Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Emerging
FERIX Fund  USD 60.25  1.04  1.76%   
The current 90-days correlation between Fidelity Advisor Emerging and Fidelity Advisor Emerging is 0.05 (i.e., Significant 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 weak diversification

The correlation between Fidelity Advisor Emerging and DJI is 0.51 (i.e., Very 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.98FAGIX Fidelity Capital IncomePairCorr
  0.93FSAWX Fidelity Sai ConvertiblePairCorr
  0.97FTASX Fidelity Asset ManagerPairCorr
  0.83FBTTX Fidelity Advisor BioPairCorr
  0.96FTSDX Fidelity StrategicPairCorr
  0.95FCLCX Fidelity Advisor IndPairCorr
  0.95FCLAX Fidelity Advisor IndPairCorr
  0.98FCLKX Fidelity Large CapPairCorr
  0.93FCPVX Fidelity Small CapPairCorr
  0.96FCTDX Strategic AdvisersPairCorr
  0.99FEATX Fidelity Advisor EmergingPairCorr
  0.97FEYTX Fidelity Asset ManagerPairCorr
  0.97FFTMX Fidelity Asset ManagerPairCorr
  0.95FGWMX Fidelity New MarketsPairCorr
  0.95FGVMX Fidelity New MarketsPairCorr
  0.93FZABX Fidelity Advisor DivPairCorr
  0.97FIKHX Fidelity Advisor TecPairCorr
  0.94FIKBX Fidelity Advisor FinPairCorr
  0.86FIKAX Fidelity Advisor EnergyPairCorr
  0.97FLEOX Fidelity Advisor LevPairCorr
  0.97FLENX Fidelity Advisor LevPairCorr
  0.97FLEMX Fidelity Advisor LevPairCorr
  0.97FPIOX Strategic Advisers IncomePairCorr
  0.99MIPTX Matthews Pacific TigerPairCorr
  1.0FSEAX Fidelity Emerging AsiaPairCorr
  0.95ASIYX Invesco Asia PacificPairCorr
  0.98SMPIX Semiconductor UltrasectorPairCorr
  0.97SMPSX 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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