Fidelity Advisor Correlations

FACFX Fund

USD 11.04 0.01 0.09%

The current 90-days correlation between Fidelity Advisor Freedom and Multimedia Portfolio Multimedia is -0.18 (i.e., 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

Average diversification

The correlation between Fidelity Advisor Freedom and DJI is 0.12 (i.e., Average 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 signals in census.

Moving together with Fidelity Mutual Fund

1.0	FSNKX	Fidelity Freedom 2010	Pair Corr
0.86	AAATX	American Funds 2010	Pair Corr
0.75	FAATX	American Funds 2010	Pair Corr
0.9	CCATX	American Funds 2010	Pair Corr
0.91	FFFCX	Fidelity Freedom 2010	Pair Corr
1.0	FOTKX	Fidelity Freedom 2010	Pair Corr
0.85	REATX	American Funds 2010	Pair Corr
0.9	RAATX	American Funds 2010	Pair Corr
0.66	XDSMX	Dreyfus Strategic	Pair Corr
0.65	XNXJX	Nuveen New Jersey	Pair Corr
0.76	NXJ	Nuveen New Jersey	Pair Corr
0.71	XNBHX	Neuberger Berman Int	Pair Corr
0.65	KO	Coca Cola Sell-off Trend	Pair Corr
0.73	VZ	Verizon Communications Aggressive Push	Pair Corr
0.76	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against Fidelity Mutual Fund

0.41	XPPRX	Voya Prime Rate	Pair Corr
0.4	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.39	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	FBMPX	GCIEX	RGELX	DIVHX	MFIRX	GSCYX	FLDFX	AUUIX
FBMPX		0.83	0.91	0.84	0.14	0.83	0.81	0.94	FBMPX
GCIEX	0.83		0.92	0.95	0.3	0.9	0.93	0.92	GCIEX
RGELX	0.91	0.92		0.92	0.29	0.86	0.92	0.96	RGELX
DIVHX	0.84	0.95	0.92		0.39	0.79	0.88	0.91	DIVHX
MFIRX	0.14	0.3	0.29	0.39		0.13	0.29	0.12	MFIRX
GSCYX	0.83	0.9	0.86	0.79	0.13		0.86	0.92	GSCYX
FLDFX	0.81	0.93	0.92	0.88	0.29	0.86		0.89	FLDFX
AUUIX	0.94	0.92	0.96	0.91	0.12	0.92	0.89		AUUIX
	FBMPX	GCIEX	RGELX	DIVHX	MFIRX	GSCYX	FLDFX	AUUIX

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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
FBMPX	0.72	0.07	0.03	0.22	0.81	(0.72)	1.59	(1.72)	4.09
GCIEX	0.60	(0.04)	(0.08)	0.07	0.55	(0.78)	1.16	(1.03)	4.43
RGELX	0.57	(0.01)	(0.06)	0.10	0.62	(0.67)	1.31	(1.29)	3.60
DIVHX	0.49	0.02	(0.02)	0.14	0.30	(0.57)	1.12	(0.74)	2.83
MFIRX	0.09	0.01	(0.46)	(0.83)	0.00	(0.23)	0.19	(0.19)	0.76
GSCYX	0.86	(0.02)	0.03	0.10	0.83	(1.06)	2.14	(1.37)	7.13
FLDFX	0.42	(0.05)	(0.16)	0.04	0.52	(0.45)	0.64	(0.98)	2.60
AUUIX	0.50	0.00	(0.03)	0.11	0.54	(0.54)	1.06	(1.18)	3.91

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