Fidelity Advisor Correlations

FAERX Fund

USD 33.57 0.27 0.80%

The current 90-days correlation between Fidelity Advisor Overseas and Fidelity Freedom 2015 is 0.13 (i.e., Average 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

Significant diversification

The correlation between Fidelity Advisor Overseas and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Overseas and NYA 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 Overseas. 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

0.86	FPTKX	Fidelity Freedom 2015	Pair Corr
0.87	FPURX	Fidelity Puritan	Pair Corr
0.87	FPUKX	Fidelity Puritan	Pair Corr
0.9	FQIFX	Fidelity Freedom Index	Pair Corr
0.92	FQIPX	Fidelity Freedom Index	Pair Corr
0.98	FQITX	Fidelity Salem Street	Pair Corr
0.83	FQLSX	Fidelity Flex Freedom	Pair Corr
0.88	FRAMX	Fidelity Income Repl	Pair Corr
0.88	FRASX	Fidelity Income Repl	Pair Corr
0.93	FRGAX	Growth Allocation Index	Pair Corr
0.76	FRESX	Fidelity Real Estate	Pair Corr
0.94	FRIFX	Fidelity Real Estate	Pair Corr
0.87	FRIMX	Fidelity Income Repl	Pair Corr
0.88	FRINX	Fidelity Real Estate	Pair Corr
0.88	FRIOX	Fidelity Real Estate	Pair Corr
0.94	FRHMX	Fidelity Managed Ret	Pair Corr
0.87	FRKMX	Fidelity Managed Ret	Pair Corr
0.89	FRIRX	Fidelity Real Estate	Pair Corr
0.92	FRLPX	Fidelity Freedom Index	Pair Corr
0.87	FRQHX	Fidelity Managed Ret	Pair Corr
0.95	FRQIX	Fidelity Income Repl	Pair Corr
0.91	FRQKX	Fidelity Managed Ret	Pair Corr
0.9	FRQYX	Fidelity Advisor Managed	Pair Corr
0.87	FAASX	Fidelity Asset Manager	Pair Corr
0.87	FABLX	Fidelity Advisor Balanced	Pair Corr
0.88	FABCX	Fidelity Advisor Balanced	Pair Corr
0.89	FACVX	Fidelity Convertible	Pair Corr
0.66	FACPX	Fidelity Advisor Sumer	Pair Corr
0.63	FACNX	Fidelity Canada	Pair Corr
0.87	FACGX	Fidelity Advisor Growth	Pair Corr
0.88	FADTX	Fidelity Advisor Tec Steady Growth	Pair Corr
0.85	FADMX	Fidelity Advisor Str	Pair Corr
0.98	FADIX	Fidelity Advisor Div	Pair Corr
0.99	FADCX	Fidelity Advisor Div	Pair Corr

Moving against Fidelity Mutual Fund

0.43

FAGNX

Fidelity Advisor Energy

Pair Corr

Related Correlations Analysis

	FPTKX	FPURX	FPXTX	FQIFX	FQIPX	FRAMX	FRASX	FRESX	FRIFX	FRIMX
FPTKX		0.94	0.36	0.98	0.9	0.98	0.98	0.65	0.9	0.98	FPTKX
FPURX	0.94		0.21	0.95	0.93	0.93	0.94	0.56	0.87	0.93	FPURX
FPXTX	0.36	0.21		0.38	0.29	0.37	0.36	0.72	0.51	0.36	FPXTX
FQIFX	0.98	0.95	0.38		0.92	0.99	0.99	0.7	0.93	0.99	FQIFX
FQIPX	0.9	0.93	0.29	0.92		0.89	0.91	0.56	0.91	0.89	FQIPX
FRAMX	0.98	0.93	0.37	0.99	0.89		1.0	0.71	0.92	1.0	FRAMX
FRASX	0.98	0.94	0.36	0.99	0.91	1.0		0.69	0.92	1.0	FRASX
FRESX	0.65	0.56	0.72	0.7	0.56	0.71	0.69		0.77	0.69	FRESX
FRIFX	0.9	0.87	0.51	0.93	0.91	0.92	0.92	0.77		0.92	FRIFX
FRIMX	0.98	0.93	0.36	0.99	0.89	1.0	1.0	0.69	0.92		FRIMX
	FPTKX	FPURX	FPXTX	FQIFX	FQIPX	FRAMX	FRASX	FRESX	FRIFX	FRIMX

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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
FPTKX	0.32	0.01	0.02	0.01	0.42	(0.35)	0.70	(0.72)	2.03
FPURX	0.46	0.05	0.09	0.06	0.43	(0.54)	1.10	(0.94)	2.40
FPXTX	0.13	(0.02)	0.00	2.94	0.00	0.00	0.29	(0.29)	0.77
FQIFX	0.34	0.01	0.03	0.02	0.44	(0.36)	0.79	(0.82)	1.76
FQIPX	0.47	0.03	0.06	0.40	0.54	(0.53)	1.08	(1.08)	2.46
FRAMX	0.23	0.00	0.01	(0.01)	0.32	(0.23)	0.48	(0.52)	1.49
FRASX	0.26	0.00	0.02	0.00	0.35	(0.26)	0.55	(0.61)	1.60
FRESX	0.80	(0.07)	0.00	(0.06)	0.00	0.00	1.82	(1.68)	6.48
FRIFX	0.27	0.00	0.01	(0.03)	0.35	(0.31)	0.61	(0.52)	2.07
FRIMX	0.24	0.00	0.01	0.00	0.32	(0.24)	0.48	(0.53)	1.52

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