Fidelity Advisor Correlations

FCNIX Fund

USD 53.26 0.78 1.49%

The current 90-days correlation between Fidelity Advisor Sumer and Vanguard Sumer Discretionary is 0.99 (i.e., No risk reduction). 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 0.71 (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.

Check out 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 gross domestic product.

Moving together with Fidelity Mutual Fund

0.74	IP	International Paper	Pair Corr
0.74	SW	Smurfit WestRock plc	Pair Corr
0.85	DRVN	Driven Brands Holdings	Pair Corr
0.74	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.91	FLUT	Flutter Entertainment plc	Pair Corr
0.86	GEF	Greif Bros Fiscal Year End 4th of December 2024	Pair Corr
0.66	KAR	KAR Auction Services	Pair Corr
0.88	KRT	Karat Packaging	Pair Corr

Moving against Fidelity Mutual Fund

0.81	EBET	Ebet Inc	Pair Corr
0.79	WPRT	Westport Fuel Systems	Pair Corr
0.61	TFRFF	Tefron	Pair Corr
0.54	EFOI	Energy Focu	Pair Corr
0.47	EXTO	Almacenes xito SA Potential Growth	Pair Corr
0.46	EVKG	Ever Glory Internati	Pair Corr
0.75	DSS	DSS Inc	Pair Corr
0.69	AVY	Avery Dennison Corp	Pair Corr
0.69	MYE	Myers Industries	Pair Corr
0.66	MMA	Alta Global Group	Pair Corr
0.61	IVP	Inspire Veterinary	Pair Corr
0.55	MRM	Medirom Healthcare	Pair Corr
0.51	FXLV	F45 Training Holdings	Pair Corr
0.47	CYD	China Yuchai Interna	Pair Corr
0.37	FRZA	Forza X1	Pair Corr

Related Correlations Analysis

	VCDAX	FSRPX	FDLSX	FSHOX	FCNIX	FCNAX	FCECX	FACPX	FIJZX
VCDAX		0.89	0.92	0.75	0.99	0.99	0.99	0.99	0.95	VCDAX
FSRPX	0.89		0.91	0.92	0.91	0.91	0.91	0.91	0.95	FSRPX
FDLSX	0.92	0.91		0.84	0.89	0.89	0.89	0.89	0.92	FDLSX
FSHOX	0.75	0.92	0.84		0.78	0.78	0.78	0.78	0.82	FSHOX
FCNIX	0.99	0.91	0.89	0.78		1.0	1.0	1.0	0.96	FCNIX
FCNAX	0.99	0.91	0.89	0.78	1.0		1.0	1.0	0.96	FCNAX
FCECX	0.99	0.91	0.89	0.78	1.0	1.0		1.0	0.96	FCECX
FACPX	0.99	0.91	0.89	0.78	1.0	1.0	1.0		0.96	FACPX
FIJZX	0.95	0.95	0.92	0.82	0.96	0.96	0.96	0.96		FIJZX
	VCDAX	FSRPX	FDLSX	FSHOX	FCNIX	FCNAX	FCECX	FACPX	FIJZX

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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
VCDAX	0.90	0.08	0.08	0.17	0.86	(1.01)	2.13	(1.59)	4.70
FSRPX	0.68	0.09	(0.02)	(1.15)	0.73	(0.75)	1.38	(1.37)	3.28
FDLSX	0.64	0.23	0.17	(4.41)	0.43	(0.76)	1.42	(1.08)	3.79
FSHOX	0.79	0.11	0.04	0.70	0.76	(0.90)	1.96	(1.58)	5.50
FCNIX	0.89	0.05	0.05	0.15	0.90	(0.97)	2.00	(1.82)	4.60
FCNAX	0.89	0.05	0.05	0.15	0.90	(0.97)	2.01	(1.80)	4.64
FCECX	0.89	0.05	0.05	0.14	0.91	(1.00)	1.99	(1.82)	4.62
FACPX	0.89	0.05	0.05	0.15	0.90	(0.97)	2.01	(1.83)	4.63
FIJZX	0.91	0.20	0.07	(0.81)	0.89	(1.01)	2.01	(1.81)	4.61

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