Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Freedom
FAFFX Fund  USD 19.21  0.20  1.03%   
The current 90-days correlation between Fidelity Advisor Freedom and Needham Aggressive Growth is -0.06 (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

Very poor diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.89 (i.e., Very 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

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.93FPURX Fidelity PuritanPairCorr
  0.93FPUKX Fidelity PuritanPairCorr
  0.88FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.97FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  1.0FRBDX Fidelity Freedom 2070PairCorr
  1.0FRBEX Fidelity Freedom 2070PairCorr
  1.0FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBLX Fidelity Advisor FreedomPairCorr
  1.0FRBOX Fidelity Advisor FreedomPairCorr
  1.0FRBPX Fidelity Advisor FreedomPairCorr
  1.0FRBQX Fidelity Flex FreedomPairCorr
  0.98FRBVX Fidelity Freedom IndexPairCorr
  0.99FRBYX Fidelity Freedom BlendPairCorr
  0.99FRBZX Fidelity Freedom BlendPairCorr
  0.94FRAGX Aggressive GrowthPairCorr
  0.98FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  0.99FRCFX Fidelity Freedom BlendPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCKX Fidelity Freedom BlendPairCorr
  1.0FRCLX Fidelity Freedom BlendPairCorr
  0.98FRCQX Fidelity SustainablePairCorr
  0.98FRCRX Fidelity SustainablePairCorr
  0.98FRCWX Fidelity SustainablePairCorr
  0.98FRCYX Fidelity SustainablePairCorr
  0.98FRDCX Fidelity SustainablePairCorr
  0.98FRDDX Fidelity SustainablePairCorr
  0.94FRGAX Growth Allocation IndexPairCorr
  0.67FRESX Fidelity Real EstatePairCorr
  0.86FRIFX Fidelity Real EstatePairCorr
  0.95FRIMX Fidelity Income ReplPairCorr
  0.89FRINX Fidelity Real EstatePairCorr
  0.85FRIOX Fidelity Real EstatePairCorr
  0.88FRIQX Fidelity Real EstatePairCorr
  0.95FRHMX Fidelity Managed RetPairCorr
  0.95FRKMX Fidelity Managed RetPairCorr

Related Correlations Analysis


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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