Fidelity Advisor Correlations

FFVIX Fund

USD 11.72 0.01 0.09%

The current 90-days correlation between Fidelity Advisor Freedom and Fidelity Freedom 2015 is 0.12 (i.e., Average 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 Freedom and DJI is 0.2 (i.e., Modest 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

0.7	FPURX	Fidelity Puritan	Pair Corr
0.94	FRBHX	Fidelity Freedom 2070	Pair Corr
0.94	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.94	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.96	FRBUX	Fidelity Freedom Index	Pair Corr
0.95	FRBYX	Fidelity Freedom Blend	Pair Corr
0.98	FRAMX	Fidelity Income Repl	Pair Corr
0.95	FRCFX	Fidelity Freedom Blend	Pair Corr
0.95	FRCKX	Fidelity Freedom Blend	Pair Corr
0.85	FRCLX	Fidelity Freedom Blend	Pair Corr
0.95	FRCNX	Fidelity Freedom Blend	Pair Corr
0.94	FRCQX	Fidelity Sustainable	Pair Corr
0.95	FRCWX	Fidelity Sustainable	Pair Corr
0.94	FRCYX	Fidelity Sustainable	Pair Corr
0.94	FRDCX	Fidelity Sustainable	Pair Corr
0.86	FRDDX	Fidelity Sustainable	Pair Corr
0.94	FRDEX	Fidelity Sustainable	Pair Corr

Related Correlations Analysis

	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRBDX	FRBEX
FPTKX		0.27	0.7	0.55	0.99	0.97	0.48	0.96	0.96	0.96	FPTKX
FPURX	0.27		0.78	0.58	0.32	0.28	0.01	0.23	0.19	0.2	FPURX
FPUKX	0.7	0.78		0.85	0.69	0.63	0.06	0.6	0.6	0.6	FPUKX
FPXTX	0.55	0.58	0.85		0.5	0.44	-0.25	0.42	0.43	0.43	FPXTX
FQIFX	0.99	0.32	0.69	0.5		0.98	0.56	0.96	0.95	0.95	FQIFX
FQIPX	0.97	0.28	0.63	0.44	0.98		0.55	0.99	0.99	0.99	FQIPX
FQITX	0.48	0.01	0.06	-0.25	0.56	0.55		0.51	0.49	0.49	FQITX
FQLSX	0.96	0.23	0.6	0.42	0.96	0.99	0.51		1.0	1.0	FQLSX
FRBDX	0.96	0.19	0.6	0.43	0.95	0.99	0.49	1.0		1.0	FRBDX
FRBEX	0.96	0.2	0.6	0.43	0.95	0.99	0.49	1.0	1.0		FRBEX
	FPTKX	FPURX	FPUKX	FPXTX	FQIFX	FQIPX	FQITX	FQLSX	FRBDX	FRBEX

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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

FRBDX	+ 1.0	FQLSX
FRBEX	+ 1.0	FQLSX
FRBEX	+ 1.0	FRBDX
FQIFX	+ 0.99	FPTKX
FQLSX	+ 0.99	FQIPX
FRBDX	+ 0.99	FQIPX

High negative correlations

FQITX

- 0.25

FPXTX

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
FPTKX	0.22	0.00	(0.14)	0.07	0.23	(0.25)	0.48	(0.48)	1.37
FPURX	0.45	0.05	0.01	0.20	0.49	(0.45)	1.27	(1.10)	3.31
FPUKX	0.47	0.04	0.00	0.18	0.51	(0.50)	1.31	(1.10)	3.27
FPXTX	0.07	0.01	(0.47)	(0.98)	0.00	(0.13)	0.19	(0.09)	0.47
FQIFX	0.30	(0.01)	(0.10)	0.05	0.38	(0.31)	0.63	(0.66)	1.72
FQIPX	0.51	(0.01)	(0.03)	0.06	0.77	(0.48)	1.00	(1.12)	2.86
FQITX	0.72	(0.07)	(0.07)	0.00	1.05	(0.69)	1.09	(1.50)	5.11
FQLSX	0.53	(0.01)	(0.02)	0.06	0.82	(0.50)	1.04	(1.17)	3.05
FRBDX	0.54	0.00	(0.01)	0.07	0.84	(0.50)	1.05	(1.21)	3.05
FRBEX	0.54	0.00	(0.01)	0.07	0.86	(0.50)	1.06	(1.21)	3.10

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