Fidelity Advisor Correlations

Mutual Funds USA . 
Fund . Fidelity Advisor Emerging
FZAEX Fund  USD 33.51  0.03  0.09%   
The current 90-days correlation between Fidelity Advisor Emerging and Fidelity International Growth is 0.66 (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

Weak diversification

The correlation between Fidelity Advisor Emerging and DJI is 0.35 (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 income.

Moving together with Fidelity Mutual Fund

  0.8FPTKX Fidelity Freedom 2015PairCorr
  0.85FQITX Fidelity Salem StreetPairCorr
  0.83FRASX Fidelity Income ReplPairCorr
  0.79FRIFX Fidelity Real EstatePairCorr
  0.85FRIMX Fidelity Income ReplPairCorr
  0.8FRINX Fidelity Real EstatePairCorr
  0.79FRIOX Fidelity Real EstatePairCorr
  0.8FRIQX Fidelity Real EstatePairCorr
  0.83FRHMX Fidelity Managed RetPairCorr
  0.82FRKMX Fidelity Managed RetPairCorr
  0.8FRIRX Fidelity Real EstatePairCorr
  0.82FRQHX Fidelity Managed RetPairCorr
  0.82FRQIX Fidelity Income ReplPairCorr
  0.85FRQKX Fidelity Managed RetPairCorr
  0.85FRQAX Fidelity Income ReplPairCorr

Moving against Fidelity Mutual Fund

  0.44FPURX Fidelity PuritanPairCorr
  0.41FPUKX Fidelity PuritanPairCorr
  0.69FACPX Fidelity Advisor Sumer Steady GrowthPairCorr
  0.55FADTX Fidelity Advisor TecPairCorr
  0.48FAEGX Fidelity Advisor EquityPairCorr
  0.43FACVX Fidelity ConvertiblePairCorr
  0.43FACGX Fidelity Advisor GrowthPairCorr
  0.42FAGOX Fidelity Advisor GrowthPairCorr
  0.4FAGKX Fidelity Growth Stra Steady GrowthPairCorr
  0.37FRPCX Fidelity Sai AlternativePairCorr
  0.31FACDX Fidelity Advisor HealthPairCorr

Related Correlations Analysis

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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.

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