Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Freedom
FFFIX Fund  USD 14.24  0.08  0.56%   
The current 90-days correlation between Fidelity Advisor Freedom and Fidelity Freedom 2050 is 1.0 (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 Freedom and DJI is 0.74 (i.e., Poor 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.64FPTKX Fidelity Freedom 2015PairCorr
  0.84FPURX Fidelity PuritanPairCorr
  0.84FPUKX Fidelity PuritanPairCorr
  0.83FQIFX Fidelity Freedom IndexPairCorr
  0.9FQIPX Fidelity Freedom IndexPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.87FRAGX Aggressive GrowthPairCorr
  0.89FRGAX Growth Allocation IndexPairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  0.98FAASX Fidelity Asset ManagerPairCorr
  0.98FAAIX Fidelity Asset ManagerPairCorr
  0.84FABLX Fidelity Advisor BalancedPairCorr
  0.84FABCX Fidelity Advisor BalancedPairCorr
  0.66FACVX Fidelity ConvertiblePairCorr
  0.67FACPX Fidelity Advisor SumerPairCorr
  0.87FACNX Fidelity CanadaPairCorr
  0.81FACGX Fidelity Advisor GrowthPairCorr

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   
FFTWX
+ 0.95
FFVFX
FFTWX
+ 0.93
FFTHX
FFTHX
+ 0.88
FFFHX
FFVFX
+ 0.76
FFTHX
FFTWX
+ 0.73
FFFHX
FFVFX
+ 0.53
FFFHX
  
High negative correlations   
FFTWX
- 0.0
FFFVX
FFVFX
- 0.0
FFFVX
FFTHX
- 0.0
FFFVX
FFFVX
- 0.0
FFFHX

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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