Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Emerging
FEATX Fund  USD 53.50  0.11  0.21%   
The current 90-days correlation between Fidelity Advisor Emerging and Fidelity Advisor Emerging is 0.86 (i.e., Very 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

Good diversification

The correlation between Fidelity Advisor Emerging and DJI is -0.07 (i.e., Good 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 estimate.

Moving together with Fidelity Mutual Fund

  0.98FAGIX Fidelity Capital IncomePairCorr
  0.94FSAWX Fidelity Sai ConvertiblePairCorr
  0.98FTASX Fidelity Asset ManagerPairCorr
  0.82FBTTX Fidelity Advisor BioPairCorr
  0.97FTSDX Fidelity StrategicPairCorr
  0.96FCLCX Fidelity Advisor IndPairCorr
  0.96FCLAX Fidelity Advisor IndPairCorr
  0.98FCLKX Fidelity Large CapPairCorr
  0.92FCPVX Fidelity Small CapPairCorr
  0.98FCTDX Strategic AdvisersPairCorr
  0.98FEYTX Fidelity Asset ManagerPairCorr
  0.98FFTMX Fidelity Asset ManagerPairCorr
  0.95FGWMX Fidelity New MarketsPairCorr
  0.96FGVMX Fidelity New MarketsPairCorr
  0.93FZABX Fidelity Advisor DivPairCorr
  0.98FIKHX Fidelity Advisor TecPairCorr
  0.95FIKBX Fidelity Advisor FinPairCorr
  0.87FIKAX Fidelity Advisor EnergyPairCorr
  0.98FLEOX Fidelity Advisor LevPairCorr
  0.98FLENX Fidelity Advisor LevPairCorr
  0.98FLEMX Fidelity Advisor LevPairCorr
  0.96FPIOX Strategic Advisers IncomePairCorr
  0.99MAPTX Matthews Pacific TigerPairCorr
  0.98MIPTX Matthews Pacific TigerPairCorr
  0.99PRASX T Rowe PricePairCorr
  0.99FSEAX Fidelity Emerging AsiaPairCorr
  0.94ASIYX Invesco Asia PacificPairCorr
  0.98SMPIX Semiconductor UltrasectorPairCorr
  0.98SMPSX Semiconductor UltrasectorPairCorr
  0.96RSNRX Victory Global NaturalPairCorr
  0.78EMO Clearbridge Energy MlpPairCorr
  0.96RSNYX Victory Global NaturalPairCorr

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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