Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Freedom
FCTHX Fund  USD 14.74  0.12  0.82%   
The current 90-days correlation between Fidelity Advisor Freedom and Semiconductor Ultrasector Profund is 0.64 (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 Freedom and DJI is 0.86 (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 rate.

Moving together with Fidelity Mutual Fund

  0.99FPTKX Fidelity Freedom 2015PairCorr
  1.0FPURX Fidelity PuritanPairCorr
  1.0FPUKX Fidelity PuritanPairCorr
  0.65FPXTX Fidelity PennsylvaniaPairCorr
  1.0FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.85FQITX Fidelity Salem StreetPairCorr
  0.99FRBDX Fidelity Freedom 2070PairCorr
  0.99FRBJX Fidelity Advisor FreedomPairCorr
  1.0FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBUX Fidelity Freedom IndexPairCorr
  1.0FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.99FRASX Fidelity Income ReplPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRDCX Fidelity SustainablePairCorr
  1.0FRGAX Growth Allocation IndexPairCorr
  0.7FRESX Fidelity Real EstatePairCorr
  0.9FRIOX Fidelity Real EstatePairCorr
  0.98FRHMX Fidelity Managed RetPairCorr
  0.98FACVX Fidelity ConvertiblePairCorr
  0.98FADTX Fidelity Advisor TecPairCorr
  0.96FAFDX Fidelity Advisor FinPairCorr
  0.96FAFCX Fidelity Advisor FinPairCorr
  0.98FAGIX Fidelity Capital IncomePairCorr
  0.98FAGCX Fidelity Advisor GrowthPairCorr
  0.98FAGAX Fidelity Advisor GrowthPairCorr
  0.97FTF Franklin TempletonPairCorr
  1.0FSAKX Strategic Advisers TotalPairCorr
  0.98FSAMX Strategic AdvisersPairCorr
  0.84FSAVX Automotive PortfolioPairCorr
  0.95FSAWX Fidelity Sai ConvertiblePairCorr
  0.78FSAZX Fidelity Arizona MunPairCorr
  0.99FAOFX Fidelity Advisor SeriesPairCorr
  0.99FSCOX Fidelity InternationalPairCorr

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.

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