Fidelity Advisor Correlations

FSCDX Fund

USD 32.39 0.14 0.43%

The current 90-days correlation between Fidelity Advisor Small and Franklin Vertible Securities is 0.82 (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

Almost no diversification

The correlation between Fidelity Advisor Small 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 Small 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 Small. 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 small area income & poverty estimates.

Moving together with Fidelity Mutual Fund

0.77	FPXTX	Fidelity Pennsylvania	Pair Corr
0.94	FRCKX	Fidelity Freedom Blend	Pair Corr
0.9	FAAIX	Fidelity Asset Manager	Pair Corr
0.9	FAGIX	Fidelity Capital Income	Pair Corr
0.9	FTF	Franklin Templeton	Pair Corr
0.88	FSAWX	Fidelity Sai Convertible	Pair Corr
0.9	FAMRX	Fidelity Asset Manager	Pair Corr
0.97	FSCIX	Fidelity Advisor Small	Pair Corr
0.86	FSELX	Fidelity Select Semi	Pair Corr
0.79	FSEBX	Fidelity Advisor Sus	Pair Corr
0.91	FASIX	Fidelity Asset Manager	Pair Corr
0.72	FSLEX	Environment And Alte	Pair Corr
0.8	FSKAX	Fidelity Total Market	Pair Corr
0.82	FSZZX	Fidelity Advisor Sus	Pair Corr
0.98	FCAGX	Fidelity Small Cap	Pair Corr
0.74	FTRNX	Fidelity Trend	Pair Corr
0.93	FCLCX	Fidelity Advisor Ind	Pair Corr
0.93	FCLAX	Fidelity Advisor Ind	Pair Corr
0.92	FCLKX	Fidelity Large Cap	Pair Corr
0.79	FCNTX	Fidelity Contrafund	Pair Corr
0.87	FCPIX	Fidelity Advisor Int	Pair Corr
0.89	FUEMX	Fidelity Flex Servative	Pair Corr
0.99	FCPVX	Fidelity Small Cap	Pair Corr
0.98	FCTGX	Fidelity Small Cap	Pair Corr
0.72	FUMBX	Fidelity Short Term	Pair Corr
0.85	FDAGX	Consumer Staples Por	Pair Corr
0.94	FUSIX	Strategic Advisers	Pair Corr
0.85	FDSSX	Fidelity Stock Selector	Pair Corr
0.9	FFFCX	Fidelity Freedom 2010	Pair Corr
0.9	FFFAX	Fidelity Freedom Income	Pair Corr
0.92	FFSFX	Fidelity Freedom 2065	Pair Corr
0.93	FGDIX	Fidelity Advisor Gold Steady Growth	Pair Corr
0.9	FGRTX	Fidelity Mega Cap	Pair Corr
0.89	FGWMX	Fidelity New Markets	Pair Corr
0.88	FGVMX	Fidelity New Markets	Pair Corr
0.91	FHAUX	Fidelity Freedom Blend	Pair Corr
0.91	FHATX	Fidelity Freedom Blend	Pair Corr

Moving against Fidelity Mutual Fund

0.64

FSUTX

Utilities Portfolio

Pair Corr

Related Correlations Analysis

	GCV	XAVKX	HACSX	FISCX
GCV		0.8	0.93	0.75	GCV
XAVKX	0.8		0.71	0.53	XAVKX
HACSX	0.93	0.71		0.85	HACSX
FISCX	0.75	0.53	0.85		FISCX
	GCV	XAVKX	HACSX	FISCX

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
GCV	0.75	0.05	0.01	0.18	0.86	(0.82)	1.99	(1.44)	4.09
XAVKX	0.59	(0.02)	(0.09)	(0.05)	0.75	(0.73)	1.13	(1.55)	3.76
HACSX	0.74	0.02	0.00	0.09	0.91	(0.78)	1.68	(1.57)	3.96
FISCX	0.49	0.05	(0.02)	0.43	0.51	(0.55)	0.99	(1.00)	2.54

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