Fidelity Advisor Correlations

Mutual Funds USA . 
Fund . Fidelity Advisor Freedom
FFFYX Fund  USD 13.48  0.07  0.52%   
The current 90-days correlation between Fidelity Advisor Freedom and Blackrock Sm Cap is 0.73 (i.e., 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

Poor diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.75 (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 manufacturing.

Moving together with Fidelity Mutual Fund

  0.66FPTKX Fidelity Freedom 2015PairCorr
  0.82FPURX Fidelity PuritanPairCorr
  0.82FPUKX Fidelity PuritanPairCorr
  0.84FQIFX Fidelity Freedom IndexPairCorr
  0.9FQIPX Fidelity Freedom IndexPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.86FRAGX Aggressive GrowthPairCorr
  0.88FRGAX Growth Allocation IndexPairCorr
  0.98FRLPX Fidelity Freedom IndexPairCorr
  0.97FAASX Fidelity Asset ManagerPairCorr
  0.97FAAIX Fidelity Asset ManagerPairCorr
  0.83FABLX Fidelity Advisor BalancedPairCorr
  0.83FABCX Fidelity Advisor BalancedPairCorr
  0.63FACVX Fidelity ConvertiblePairCorr
  0.64FACPX Fidelity Advisor SumerPairCorr
  0.86FACNX Fidelity CanadaPairCorr
  0.79FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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