Fidelity Advisor Equity Fund Market Value
| EQPIX Fund | USD 34.35 0.00 0.00% |
| Symbol | Fidelity |
Fidelity Advisor 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Fidelity Advisor's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Fidelity Advisor.
| 03/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in Fidelity Advisor on March 19, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Advisor Equity or generate 0.0% return on investment in Fidelity Advisor over 30 days. Fidelity Advisor is related to or competes with Atac Inflation, Tiaa-cref Inflation-linked, Ab Bond, Fidelity Sai, Rational Inflation, and Ab Bond. The fund normally invests at least 80 percent of assets in equity securities More
Fidelity Advisor Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Fidelity Advisor's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Fidelity Advisor Equity upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7046 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 2.94 | |||
| Value At Risk | (1.17) | |||
| Potential Upside | 0.8974 |
Fidelity Advisor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Advisor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Advisor's standard deviation. In reality, there are many statistical measures that can use Fidelity Advisor historical prices to predict the future Fidelity Advisor's volatility.| Risk Adjusted Performance | 0.0556 | |||
| Jensen Alpha | 0.0444 | |||
| Total Risk Alpha | 2.0E-4 | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | (1.62) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity Advisor's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Fidelity Advisor Equity Backtested Returns
We consider Fidelity Advisor very steady. Fidelity Advisor Equity secures Sharpe Ratio (or Efficiency) of 0.0892, which denotes the fund had a 0.0892% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for Fidelity Advisor Equity, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Advisor's Coefficient Of Variation of 1121.32, mean deviation of 0.4536, and Downside Deviation of 0.7046 to check if the risk estimate we provide is consistent with the expected return of 0.0531%. The fund shows a Beta (market volatility) of -0.0267, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fidelity Advisor are expected to decrease at a much lower rate. During the bear market, Fidelity Advisor is likely to outperform the market.
Auto-correlation | -0.79 |
Almost perfect reverse predictability
Fidelity Advisor Equity has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Fidelity Advisor time series from 19th of March 2024 to 3rd of April 2024 and 3rd of April 2024 to 18th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Fidelity Advisor Equity price movement. The serial correlation of -0.79 indicates that around 79.0% of current Fidelity Advisor price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.79 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.21 |
Fidelity Advisor Equity lagged returns against current returns
Autocorrelation, which is Fidelity Advisor mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Fidelity Advisor's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Advisor returns to help us make a trade decision. For example, suppose you find that Fidelity Advisor has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Fidelity Advisor regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Fidelity Advisor mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Advisor mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Advisor mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Advisor Lagged Returns
When evaluating Fidelity Advisor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Advisor mutual fund have on its future price. Fidelity Advisor autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Fidelity Advisor autocorrelation shows the relationship between Fidelity Advisor mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Advisor Equity.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Fidelity Advisor in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Fidelity Advisor's short interest history, or implied volatility extrapolated from Fidelity Advisor options trading.
Pair Trading with Fidelity Advisor
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Fidelity Advisor position performs unexpectedly, the other equity 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 appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Mutual Fund
| 0.87 | VVIAX | Vanguard Value Index | PairCorr |
| 0.88 | DOXGX | Dodge Cox Stock | PairCorr |
| 0.86 | FFMMX | American Funds American | PairCorr |
| 0.86 | FFFMX | American Funds American | PairCorr |
| 0.87 | AMRMX | American Mutual | PairCorr |
The ability to find closely correlated positions to Fidelity Advisor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fidelity Advisor when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fidelity Advisor - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fidelity Advisor Equity to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fidelity Advisor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Advisor Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Fidelity Advisor can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Fidelity Advisor Correlation, Fidelity Advisor Volatility and Fidelity Advisor Alpha and Beta module to complement your research on Fidelity Advisor. You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Fidelity Advisor technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.