| FCNAX Fund | | | USD 49.00 0.07 0.14% |
The current 90-days correlation between Fidelity Advisor Sumer and Construction And Housing is 0.17 (i.e., Average 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 Sumer and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Sumer and DJI in the same portfolio, assuming nothing else is changed.
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Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Advisor Sumer. 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 nation.