Fidelity Advisor Correlations

FSRCX Fund

USD 11.53 0.05 0.44%

The current 90-days correlation between Fidelity Advisor Str and Virtus Seix Government is 0.3 (i.e., Weak 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

Weak diversification

The correlation between Fidelity Advisor Strategic and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Strategic 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 Strategic. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

0.71	PONAX	Pimco Income	Pair Corr
0.66	PONCX	Pimco Income	Pair Corr
0.64	PIPNX	Pimco Income	Pair Corr
0.63	PONRX	Pimco Income	Pair Corr
0.64	PONPX	Pimco Incme Fund	Pair Corr
0.84	FSTAX	Fidelity Advisor Str	Pair Corr
0.82	FSRIX	Fidelity Advisor Str	Pair Corr
0.64	VZ	Verizon Communications Aggressive Push	Pair Corr
0.65	DD	Dupont De Nemours	Pair Corr
0.68	HD	Home Depot	Pair Corr

Related Correlations Analysis

	SSAGX	PCMNX	LOISX	BBINX	ATOAX	AUNTX	FCSCX
SSAGX		0.05	0.11	0.05	0.98	0.1	0.98	SSAGX
PCMNX	0.05		0.98	0.99	-0.04	0.7	0.13	PCMNX
LOISX	0.11	0.98		0.99	0.03	0.74	0.2	LOISX
BBINX	0.05	0.99	0.99		-0.03	0.68	0.13	BBINX
ATOAX	0.98	-0.04	0.03	-0.03		0.05	0.96	ATOAX
AUNTX	0.1	0.7	0.74	0.68	0.05		0.16	AUNTX
FCSCX	0.98	0.13	0.2	0.13	0.96	0.16		FCSCX
	SSAGX	PCMNX	LOISX	BBINX	ATOAX	AUNTX	FCSCX

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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

BBINX	+ 0.99	PCMNX
BBINX	+ 0.99	LOISX
ATOAX	+ 0.98	SSAGX
FCSCX	+ 0.98	SSAGX
LOISX	+ 0.98	PCMNX
FCSCX	+ 0.96	ATOAX

High negative correlations

ATOAX	- 0.04	PCMNX
ATOAX	- 0.03	BBINX

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
SSAGX	0.04	0.00	(0.75)	2.04	0.00	(0.17)	0.10	(0.10)	0.51
PCMNX	0.14	0.01	(0.24)	0.83	0.18	(0.17)	0.33	(0.33)	1.24
LOISX	0.16	0.00	(0.22)	0.00	0.16	(0.21)	0.30	(0.30)	1.28
BBINX	0.14	0.01	(0.24)	(2.16)	0.15	(0.21)	0.30	(0.29)	1.27
ATOAX	0.02	0.00	0.00	1.64	0.00	0.00	0.00	0.00	0.30
AUNTX	0.12	0.01	(0.31)	0.46	0.06	(0.17)	0.28	(0.19)	1.32
FCSCX	0.05	0.00	(0.59)	0.15	0.00	(0.22)	0.13	(0.13)	0.67

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