Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Emerging
FERCX Fund  USD 41.75  0.31  0.74%   
The current 90-days correlation between Fidelity Advisor Emerging and Fidelity Advisor Emerging is 1.0 (i.e., No risk reduction). 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 Emerging and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Emerging 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 Emerging. 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

  0.76FPTKX Fidelity Freedom 2015PairCorr
  0.74FRINX Fidelity Real EstatePairCorr
  0.74FRIOX Fidelity Real EstatePairCorr
  0.74FRIQX Fidelity Real EstatePairCorr
  0.74FRIRX Fidelity Real EstatePairCorr
  0.78FRQHX Fidelity Managed RetPairCorr
  0.78FRQIX Fidelity Income ReplPairCorr
  0.79FRQAX Fidelity Income ReplPairCorr
  0.77FADIX Fidelity Advisor DivPairCorr
  0.77FADCX Fidelity Advisor DivPairCorr
  0.76FAERX Fidelity Advisor OverseasPairCorr
  0.63FAFEX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.58FACPX Fidelity Advisor SumerPairCorr
  0.36FADTX Fidelity Advisor TecPairCorr
  0.35FPURX Fidelity PuritanPairCorr
  0.55FSCRX Fidelity Small CapPairCorr
  0.54FSCPX Consumer DiscretionaryPairCorr
  0.46FSBDX Fidelity Series BluePairCorr
  0.4FSCTX Fidelity Advisor SmallPairCorr
  0.36FSCSX Software And ItPairCorr
  0.35FAGAX Fidelity Advisor GrowthPairCorr
  0.32FSCEX Fidelity Advisor SmallPairCorr
  0.31FAEGX Fidelity Advisor EquityPairCorr

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   
FERIX
+ 1.0
FEATX
FMCKX
+ 0.93
FEATX
FMCKX
+ 0.93
FERIX
FEAAX
+ 0.92
FEATX
FEAAX
+ 0.92
FERIX
FEAAX
+ 0.84
FMCKX
  
High negative correlations   
FEAAX
- 0.25
FNRCX
FNRCX
- 0.19
FERIX
FNRCX
- 0.19
FEATX

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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