Fidelity Advisor Correlations

FERIX Fund

USD 51.97 0.37 0.71%

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 gross domestic product.

Moving together with Fidelity Mutual Fund

0.77	FPTKX	Fidelity Freedom 2015	Pair Corr
0.75	FRINX	Fidelity Real Estate	Pair Corr
0.75	FRIOX	Fidelity Real Estate	Pair Corr
0.75	FRIQX	Fidelity Real Estate	Pair Corr
0.75	FRIRX	Fidelity Real Estate	Pair Corr
0.79	FRQHX	Fidelity Managed Ret	Pair Corr
0.79	FRQIX	Fidelity Income Repl	Pair Corr
0.79	FRQAX	Fidelity Income Repl	Pair Corr
0.78	FADIX	Fidelity Advisor Div	Pair Corr
0.78	FADCX	Fidelity Advisor Div	Pair Corr
0.77	FAERX	Fidelity Advisor Overseas	Pair Corr
0.63	FAFEX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.59	FACPX	Fidelity Advisor Sumer	Pair Corr
0.38	FADTX	Fidelity Advisor Tec	Pair Corr
0.36	FPURX	Fidelity Puritan	Pair Corr
0.56	FSCRX	Fidelity Small Cap	Pair Corr
0.55	FSCPX	Consumer Discretionary	Pair Corr
0.47	FSBDX	Fidelity Series Blue	Pair Corr
0.41	FSCTX	Fidelity Advisor Small	Pair Corr
0.37	FSCSX	Software And It	Pair Corr
0.36	FAGAX	Fidelity Advisor Growth	Pair Corr
0.33	FSCEX	Fidelity Advisor Small	Pair Corr
0.32	FAEGX	Fidelity Advisor Equity	Pair Corr

Related Correlations Analysis

	FEATX	FERCX	FEAAX	FIMKX	FHKIX
FEATX		1.0	0.92	0.93	0.94	FEATX
FERCX	1.0		0.92	0.93	0.94	FERCX
FEAAX	0.92	0.92		0.84	0.86	FEAAX
FIMKX	0.93	0.93	0.84		0.96	FIMKX
FHKIX	0.94	0.94	0.86	0.96		FHKIX
	FEATX	FERCX	FEAAX	FIMKX	FHKIX

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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
FEATX	0.94	0.03	0.02	0.07	1.28	(0.90)	1.74	(2.16)	6.48
FERCX	0.94	0.03	0.02	0.06	1.29	(0.90)	1.75	(2.15)	6.47
FEAAX	0.93	0.04	0.03	(3.00)	1.25	(0.88)	1.75	(2.16)	6.49
FIMKX	0.82	0.10	0.09	0.21	0.94	(0.88)	1.98	(1.79)	6.13
FHKIX	1.15	0.10	0.07	0.19	1.33	(1.23)	2.32	(2.08)	7.21

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