Fidelity Advisor Correlations

FAGCX Fund

USD 196.54 0.54 0.28%

The current 90-days correlation between Fidelity Advisor Growth and General Money Market is -0.14 (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 Growth and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Growth 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 Growth. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

0.94	FPURX	Fidelity Puritan	Pair Corr
0.94	FPUKX	Fidelity Puritan	Pair Corr
0.82	FQIPX	Fidelity Freedom Index	Pair Corr
0.82	FQLSX	Fidelity Flex Freedom	Pair Corr
0.83	FRGAX	Growth Allocation Index	Pair Corr
0.81	FRLPX	Fidelity Freedom Index	Pair Corr
0.78	FAASX	Fidelity Asset Manager	Pair Corr
0.86	FABLX	Fidelity Advisor Balanced	Pair Corr
0.85	FABCX	Fidelity Advisor Balanced	Pair Corr
1.0	FACGX	Fidelity Advisor Growth	Pair Corr
0.96	FADTX	Fidelity Advisor Tec	Pair Corr
0.94	FAEGX	Fidelity Advisor Equity	Pair Corr
1.0	FAGOX	Fidelity Advisor Growth	Pair Corr
0.95	FAGIX	Fidelity Capital Income	Pair Corr
0.96	FAGAX	Fidelity Advisor Growth	Pair Corr
0.95	FAHCX	Fidelity Advisor High	Pair Corr
0.86	FAIOX	Fidelity Advisor Balanced	Pair Corr
0.86	FAIGX	Fidelity Advisor Balanced	Pair Corr
0.99	FALIX	Fidelity Advisor Large	Pair Corr
0.73	FSAAX	Fidelity Asset Manager	Pair Corr
0.62	FAMHX	Fidelity Municipal Income	Pair Corr
0.79	FSAHX	Fidelity Short Duration	Pair Corr

Moving against Fidelity Mutual Fund

0.54	FQITX	Fidelity Salem Street	Pair Corr
0.45	FAERX	Fidelity Advisor Overseas	Pair Corr
0.43	FSCOX	Fidelity International	Pair Corr
0.33	FANCX	Fidelity Short Term	Pair Corr

Related Correlations Analysis

	GMBXX	PFCXX	HEWXX	POIXX	AEYXX	JRSXX	GABXX
GMBXX		0.45	0.42	0.97	0.0	0.45	0.94	GMBXX
PFCXX	0.45		0.93	0.46	0.0	1.0	0.48	PFCXX
HEWXX	0.42	0.93		0.43	0.0	0.93	0.45	HEWXX
POIXX	0.97	0.46	0.43		0.0	0.46	0.97	POIXX
AEYXX	0.0	0.0	0.0	0.0		0.0	0.0	AEYXX
JRSXX	0.45	1.0	0.93	0.46	0.0		0.48	JRSXX
GABXX	0.94	0.48	0.45	0.97	0.0	0.48		GABXX
	GMBXX	PFCXX	HEWXX	POIXX	AEYXX	JRSXX	GABXX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

JRSXX	+ 1.0	PFCXX
POIXX	+ 0.97	GMBXX
GABXX	+ 0.97	POIXX
GABXX	+ 0.94	GMBXX
HEWXX	+ 0.93	PFCXX
JRSXX	+ 0.93	HEWXX

High negative correlations

GABXX	- 0.0	AEYXX
JRSXX	- 0.0	AEYXX
AEYXX	- 0.0	POIXX
AEYXX	- 0.0	HEWXX
AEYXX	- 0.0	PFCXX
AEYXX	- 0.0	GMBXX

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	Treynor Ratio	Maximum Drawdown
GMBXX	0.03	0.01	(0.38)	1.01
PFCXX	0.03	0.01	(0.12)	1.01
HEWXX	0.03	0.00	0.42	1.01
POIXX	0.03	0.01	(3.54)	1.01
AEYXX	0.00	0.00	0.00	0.00
JRSXX	0.03	0.01	(0.12)	1.01
GABXX	0.03	0.00	0.84	1.01

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC