Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Sumer
FACPX Fund  USD 41.84  0.27  0.65%   
The current 90-days correlation between Fidelity Advisor Sumer and Multi Asset Growth Strategy is 0.71 (i.e., 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

Very poor diversification

The correlation between Fidelity Advisor Sumer and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Sumer 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 Sumer. 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 american community survey.

Moving together with Fidelity Mutual Fund

  0.71IP International PaperPairCorr
  0.64OI O I GlassPairCorr
  0.82SW Smurfit WestRock plcPairCorr
  0.61DRVN Driven Brands HoldingsPairCorr
  0.66F-PB Ford MotorPairCorr
  0.77F-PC Ford MotorPairCorr
  0.72F-PD F PDPairCorr
  0.68AVY Avery Dennison Corp Earnings Call This WeekPairCorr
  0.61HNI HNI Corp Earnings Call This WeekPairCorr
  0.67MED MEDIFAST INCPairCorr
  0.84MLR Miller IndustriesPairCorr
  0.63MRM Medirom HealthcarePairCorr
  0.61MYE Myers IndustriesPairCorr
  0.69BC-PA Brunswick CorpPairCorr

Moving against Fidelity Mutual Fund

  0.45CHA Chagee Holdings Downward RallyPairCorr
  0.45GPK Graphic Packaging HoldingPairCorr
  0.44VIRC Virco ManufacturingPairCorr
  0.38AGS PlayAGSPairCorr
  0.31DSS DSS IncPairCorr
  0.64FATBP FAT BrandsPairCorr

Related Correlations Analysis

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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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