Fidelity Advisor Correlations

Mutual Funds USA . 
Fund . Fidelity Advisor Freedom
FDGLX Fund  USD 15.95  0.09  0.57%   
The current 90-days correlation between Fidelity Advisor Freedom and Gamco International Growth is 0.39 (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 0.9 (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 signals in industry.

Moving together with Fidelity Mutual Fund

  1.0FPTKX Fidelity Freedom 2015PairCorr
  0.95FPURX Fidelity PuritanPairCorr
  0.95FPUKX Fidelity PuritanPairCorr
  0.88FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.96FQIPX Fidelity Freedom IndexPairCorr
  0.96FQITX Fidelity Salem StreetPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.96FRBDX Fidelity Freedom 2070PairCorr
  0.96FRBEX Fidelity Freedom 2070PairCorr
  0.96FRBHX Fidelity Freedom 2070PairCorr
  0.95FRBJX Fidelity Advisor FreedomPairCorr
  0.95FRBLX Fidelity Advisor FreedomPairCorr
  0.95FRBNX Fidelity Advisor FreedomPairCorr
  0.96FRBOX Fidelity Advisor FreedomPairCorr
  0.96FRBPX Fidelity Advisor FreedomPairCorr
  0.96FRBQX Fidelity Flex FreedomPairCorr
  0.92FRBUX Fidelity Freedom IndexPairCorr
  0.92FRBVX Fidelity Freedom IndexPairCorr
  0.92FRBWX Fidelity Freedom IndexPairCorr
  0.95FRBYX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.95FRCFX Fidelity Freedom BlendPairCorr
  0.95FRCHX Fidelity Freedom BlendPairCorr
  0.97FRCJX Fidelity Freedom BlendPairCorr
  0.95FRCKX Fidelity Freedom BlendPairCorr
  0.96FRCLX Fidelity Freedom BlendPairCorr
  0.96FRCNX Fidelity Freedom BlendPairCorr
  0.93FRCQX Fidelity SustainablePairCorr
  0.93FRCRX Fidelity SustainablePairCorr
  0.93FRCVX Fidelity SustainablePairCorr
  0.93FRCWX Fidelity SustainablePairCorr
  0.93FRCYX Fidelity SustainablePairCorr
  0.93FRDCX Fidelity SustainablePairCorr
  0.93FRDDX Fidelity SustainablePairCorr
  0.95FRGAX Growth Allocation IndexPairCorr
  0.86FRIFX Fidelity Real EstatePairCorr

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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