Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Emerging
FEATX Fund  USD 44.32  0.02  0.05%   
The current 90-days correlation between Fidelity Advisor Emerging and Fidelity Advisor Emerging is 0.83 (i.e., Very poor 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

Modest diversification

The correlation between Fidelity Advisor Emerging and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Emerging 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 Emerging. 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 estimate.

Moving together with Fidelity Mutual Fund

  0.82FPTKX Fidelity Freedom 2015PairCorr
  0.82FQIFX Fidelity Freedom IndexPairCorr
  0.64FQIPX Fidelity Freedom IndexPairCorr
  0.72FQITX Fidelity Salem StreetPairCorr
  0.81FQLSX Fidelity Flex FreedomPairCorr
  0.77FRAMX Fidelity Income ReplPairCorr
  0.77FRASX Fidelity Income ReplPairCorr
  0.76FRESX Fidelity Real EstatePairCorr
  0.75FRIFX Fidelity Real EstatePairCorr
  0.76FRIMX Fidelity Income ReplPairCorr
  0.75FRINX Fidelity Real EstatePairCorr
  0.76FRIOX Fidelity Real EstatePairCorr
  0.75FRIQX Fidelity Real EstatePairCorr
  0.75FRHMX Fidelity Managed RetPairCorr
  0.76FRKMX Fidelity Managed RetPairCorr
  0.75FRIRX Fidelity Real EstatePairCorr
  0.64FRLPX Fidelity Freedom IndexPairCorr
  0.76FRQHX Fidelity Managed RetPairCorr
  0.76FRQIX Fidelity Income ReplPairCorr
  0.76FRQKX Fidelity Managed RetPairCorr
  0.77FRQAX Fidelity Income ReplPairCorr
  0.83FAASX Fidelity Asset ManagerPairCorr
  0.83FAAIX Fidelity Asset ManagerPairCorr
  0.81FACTX Fidelity Advisor HealthPairCorr
  0.7FACNX Fidelity CanadaPairCorr
  0.78FACFX Fidelity Advisor FreedomPairCorr
  0.81FACDX Fidelity Advisor HealthPairCorr
  0.63FADTX Fidelity Advisor TecPairCorr

Moving against Fidelity Mutual Fund

  0.72FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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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   
FERIX
+ 1.0
FERCX
FERCX
+ 0.78
FTMKX
FERIX
+ 0.77
FTMKX
FAFSX
+ 0.59
FAGNX
FAFSX
+ 0.29
FERIX
FAFSX
+ 0.28
FERCX
  
High negative correlations   
FAFSX
- 0.19
FTMKX
FAGNX
- 0.04
FERIX
FAGNX
- 0.04
FERCX
FAGNX
- 0.03
FTMKX

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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