Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Freedom
FAXDX Fund  USD 15.93  0.17  1.06%   
The current 90-days correlation between Fidelity Advisor Freedom and Transamerica Financial Life is 0.3 (i.e., Weak 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

Almost no diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.94 (i.e., Almost no 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 various price indices.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.84FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  0.99FRBWX Fidelity Freedom IndexPairCorr
  1.0FRCNX Fidelity Freedom BlendPairCorr
  0.64FRESX Fidelity Real EstatePairCorr
  0.98FRIMX Fidelity Income ReplPairCorr
  0.88FRIOX Fidelity Real EstatePairCorr
  0.98FRQIX Fidelity Income ReplPairCorr
  1.0FAAIX Fidelity Asset ManagerPairCorr
  0.88FADCX Fidelity Advisor DivPairCorr
  0.85FAFSX Fidelity Advisor FinPairCorr
  0.85FAFDX Fidelity Advisor FinPairCorr
  0.98FAGIX Fidelity Capital IncomePairCorr
  0.95FTF Franklin TempletonPairCorr
  0.87FSAGX Gold Portfolio GoldPairCorr
  0.96FSATX Fidelity Asset ManagerPairCorr
  0.91FSAVX Automotive PortfolioPairCorr
  0.92FSAWX Fidelity Sai ConvertiblePairCorr
  0.83FSAZX Fidelity Arizona MunPairCorr
  1.0FAMRX Fidelity Asset ManagerPairCorr
  0.92FSCHX Chemicals PortfolioPairCorr
  0.94FSCIX Fidelity Advisor SmallPairCorr
  0.96FSCNX Fidelity Asset ManagerPairCorr
  0.88FSCOX Fidelity InternationalPairCorr
  0.83FSCPX Consumer DiscretionaryPairCorr
  0.92FSCZX Fidelity Stock SelectorPairCorr
  0.92FSDAX Defense And AerospacePairCorr
  0.89FAPHX Fidelity Summer StreetPairCorr
  0.82FAPGX Fidelity Sustainable LowPairCorr
  0.97FSELX Fidelity Select SemiPairCorr
  0.77FSENX Fidelity Select PortPairCorr
  0.85FARMX Strategic AdvisersPairCorr
  0.87FSEAX Fidelity Emerging AsiaPairCorr
  0.93FSEBX Fidelity Advisor SusPairCorr
  0.99FASIX Fidelity Asset ManagerPairCorr
  0.78FSHBX Fidelity Short TermPairCorr

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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