Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Freedom
FCFEX Fund  USD 14.42  0.05  0.35%   
The current 90-days correlation between Fidelity Advisor Freedom and Fidelity Freedom 2015 is -0.05 (i.e., Good 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 Freedom and DJI is 0.85 (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 Freedom 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 Freedom. 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 income.

Moving together with Fidelity Mutual Fund

  0.73FPTKX Fidelity Freedom 2015PairCorr
  0.73FPURX Fidelity PuritanPairCorr
  0.73FPUKX Fidelity PuritanPairCorr
  0.65FPXTX Fidelity PennsylvaniaPairCorr
  0.74FQIFX Fidelity Freedom IndexPairCorr
  0.74FQIPX Fidelity Freedom IndexPairCorr
  0.73FQITX Fidelity Salem StreetPairCorr
  0.74FQLSX Fidelity Flex FreedomPairCorr
  0.74FRBDX Fidelity Freedom 2070PairCorr
  0.65FRBEX Fidelity Freedom 2070PairCorr
  1.0FRBHX Fidelity Freedom 2070PairCorr
  0.74FRBJX Fidelity Advisor FreedomPairCorr
  0.65FRBKX Fidelity Advisor FreedomPairCorr
  0.65FRBLX Fidelity Advisor FreedomPairCorr
  1.0FRBOX Fidelity Advisor FreedomPairCorr
  0.65FRBPX Fidelity Advisor FreedomPairCorr
  0.64FRBQX Fidelity Flex FreedomPairCorr
  0.64FRBUX Fidelity Freedom IndexPairCorr
  1.0FRBVX Fidelity Freedom IndexPairCorr
  0.65FRBYX Fidelity Freedom BlendPairCorr
  0.65FRBZX Fidelity Freedom BlendPairCorr
  0.73FRAGX Aggressive GrowthPairCorr
  0.72FRAMX Fidelity Income ReplPairCorr
  0.64FRASX Fidelity Income ReplPairCorr
  1.0FRCFX Fidelity Freedom BlendPairCorr
  0.65FRCHX Fidelity Freedom BlendPairCorr
  1.0FRCKX Fidelity Freedom BlendPairCorr
  0.65FRCLX Fidelity Freedom BlendPairCorr
  1.0FRCNX Fidelity Freedom BlendPairCorr
  1.0FRCPX Fidelity Freedom BlendPairCorr
  0.65FRCQX Fidelity SustainablePairCorr
  0.65FRCRX Fidelity SustainablePairCorr
  1.0FRCVX Fidelity SustainablePairCorr
  0.65FRCWX Fidelity SustainablePairCorr
  0.65FRCYX Fidelity SustainablePairCorr
  0.65FRDCX Fidelity SustainablePairCorr
  0.65FRDDX Fidelity SustainablePairCorr
  0.73FRGAX Growth Allocation IndexPairCorr
  0.73FRIFX Fidelity Real EstatePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.23  0.11 (0.05)(4.49) 0.00 
(0.30)
 0.68 
(0.50)
 1.67 
FPURX  0.38  0.21  0.15 (5.76) 0.00 
(0.46)
 1.28 
(0.43)
 2.85 
FPUKX  0.38  0.21  0.14 (4.98) 0.00 
(0.46)
 1.32 
(0.43)
 2.90 
FPXTX  0.11 (0.01)(0.82) 0.02  0.03 
(0.17)
 0.30 
(0.20)
 0.89 
FQIFX  0.30  0.15  0.04 (3.41) 0.00 
(0.37)
 0.96 
(0.50)
 2.17 
FQIPX  0.45  0.25  0.20 (4.87) 0.00 
(0.58)
 1.48 
(0.83)
 3.29 
FQITX  0.55  0.10 (0.04)(2.59) 0.64 
(0.59)
 1.26 
(1.14)
 3.58 
FQLSX  0.45  0.26  0.21 (6.27) 0.00 
(0.60)
 1.53 
(0.80)
 3.33 
FRBDX  0.45  0.26  0.21 (5.86) 0.00 
(0.62)
 1.61 
(0.79)
 3.27 
FRBEX  0.43  0.23  0.17  4.60  0.00 
(0.56)
 1.40 
(0.79)
 3.18 

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