Fidelity Advisor Correlations

FFFZX Fund

USD 13.75 0.07 0.51%

The current 90-days correlation between Fidelity Advisor Freedom and Financials Ultrasector Profund is 0.18 (i.e., Average 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

Poor diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.75 (i.e., Poor 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 nation.

Moving together with Fidelity Mutual Fund

0.84	FPTKX	Fidelity Freedom 2015	Pair Corr
0.76	FQIFX	Fidelity Freedom Index	Pair Corr
0.73	FQIPX	Fidelity Freedom Index	Pair Corr
0.96	FQLSX	Fidelity Flex Freedom	Pair Corr
0.61	FRAGX	Aggressive Growth	Pair Corr
0.7	FRAMX	Fidelity Income Repl	Pair Corr
0.77	FRASX	Fidelity Income Repl	Pair Corr
0.67	FRGAX	Growth Allocation Index	Pair Corr
0.61	FRIMX	Fidelity Income Repl	Pair Corr
0.71	FRHMX	Fidelity Managed Ret	Pair Corr
0.71	FRKMX	Fidelity Managed Ret	Pair Corr
0.91	FRLPX	Fidelity Freedom Index	Pair Corr
0.72	FRQHX	Fidelity Managed Ret	Pair Corr
0.62	FRQIX	Fidelity Income Repl	Pair Corr
0.72	FRQKX	Fidelity Managed Ret	Pair Corr
0.71	FRQAX	Fidelity Income Repl	Pair Corr
0.9	FAASX	Fidelity Asset Manager	Pair Corr
0.89	FAAIX	Fidelity Asset Manager	Pair Corr
0.61	FACTX	Fidelity Advisor Health	Pair Corr
0.64	FACNX	Fidelity Canada	Pair Corr
0.73	FACFX	Fidelity Advisor Freedom	Pair Corr

Related Correlations Analysis

	FNPIX	SBFAX	RPFGX	FIKBX	FTIXX	PFSQX	MCBXX
FNPIX		0.7	0.91	0.99	0.0	0.96	0.0	FNPIX
SBFAX	0.7		0.86	0.68	0.0	0.74	0.0	SBFAX
RPFGX	0.91	0.86		0.9	0.0	0.9	0.0	RPFGX
FIKBX	0.99	0.68	0.9		0.0	0.98	0.0	FIKBX
FTIXX	0.0	0.0	0.0	0.0		0.0	0.0	FTIXX
PFSQX	0.96	0.74	0.9	0.98	0.0		0.0	PFSQX
MCBXX	0.0	0.0	0.0	0.0	0.0	0.0		MCBXX
	FNPIX	SBFAX	RPFGX	FIKBX	FTIXX	PFSQX	MCBXX

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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

FIKBX	+ 0.99	FNPIX
PFSQX	+ 0.98	FIKBX
PFSQX	+ 0.96	FNPIX
RPFGX	+ 0.91	FNPIX
FIKBX	+ 0.9	RPFGX
PFSQX	+ 0.9	RPFGX

High negative correlations

MCBXX	- 0.0	PFSQX
MCBXX	- 0.0	FTIXX
PFSQX	- 0.0	FTIXX
MCBXX	- 0.0	FIKBX
FTIXX	- 0.0	FIKBX
MCBXX	- 0.0	RPFGX

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
FNPIX	1.07	0.13	0.07	0.97	1.18	(1.14)	2.48	(1.89)	13.80
SBFAX	0.93	(0.09)	0.00	(0.03)	0.00	0.00	1.72	(1.51)	16.49
RPFGX	0.81	0.01	0.01	0.04	1.11	(0.87)	1.33	(1.40)	10.37
FIKBX	0.83	0.06	0.02	0.98	1.04	(0.92)	1.88	(1.41)	11.23
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFSQX	0.83	(0.03)	0.00	(0.30)	0.00	0.00	1.55	(1.72)	12.13
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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