Fidelity Advisor Correlations

FAFFX Fund

USD 17.35 0.06 0.35%

The current 90-days correlation between Fidelity Advisor Freedom and Transamerica Intermediate Muni is -0.1 (i.e., Good 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 0.74 (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 census.

Moving together with Fidelity Mutual Fund

0.7	FPTKX	Fidelity Freedom 2015	Pair Corr
0.75	FPURX	Fidelity Puritan	Pair Corr
0.75	FPUKX	Fidelity Puritan	Pair Corr
0.78	FQIFX	Fidelity Freedom Index	Pair Corr
0.88	FQIPX	Fidelity Freedom Index	Pair Corr
0.99	FQLSX	Fidelity Flex Freedom	Pair Corr
0.85	FRAGX	Aggressive Growth	Pair Corr
0.87	FRGAX	Growth Allocation Index	Pair Corr
0.88	FRLPX	Fidelity Freedom Index	Pair Corr
0.98	FAASX	Fidelity Asset Manager	Pair Corr
0.88	FAAIX	Fidelity Asset Manager	Pair Corr
0.82	FABLX	Fidelity Advisor Balanced	Pair Corr
0.82	FABCX	Fidelity Advisor Balanced	Pair Corr
0.65	FACPX	Fidelity Advisor Sumer	Pair Corr
0.87	FACNX	Fidelity Canada	Pair Corr
0.77	FACGX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	TIMTX	OKMUX	MSTPX	BSNSX	FHYVX	BIDPX
TIMTX		0.93	0.97	0.97	0.9	1.0	TIMTX
OKMUX	0.93		0.88	0.89	0.72	0.94	OKMUX
MSTPX	0.97	0.88		0.98	0.92	0.97	MSTPX
BSNSX	0.97	0.89	0.98		0.9	0.98	BSNSX
FHYVX	0.9	0.72	0.92	0.9		0.89	FHYVX
BIDPX	1.0	0.94	0.97	0.98	0.89		BIDPX
	TIMTX	OKMUX	MSTPX	BSNSX	FHYVX	BIDPX

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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
TIMTX	0.14	(0.01)	(0.33)	(0.03)	0.21	(0.21)	0.37	(0.28)	1.40
OKMUX	0.14	(0.02)	0.00	(0.24)	0.00	0.00	0.29	(0.47)	1.52
MSTPX	0.11	0.00	(0.32)	(0.02)	0.16	(0.17)	0.30	(0.30)	1.10
BSNSX	0.08	(0.01)	(0.40)	(0.06)	0.10	(0.14)	0.19	(0.29)	0.88
FHYVX	0.16	0.00	(0.25)	0.20	0.22	(0.25)	0.34	(0.44)	1.88
BIDPX	0.14	(0.01)	(0.35)	(0.10)	0.22	(0.18)	0.27	(0.45)	1.36

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Fidelity Advisor Correlations

Fidelity Advisor Correlation With Market

Poor diversification

Moving together with Fidelity Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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