Fidelity Advisor Correlations

FDGTX Fund

USD 20.46 0.46 2.30%

The current 90-days correlation between Fidelity Advisor Dividend and Dreyfus Technology Growth is 0.74 (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 Dividend and DJI is 0.44 (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 Dividend 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 Dividend. 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 estimate.

Moving together with Fidelity Mutual Fund

0.82	FAASX	Fidelity Asset Manager	Pair Corr
0.82	FAAIX	Fidelity Asset Manager	Pair Corr
0.98	FACVX	Fidelity Convertible	Pair Corr
0.89	FACTX	Fidelity Advisor Health	Pair Corr
0.9	FACPX	Fidelity Advisor Sumer	Pair Corr
0.76	FACGX	Fidelity Advisor Growth	Pair Corr
0.89	FACDX	Fidelity Advisor Health	Pair Corr
0.95	FADTX	Fidelity Advisor Tec	Pair Corr
1.0	FADAX	Fidelity Advisor Dividend	Pair Corr
0.79	FAEVX	Fidelity Advisor Equity	Pair Corr
0.97	FAEGX	Fidelity Advisor Equity	Pair Corr
0.68	FAFSX	Fidelity Advisor Fin	Pair Corr
0.68	FAFDX	Fidelity Advisor Fin	Pair Corr
0.7	FAFCX	Fidelity Advisor Fin	Pair Corr
0.76	FAGOX	Fidelity Advisor Growth	Pair Corr
0.96	FAGKX	Fidelity Growth Stra	Pair Corr
0.76	FAGCX	Fidelity Advisor Growth	Pair Corr
0.76	FAGAX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.4	FRIFX	Fidelity Real Estate	Pair Corr
0.4	FRIRX	Fidelity Real Estate	Pair Corr
0.39	FRIQX	Fidelity Real Estate	Pair Corr
0.35	FRIOX	Fidelity Real Estate	Pair Corr
0.32	FAERX	Fidelity Advisor Overseas	Pair Corr
0.69	FAMHX	Fidelity Municipal Income	Pair Corr

Related Correlations Analysis

	DTEYX	TOWTX	WFSTX	TEPIX	RAGTX	RINCX
DTEYX		0.93	0.83	0.69	0.92	0.96	DTEYX
TOWTX	0.93		0.77	0.55	0.79	0.85	TOWTX
WFSTX	0.83	0.77		0.74	0.78	0.87	WFSTX
TEPIX	0.69	0.55	0.74		0.82	0.8	TEPIX
RAGTX	0.92	0.79	0.78	0.82		0.97	RAGTX
RINCX	0.96	0.85	0.87	0.8	0.97		RINCX
	DTEYX	TOWTX	WFSTX	TEPIX	RAGTX	RINCX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
DTEYX	1.38	(0.05)	(0.16)	2.50	(3.77)	7.35
TOWTX	0.67	(0.02)	(0.14)	1.31	(1.85)	4.10
WFSTX	0.98	(0.21)	(0.35)	1.42	(2.75)	8.38
TEPIX	2.08	(0.22)	(0.24)	2.94	(5.42)	12.94
RAGTX	1.44	(0.11)	(0.21)	2.56	(3.76)	8.10
RINCX	1.49	(0.15)	(0.24)	2.52	(4.07)	8.21

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