Income Repl	Pair Corr
0.69	FRINX	Fidelity Real Estate	Pair Corr
0.7	FRIOX	Fidelity Real Estate	Pair Corr
0.71	FRIQX	Fidelity Real Estate	Pair Corr
0.86	FRHMX	Fidelity Managed Ret	Pair Corr
0.81	FRKMX	Fidelity Managed Ret	Pair Corr
0.69	FRIRX	Fidelity Real Estate	Pair Corr
0.65	FROGX	Fidelity Municipal Income	Pair Corr
0.99	FRQHX	Fidelity Managed Ret	Pair Corr
0.86	FRQIX	Fidelity Income Repl	Pair Corr
0.81	FRQKX	Fidelity Managed Ret	Pair Corr
0.86	FRQAX	Fidelity Income Repl	Pair Corr
0.87	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.47

FRPCX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	LANIX	FGTZX	TEGAX	NEAIX	CDGCX	HSUAX	CIPMX	PRNHX
LANIX		0.96	0.93	0.84	0.57	0.89	0.93	0.92	LANIX
FGTZX	0.96		0.85	0.91	0.65	0.83	0.91	0.85	FGTZX
TEGAX	0.93	0.85		0.74	0.47	0.88	0.88	0.95	TEGAX
NEAIX	0.84	0.91	0.74		0.54	0.8	0.79	0.74	NEAIX
CDGCX	0.57	0.65	0.47	0.54		0.24	0.67	0.54	CDGCX
HSUAX	0.89	0.83	0.88	0.8	0.24		0.78	0.83	HSUAX
CIPMX	0.93	0.91	0.88	0.79	0.67	0.78		0.9	CIPMX
PRNHX	0.92	0.85	0.95	0.74	0.54	0.83	0.9		PRNHX
	LANIX	FGTZX	TEGAX	NEAIX	CDGCX	HSUAX	CIPMX	PRNHX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LANIX	0.45	(0.01)	(0.03)	0.00	0.64	(0.52)	0.86	(0.86)	4.70
FGTZX	0.41	(0.02)	(0.04)	(0.01)	0.61	(0.42)	0.82	(0.86)	3.53
TEGAX	0.86	0.08	0.07	0.09	1.09	(0.90)	2.02	(1.56)	7.72
NEAIX	1.01	(0.03)	(0.02)	0.00	1.23	(1.09)	2.16	(2.11)	8.12
CDGCX	0.44	(0.06)	0.00	(0.06)	0.00	0.00	0.94	(0.87)	4.22
HSUAX	0.67	0.09	0.09	0.12	0.83	(0.75)	1.31	(1.23)	6.61
CIPMX	0.81	(0.09)	0.00	(0.04)	0.00	0.00	1.26	(1.21)	12.40
PRNHX	0.82	0.00	0.00	0.02	1.16	(0.83)	1.50	(1.34)	7.56

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