Fidelity Advisor Correlations

FSCIX Fund

USD 37.53 0.81 2.11%

The current 90-days correlation between Fidelity Advisor Small and Jpmorgan Small Cap is 0.03 (i.e., Significant 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 0.91 (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 gross domestic product.

Moving together with FIDELITY Mutual Fund

0.9	FPTKX	Fidelity Freedom 2015	Pair Corr
0.92	FPURX	Fidelity Puritan	Pair Corr
0.92	FPUKX	Fidelity Puritan	Pair Corr
0.78	FPXTX	Fidelity Pennsylvania	Pair Corr
0.9	FRBYX	Fidelity Freedom Blend	Pair Corr
0.93	FRASX	Fidelity Income Repl	Pair Corr
0.88	FRDDX	Fidelity Sustainable	Pair Corr
0.92	FRGAX	Growth Allocation Index	Pair Corr
0.61	FRESX	Fidelity Real Estate	Pair Corr
0.92	FRIMX	Fidelity Income Repl	Pair Corr
0.89	FRINX	Fidelity Real Estate	Pair Corr
0.9	FRIOX	Fidelity Real Estate	Pair Corr
0.92	FRQIX	Fidelity Income Repl	Pair Corr
0.92	FAAIX	Fidelity Asset Manager	Pair Corr
0.86	FACVX	Fidelity Vertible	Pair Corr
0.66	FACTX	Fidelity Advisor Health	Pair Corr
0.87	FACNX	Fidelity Canada	Pair Corr
0.67	FACDX	Fidelity Advisor Health	Pair Corr
0.92	FAGIX	Fidelity Capital Income	Pair Corr
0.89	FTF	Franklin Templeton	Pair Corr
0.89	FAHDX	Fidelity Advisor High	Pair Corr
0.87	FAMKX	Fidelity Advisor Emerging	Pair Corr
0.92	FSAGX	Gold Portfolio Gold	Pair Corr
0.92	FSANX	Fidelity Asset Manager	Pair Corr
0.87	FSATX	Fidelity Asset Manager	Pair Corr
0.9	FSAVX	Automotive Portfolio	Pair Corr
0.88	FSAWX	Fidelity Sai Convertible	Pair Corr
0.89	FAMZX	Fidelity Advisor Sus	Pair Corr
0.92	FAMRX	Fidelity Asset Manager	Pair Corr
0.97	FSCDX	Fidelity Advisor Small	Pair Corr
0.87	FSCHX	Chemicals Portfolio	Pair Corr
0.87	FSCOX	Fidelity International	Pair Corr
0.89	FSCPX	Consumer Discretionary	Pair Corr
0.98	FSCRX	Fidelity Small Cap	Pair Corr
0.84	FSDAX	Defense And Aerospace Potential Growth	Pair Corr

Moving against FIDELITY Mutual Fund

0.75

FAOAX

Fidelity Advisor Overseas

Pair Corr

Related Correlations Analysis

	JMCVX	MDLRX	AAGPX	JDPAX	JMVIX	NTRS	LZIOX	JSIVX	PGSGX
JMCVX		0.95	0.95	0.98	1.0	0.95	0.86	0.98	0.7	JMCVX
MDLRX	0.95		0.93	0.96	0.95	0.94	0.83	0.9	0.73	MDLRX
AAGPX	0.95	0.93		0.94	0.95	0.93	0.86	0.95	0.76	AAGPX
JDPAX	0.98	0.96	0.94		0.98	0.96	0.87	0.96	0.72	JDPAX
JMVIX	1.0	0.95	0.95	0.98		0.95	0.86	0.98	0.7	JMVIX
NTRS	0.95	0.94	0.93	0.96	0.95		0.89	0.95	0.77	NTRS
LZIOX	0.86	0.83	0.86	0.87	0.86	0.89		0.86	0.72	LZIOX
JSIVX	0.98	0.9	0.95	0.96	0.98	0.95	0.86		0.72	JSIVX
PGSGX	0.7	0.73	0.76	0.72	0.7	0.77	0.72	0.72		PGSGX
	JMCVX	MDLRX	AAGPX	JDPAX	JMVIX	NTRS	LZIOX	JSIVX	PGSGX

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
JMCVX	0.74	0.21	0.23	0.36	0.34	(0.85)	1.72	(1.13)	10.77
MDLRX	0.62	0.13	0.10	0.60	0.68	(0.66)	1.28	(1.15)	5.93
AAGPX	0.57	0.02	0.01	0.07	0.59	(0.66)	1.29	(1.01)	3.62
JDPAX	0.74	0.21	0.22	0.51	0.35	(0.84)	1.75	(1.25)	10.50
JMVIX	0.73	0.21	0.22	0.35	0.34	(0.85)	1.75	(1.18)	10.49
NTRS	0.96	0.28	0.18	0.94	0.94	(1.06)	1.97	(1.56)	8.96
LZIOX	0.86	0.11	0.04	0.22	1.87	(0.87)	1.26	(1.24)	21.65
JSIVX	0.75	0.13	0.15	0.20	0.52	(0.87)	2.12	(1.09)	5.48
PGSGX	1.01	0.06	0.01	0.24	1.41	(0.96)	1.74	(2.16)	4.99

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