Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Emerging
FAMKX Fund  USD 36.27  0.25  0.69%   
The current 90-days correlation between Fidelity Advisor Emerging and Fidelity Advisor Small is 0.51 (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

Weak diversification

The correlation between Fidelity Advisor Emerging and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Emerging 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 Emerging. 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 industry.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.85FQIPX Fidelity Freedom IndexPairCorr
  0.79FQITX Fidelity Salem StreetPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.98FRBDX Fidelity Freedom 2070PairCorr
  0.98FRBEX Fidelity Freedom 2070PairCorr
  0.98FRBHX Fidelity Freedom 2070PairCorr
  0.98FRBJX Fidelity Advisor FreedomPairCorr
  0.98FRBKX Fidelity Advisor FreedomPairCorr
  0.98FRBLX Fidelity Advisor FreedomPairCorr
  0.62FRBOX Fidelity Advisor FreedomPairCorr
  0.83FRBPX Fidelity Advisor FreedomPairCorr
  0.83FRBQX Fidelity Flex FreedomPairCorr
  0.98FRBUX Fidelity Freedom IndexPairCorr
  0.83FRBVX Fidelity Freedom IndexPairCorr
  0.98FRBWX Fidelity Freedom IndexPairCorr
  0.98FRBYX Fidelity Freedom BlendPairCorr
  0.98FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.83FRAMX Fidelity Income ReplPairCorr
  0.8FRASX Fidelity Income ReplPairCorr
  0.62FRCFX Fidelity Freedom BlendPairCorr
  0.83FRCHX Fidelity Freedom BlendPairCorr
  0.62FRCKX Fidelity Freedom BlendPairCorr
  0.98FRCLX Fidelity Freedom BlendPairCorr
  0.62FRCNX Fidelity Freedom BlendPairCorr
  0.98FRCPX Fidelity Freedom BlendPairCorr
  0.86FRCQX Fidelity SustainablePairCorr
  0.98FRCRX Fidelity SustainablePairCorr
  0.82FRCVX Fidelity SustainablePairCorr
  0.98FRCWX Fidelity SustainablePairCorr
  0.98FRCYX Fidelity SustainablePairCorr
  0.82FRDCX Fidelity SustainablePairCorr
  0.82FRDDX Fidelity SustainablePairCorr
  0.98FRDEX Fidelity SustainablePairCorr
  0.98FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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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   
FIIAX
+ 0.97
FSCDX
FEAAX
+ 0.97
FSCDX
FAIDX
+ 0.94
FIIAX
FEAAX
+ 0.94
FIIAX
FEAAX
+ 0.94
FAIDX
FAIDX
+ 0.93
FSCDX
  
High negative correlations   
FEAAX
- 0.0
FLSAX
FAIDX
- 0.0
FLSAX
FIIAX
- 0.0
FLSAX
FLSAX
- 0.0
FSCDX

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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