Correlation Between Vast Renewables and Fidelity Advisor

Can any of the company-specific risk be diversified away by investing in both Vast Renewables and Fidelity Advisor 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 Vast Renewables and Fidelity Advisor into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Vast Renewables Limited and Fidelity Advisor Technology, you can compare the effects of market volatilities on Vast Renewables and Fidelity Advisor 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 Vast Renewables with a short position of Fidelity Advisor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vast Renewables and Fidelity Advisor.

Diversification Opportunities for Vast Renewables and Fidelity Advisor

0.28

Correlation Coefficient

Vast Renewables  Fidelity Advisor

Modest diversification

The 3 months correlation between Vast and Fidelity is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Vast Renewables Limited and Fidelity Advisor Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Advisor Tec and Vast Renewables 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 Vast Renewables Limited are associated (or correlated) with Fidelity Advisor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Advisor Tec has no effect on the direction of Vast Renewables i.e., Vast Renewables and Fidelity Advisor go up and down completely randomly.

Pair Corralation between Vast Renewables and Fidelity Advisor

If you would invest  8.02  in Vast Renewables Limited on September 11, 2025 and sell it today you would earn a total of  0.00  from holding Vast Renewables Limited or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	1.59%
Values	Daily Returns

Vast Renewables Limited  vs.  Fidelity Advisor Technology

Vast Renewables

Risk-Adjusted Performance

Weakest

Over the last 90 days Vast Renewables Limited has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, Vast Renewables is not utilizing all of its potentials. The latest stock price tumult, may contribute to shorter-term losses for the shareholders.

Fidelity Advisor Tec

Risk-Adjusted Performance

Weakest

Over the last 90 days Fidelity Advisor Technology has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong forward indicators, Fidelity Advisor is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Vast Renewables and Fidelity Advisor

The main advantage of trading using opposite Vast Renewables and Fidelity Advisor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vast Renewables position performs unexpectedly, Fidelity Advisor 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 Fidelity Advisor will offset losses from the drop in Fidelity Advisor's long position.

The idea behind Vast Renewables Limited and Fidelity Advisor Technology 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.