FIDELITY ADVISOR Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Strategic
FADMX Fund  USD 12.28  0.07  0.57%   
Low or negative correlation with other holdings can meaningfully reduce portfolio drawdowns during market stress. Current 90-days correlation between Fidelity Advisor and Fidelity Advisor International is 0.87 (i.e., Very poor diversification).

Market Correlation Context: FIDELITY ADVISOR

Very poor diversification
For the present investment horizon, the measured correlation between FIDELITY ADVISOR and Dow Jones stands at 0.85, or Very poor diversification. The overlap area shows the portion of risk diversified away by holding both instruments together.
  
Portfolio construction depends on how individual positions interact with the broader allocation. The diversification view provides additional analytical depth. Sector and industry overlap across positions affects concentration risk. Broader economic conditions can influence Fidelity Advisor Strategic's mutual fund valuation - related indicators include signals in metropolitan statistical area.

Moving together with FIDELITY ADVISOR Mutual Fund

  0.63PONAX PIMCO IncomePairCorr
  0.7PIPNX PIMCO IncomePairCorr
  0.64PONRX PIMCO IncomePairCorr
  0.72PONPX PIMCO Incme FundPairCorr
  0.66PIINX PIMCO IncomePairCorr
  0.72PIMIX PIMCO IncomePairCorr
  0.84LBNDX Lord Abbett BondPairCorr
  0.99FSTAX Fidelity AdvisorPairCorr
  1.0FSRIX Fidelity AdvisorPairCorr
  0.79PFN PIMCO Income StrategyPairCorr
  0.68XDSMX Dreyfus StrategicPairCorr
  0.92FWWMX American Funds WashingtonPairCorr
  0.88SDLAX Siit Dynamic AssetPairCorr
  0.74MSFT MicrosoftPairCorr
  0.71DIS Walt Disney Earnings Call This WeekPairCorr
  0.74BAC Bank of AmericaPairCorr
  0.68CAT CaterpillarPairCorr
  0.73BA BoeingPairCorr

Moving Against FIDELITY ADVISOR Mutual Fund

  0.67T ATT IncPairCorr
  0.48JNJ Johnson Johnson Sell-off TrendPairCorr
  0.39PFE Pfizer IncPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

Return momentum in FIDELITY ADVISOR Mutual Fund is more useful when tested against peer-relative fundamentals and risk. Without risk-adjusted context, short-term returns may appear stronger than the volatility required to achieve them would suggest. These indicators are quantitative in nature and measure volatility and risk-adjusted expected returns across different positions.

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