Fidelity Advisor Correlations

Mutual Funds . USA . 
Fund . Fidelity Advisor Freedom
FHGLX Fund  USD 15.73  0.04  0.25%   
The current 90-days correlation between Fidelity Advisor Freedom and Fidelity Freedom 2015 is -0.04 (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 Freedom and DJI is -0.06 (i.e., Good 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.99FPURX Fidelity PuritanPairCorr
  0.99FPUKX Fidelity PuritanPairCorr
  0.65FPXTX Fidelity PennsylvaniaPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.83FQITX Fidelity Salem StreetPairCorr
  1.0FRBDX Fidelity Freedom 2070PairCorr
  1.0FRBJX Fidelity Advisor FreedomPairCorr
  0.99FRBKX Fidelity Advisor FreedomPairCorr
  1.0FRBPX Fidelity Advisor FreedomPairCorr
  1.0FRBQX Fidelity Flex FreedomPairCorr
  1.0FRBUX Fidelity Freedom IndexPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.98FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  1.0FRCHX Fidelity Freedom BlendPairCorr
  1.0FRDCX Fidelity SustainablePairCorr
  0.99FRGAX Growth Allocation IndexPairCorr
  0.66FRESX Fidelity Real EstatePairCorr
  0.87FRIOX Fidelity Real EstatePairCorr
  0.96FRHMX Fidelity Managed RetPairCorr
  0.99FACVX Fidelity ConvertiblePairCorr
  0.99FADTX Fidelity Advisor TecPairCorr
  0.97FAFDX Fidelity Advisor FinPairCorr
  0.97FAFCX Fidelity Advisor FinPairCorr
  0.99FAGIX Fidelity Capital IncomePairCorr
  0.99FAGCX Fidelity Advisor GrowthPairCorr
  0.99FAGAX Fidelity Advisor GrowthPairCorr
  0.96FTF Franklin TempletonPairCorr
  0.98FSAKX Strategic Advisers TotalPairCorr
  0.99FSAMX Strategic AdvisersPairCorr
  0.82FSAVX Automotive PortfolioPairCorr
  0.95FSAWX Fidelity Sai ConvertiblePairCorr
  0.78FSAZX Fidelity Arizona MunPairCorr
  0.99FAOFX Fidelity Advisor SeriesPairCorr
  0.98FSCOX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.24  0.06 (0.16) 0.37  0.00 
(0.29)
 0.68 
(0.50)
 1.67 
FPURX  0.39  0.08  0.01  0.31  0.00 
(0.45)
 1.28 
(0.78)
 2.85 
FPUKX  0.40  0.08  0.01  0.31  0.00 
(0.46)
 1.32 
(0.78)
 2.90 
FPXTX  0.12 (0.01)(0.85)(0.05) 0.11 
(0.18)
 0.30 
(0.20)
 0.89 
FQIFX  0.31  0.07 (0.06) 0.33  0.00 
(0.36)
 0.96 
(0.60)
 2.17 
FQIPX  0.45  0.12  0.09  0.35  0.07 
(0.56)
 1.48 
(0.87)
 3.29 
FQITX  0.54  0.06 (0.05) 0.31  0.62 
(0.60)
 1.27 
(1.14)
 3.58 
FQLSX  0.45  0.13  0.10  0.37  0.00 
(0.57)
 1.53 
(0.84)
 3.33 
FRBDX  0.48  0.23  0.07 (3.38) 0.26 
(0.60)
 1.61 
(1.11)
 3.27 
FRBEX  0.47  0.23  0.07 (4.07) 0.22 
(0.58)
 1.61 
(1.11)
 3.18 

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