Fidelity Advisor Correlations

Mutual Funds USA . 
Fund . Fidelity Advisor Freedom
FACFX Fund  USD 11.14  0.05  0.45%   
The current 90-days correlation between Fidelity Advisor Freedom and Fidelity Freedom Income is -0.11 (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

Poor diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.7 (i.e., 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 census.

Moving together with Fidelity Mutual Fund

  0.96FPTKX Fidelity Freedom 2015PairCorr
  0.69FPURX Fidelity PuritanPairCorr
  0.69FPUKX Fidelity PuritanPairCorr
  0.82FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.8FQIPX Fidelity Freedom IndexPairCorr
  0.8FQITX Fidelity Salem StreetPairCorr
  0.81FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.87FRGAX Growth Allocation IndexPairCorr
  0.89FRESX Fidelity Real EstatePairCorr
  0.91FRIFX Fidelity Real EstatePairCorr
  0.97FRIMX Fidelity Income ReplPairCorr
  0.91FRINX Fidelity Real EstatePairCorr
  0.91FRIOX Fidelity Real EstatePairCorr
  0.91FRIQX Fidelity Real EstatePairCorr
  0.97FRHMX Fidelity Managed RetPairCorr
  0.97FRKMX Fidelity Managed RetPairCorr
  0.91FRIRX Fidelity Real EstatePairCorr
  0.81FRLPX Fidelity Freedom IndexPairCorr
  0.83FROGX Fidelity Municipal IncomePairCorr
  0.97FRQHX Fidelity Managed RetPairCorr
  1.0FRQIX Fidelity Income ReplPairCorr
  0.97FRQKX Fidelity Managed RetPairCorr
  0.97FRQAX Fidelity Income ReplPairCorr
  0.81FAASX Fidelity Asset ManagerPairCorr
  0.81FAAIX Fidelity Asset ManagerPairCorr
  0.82FABLX Fidelity Advisor BalancedPairCorr
  0.84FABCX Fidelity Advisor BalancedPairCorr
  0.8FACVX Fidelity VertiblePairCorr
  0.9FACTX Fidelity Advisor HealthPairCorr
  0.62FACPX Fidelity Advisor SumerPairCorr
  0.89FACNX Fidelity CanadaPairCorr
  0.92FACDX Fidelity Advisor HealthPairCorr

Moving against Fidelity Mutual Fund

  0.89FRPDX Fidelity Sai AlternativePairCorr
  0.73FRPCX Fidelity Sai AlternativePairCorr
  0.59FAGNX Fidelity Advisor Energy Steady GrowthPairCorr

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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