Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Strategic
FSTAX Fund  USD 11.98  0.01  0.08%   
The current 90-days correlation between Fidelity Advisor Str and Multi Manager High Yield is 0.52 (i.e., Very 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

Very weak diversification

The correlation between Fidelity Advisor Strategic and DJI is 0.54 (i.e., Very 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 nation.

Moving together with Fidelity Mutual Fund

  0.72FPTKX Fidelity Freedom 2015PairCorr
  0.65FPURX Fidelity PuritanPairCorr
  0.64FPUKX Fidelity PuritanPairCorr
  0.72FQIFX Fidelity Freedom IndexPairCorr
  0.7FQIPX Fidelity Freedom IndexPairCorr
  0.84FQITX Fidelity Salem StreetPairCorr
  0.89FQLSX Fidelity Flex FreedomPairCorr
  0.96FRBDX Fidelity Freedom 2070PairCorr
  0.96FRBEX Fidelity Freedom 2070PairCorr
  0.96FRBHX Fidelity Freedom 2070PairCorr
  0.68FRBJX Fidelity Advisor FreedomPairCorr
  0.97FRBKX Fidelity Advisor FreedomPairCorr
  0.69FRBLX Fidelity Advisor FreedomPairCorr
  0.68FRBNX Fidelity Advisor FreedomPairCorr
  0.96FRBOX Fidelity Advisor FreedomPairCorr
  0.96FRBPX Fidelity Advisor FreedomPairCorr
  0.96FRBQX Fidelity Flex FreedomPairCorr
  0.92FRBUX Fidelity Freedom IndexPairCorr
  0.96FRBVX Fidelity Freedom IndexPairCorr
  0.96FRBWX Fidelity Freedom IndexPairCorr
  0.96FRBYX Fidelity Freedom BlendPairCorr
  0.92FRBZX Fidelity Freedom BlendPairCorr
  0.87FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.71FRASX Fidelity Income ReplPairCorr
  0.96FRCFX Fidelity Freedom BlendPairCorr
  0.96FRCHX Fidelity Freedom BlendPairCorr
  0.66FRCKX Fidelity Freedom BlendPairCorr
  0.96FRCLX Fidelity Freedom BlendPairCorr
  0.97FRCNX Fidelity Freedom BlendPairCorr
  0.96FRCPX Fidelity Freedom BlendPairCorr
  0.96FRCQX Fidelity SustainablePairCorr
  0.96FRCRX Fidelity SustainablePairCorr
  0.96FRCVX Fidelity SustainablePairCorr
  0.96FRCWX Fidelity SustainablePairCorr
  0.62FRCYX Fidelity SustainablePairCorr
  0.96FRDCX Fidelity SustainablePairCorr
  0.96FRDDX Fidelity SustainablePairCorr
  0.62FRDEX Fidelity SustainablePairCorr

Related Correlations Analysis


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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