Fidelity Advisor Correlations

FDCFX Fund

USD 11.56 0.02 0.17%

The current 90-days correlation between Fidelity Advisor Freedom and Advent Claymore Convertible is 0.48 (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

Modest diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.25 (i.e., Modest 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

0.79	VTWNX	Vanguard Target Reti	Pair Corr
0.87	FSNOX	Fidelity Freedom 2020	Pair Corr
0.77	PARBX	Trowe Price Retirement	Pair Corr
0.77	RRTBX	Trowe Price Retirement	Pair Corr
0.87	FFFDX	Fidelity Freedom 2020	Pair Corr
0.87	FATKX	Fidelity Freedom 2020	Pair Corr
0.79	AACTX	American Funds 2020	Pair Corr
0.81	CCCTX	American Funds 2020	Pair Corr
0.79	FAOTX	American Funds 2020	Pair Corr
0.61	BTMPX	Ishares Msci Eafe	Pair Corr
0.61	MDIIX	Blackrock Intern Index	Pair Corr

Moving against Fidelity Mutual Fund

0.39

FMFFX

Fs Managed Futures

Pair Corr

Related Correlations Analysis

	AVK	GCV	PBXCX	LCFYX	PRCCX
AVK		0.94	0.68	0.92	0.84	AVK
GCV	0.94		0.72	0.94	0.91	GCV
PBXCX	0.68	0.72		0.81	0.9	PBXCX
LCFYX	0.92	0.94	0.81		0.92	LCFYX
PRCCX	0.84	0.91	0.9	0.92		PRCCX
	AVK	GCV	PBXCX	LCFYX	PRCCX

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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
AVK	0.55	0.04	0.04	0.28	0.77	(0.64)	1.14	(0.84)	5.23
GCV	0.85	0.09	0.07	0.35	1.09	(0.88)	1.65	(1.50)	5.96
PBXCX	0.36	(0.01)	0.00	(0.27)	0.00	0.00	0.88	(0.63)	3.29
LCFYX	0.47	0.04	0.05	0.85	0.61	(0.53)	1.01	(0.81)	3.89
PRCCX	0.44	0.02	0.03	0.12	0.54	(0.51)	0.93	(0.76)	3.56

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