Fidelity Advisor Correlations

FRBLX Fund

10.47 0.18 1.75%

The current 90-days correlation between Fidelity Advisor Freedom and Vanguard Short Term Tax Exempt is -0.23 (i.e., Very 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 -0.02 (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 various price indices.

Moving together with Fidelity Mutual Fund

0.98	RBEOX	American Funds 2065	Pair Corr
0.95	VTSAX	Vanguard Total Stock	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.95	VTSMX	Vanguard Total Stock	Pair Corr
0.95	VSMPX	Vanguard Total Stock	Pair Corr
0.95	VSTSX	Vanguard Total Stock	Pair Corr
0.95	VITSX	Vanguard Total Stock	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.96	VFFSX	Vanguard 500 Index	Pair Corr
0.69	VGTSX	Vanguard Total Inter	Pair Corr
0.69	VTIAX	Vanguard Total Inter	Pair Corr
0.64	CEE	Central Europe Russia	Pair Corr
0.93	GE	GE Aerospace	Pair Corr
0.72	IBM	International Business	Pair Corr
0.86	DIS	Walt Disney Earnings Call Tomorrow	Pair Corr
0.81	JPM	JPMorgan Chase	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.79	BA	Boeing	Pair Corr
0.81	AXP	American Express	Pair Corr
0.79	MSFT	Microsoft	Pair Corr
0.78	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.83	HPQ	HP Inc	Pair Corr

Moving against Fidelity Mutual Fund

0.36	MGOIX	Mainstay Government	Pair Corr
0.47	VZ	Verizon Communications	Pair Corr
0.45	KO	Coca Cola	Pair Corr
0.44	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	VWSTX	JAFLX	ANAGX	FMUSX	ABNCX	BMOPX	MSTBX
VWSTX		0.78	0.49	0.83	0.64	0.73	0.34	VWSTX
JAFLX	0.78		0.76	0.8	0.87	0.96	0.73	JAFLX
ANAGX	0.49	0.76		0.69	0.74	0.8	0.71	ANAGX
FMUSX	0.83	0.8	0.69		0.83	0.86	0.71	FMUSX
ABNCX	0.64	0.87	0.74	0.83		0.92	0.86	ABNCX
BMOPX	0.73	0.96	0.8	0.86	0.92		0.81	BMOPX
MSTBX	0.34	0.73	0.71	0.71	0.86	0.81		MSTBX
	VWSTX	JAFLX	ANAGX	FMUSX	ABNCX	BMOPX	MSTBX

Click cells to compare fundamentals

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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
VWSTX	0.06	0.00	0.58	(0.20)	0.08	(0.11)	0.13	(0.19)	0.70
JAFLX	0.29	0.03	0.35	0.32	0.31	(0.32)	0.60	(0.50)	2.00
ANAGX	0.20	0.01	0.31	0.03	0.25	(0.24)	0.44	(0.44)	1.30
FMUSX	0.04	0.00	0.71	(0.29)	0.00	(0.14)	0.10	(0.10)	0.50
ABNCX	0.21	0.02	0.37	0.32	0.25	(0.23)	0.49	(0.40)	1.76
BMOPX	0.29	0.02	0.32	0.26	0.34	(0.30)	0.56	(0.56)	1.77
MSTBX	0.12	0.02	0.72	0.78	0.00	(0.17)	0.21	(0.21)	0.82

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