Correlation Between Fidelity Advisor and Ab Core

Can any of the company-specific risk be diversified away by investing in both Fidelity Advisor and Ab Core at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fidelity Advisor and Ab Core into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Fidelity Advisor Strategic and Ab E Opportunities, you can compare the effects of market volatilities on Fidelity Advisor and Ab Core and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fidelity Advisor with a short position of Ab Core. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity Advisor and Ab Core.

Diversification Opportunities for Fidelity Advisor and Ab Core

0.56

Correlation Coefficient

Fidelity Advisor  Ab Core

Very weak diversification

The 3 months correlation between Fidelity and ADGAX is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Strategic and Ab E Opportunities in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab E Opportunities and Fidelity Advisor is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fidelity Advisor Strategic are associated (or correlated) with Ab Core. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab E Opportunities has no effect on the direction of Fidelity Advisor i.e., Fidelity Advisor and Ab Core go up and down completely randomly.

Pair Corralation between Fidelity Advisor and Ab Core

Assuming the 90 days horizon Fidelity Advisor is expected to generate 3.19 times less return on investment than Ab Core. But when comparing it to its historical volatility, Fidelity Advisor Strategic is 5.99 times less risky than Ab Core. It trades about 0.18 of its potential returns per unit of risk. Ab E Opportunities is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  2,204  in Ab E Opportunities on June 8, 2025 and sell it today you would earn a total of  374.00  from holding Ab E Opportunities or generate 16.97% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	100.0%
Values	Daily Returns

Fidelity Advisor Strategic  vs.  Ab E Opportunities

Fidelity Advisor Str

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Fidelity Advisor Strategic are ranked lower than 25 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong basic indicators, Fidelity Advisor is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Ab E Opportunities

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Ab E Opportunities are ranked lower than 15 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Ab Core may actually be approaching a critical reversion point that can send shares even higher in October 2025.

Pair Trading with Fidelity Advisor and Ab Core

The main advantage of trading using opposite Fidelity Advisor and Ab Core positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity Advisor position performs unexpectedly, Ab Core can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ab Core will offset losses from the drop in Ab Core's long position.

The idea behind Fidelity Advisor Strategic and Ab E Opportunities pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..