Fidelity Advisor Correlations

FELTX Fund

USD 88.42 0.24 0.27%

The current 90-days correlation between Fidelity Advisor Sem and Fidelity Advisor Semiconductors 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

Good diversification

The correlation between Fidelity Advisor Semiconductor and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Semiconductor 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 Semiconductors. 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

0.74	DBD	Diebold Nixdorf,	Pair Corr
0.66	GENVR	Gen Digital Contingent	Pair Corr
0.69	HPE-PC	Hewlett Packard Ente	Pair Corr
0.76	CORZZ	Core Scientific, Tranche	Pair Corr
0.77	SAIL	SailPoint, Common Stock	Pair Corr

Moving against Fidelity Mutual Fund

0.87	VSTE	Vast Renewables	Pair Corr
0.61	EXOD	Exodus Movement,	Pair Corr
0.56	JNPR	Juniper Networks	Pair Corr
0.42	DVLT	Datavault AI Symbol Change	Pair Corr
0.67	AIXI	XIAO I American	Pair Corr
0.55	SAGT	SAGTEC GLOBAL LIMITED	Pair Corr
0.37	APCX	Apptech Corp	Pair Corr
0.35	ODYS	Odysightai Common Stock	Pair Corr
0.91	SMTK	SmartKem, Common Stock	Pair Corr
0.5	AXIL	AXIL Brands, Trending	Pair Corr

Related Correlations Analysis

	FELCX	FELIX	FELAX	FBTTX	FIKGX
FELCX		0.77	0.77	0.55	0.77	FELCX
FELIX	0.77		1.0	0.82	1.0	FELIX
FELAX	0.77	1.0		0.82	1.0	FELAX
FBTTX	0.55	0.82	0.82		0.82	FBTTX
FIKGX	0.77	1.0	1.0	0.82		FIKGX
	FELCX	FELIX	FELAX	FBTTX	FIKGX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FELCX	1.35	0.70	0.50	2.49	0.46	(1.77)	3.99	(1.57)	9.81
FELIX	1.44	0.63	0.31	(8.08)	1.06	(1.79)	4.00	(2.44)	9.79
FELAX	1.45	0.63	0.31	(6.89)	1.07	(1.75)	3.97	(2.46)	9.80
FBTTX	1.23	0.25	0.05	(0.88)	1.39	(1.34)	2.60	(1.95)	8.64
FIKGX	1.44	0.63	0.31	(7.83)	1.06	(1.79)	3.99	(2.45)	9.80

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