Fidelity Advisor Correlations

FEDMX Fund

USD 38.67 0.03 0.08%

The current 90-days correlation between Fidelity Advisor Emerging and Delaware Limited Term Diversified is -0.08 (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 Emerging and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Emerging 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 Emerging. 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 population.

Moving together with Fidelity Mutual Fund

0.69

FQITX

Fidelity Salem Street

Pair Corr

Moving against Fidelity Mutual Fund

0.44	FPURX	Fidelity Puritan	Pair Corr
0.43	FPUKX	Fidelity Puritan	Pair Corr
0.65	FRPCX	Fidelity Sai Alternative	Pair Corr
0.62	FACVX	Fidelity Vertible	Pair Corr
0.62	FACPX	Fidelity Advisor Sumer	Pair Corr
0.55	FADTX	Fidelity Advisor Tec	Pair Corr
0.53	FACGX	Fidelity Advisor Growth	Pair Corr
0.5	FAFSX	Fidelity Advisor Fin	Pair Corr
0.42	FAEGX	Fidelity Advisor Equity	Pair Corr

Related Correlations Analysis

	DTICX	JPDVX	SRDAX	XWDIX	QDARX	WDIAX	FARIX	TFCAX
DTICX		0.48	-0.12	0.74	0.32	0.12	0.1	-0.14	DTICX
JPDVX	0.48		-0.04	0.38	0.24	0.7	0.73	0.1	JPDVX
SRDAX	-0.12	-0.04		-0.59	-0.78	-0.35	0.09	0.87	SRDAX
XWDIX	0.74	0.38	-0.59		0.69	0.26	0.03	-0.57	XWDIX
QDARX	0.32	0.24	-0.78	0.69		0.48	-0.1	-0.75	QDARX
WDIAX	0.12	0.7	-0.35	0.26	0.48		0.7	-0.2	WDIAX
FARIX	0.1	0.73	0.09	0.03	-0.1	0.7		0.29	FARIX
TFCAX	-0.14	0.1	0.87	-0.57	-0.75	-0.2	0.29		TFCAX
	DTICX	JPDVX	SRDAX	XWDIX	QDARX	WDIAX	FARIX	TFCAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TFCAX	+ 0.87	SRDAX
XWDIX	+ 0.74	DTICX
FARIX	+ 0.73	JPDVX
WDIAX	+ 0.7	JPDVX
FARIX	+ 0.7	WDIAX
QDARX	+ 0.69	XWDIX

High negative correlations

QDARX	- 0.78	SRDAX
TFCAX	- 0.75	QDARX
XWDIX	- 0.59	SRDAX
TFCAX	- 0.57	XWDIX
WDIAX	- 0.35	SRDAX
TFCAX	- 0.2	WDIAX

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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DTICX	0.07	(0.02)	(0.91)	0.00	0.00	0.13	(0.13)	0.51
JPDVX	0.42	(0.06)	(0.07)	0.00	0.00	0.74	(0.80)	3.37
SRDAX	0.21	0.03	1.72	0.17	(0.27)	0.39	(0.38)	1.65
XWDIX	0.20	(0.08)	5.43	0.00	0.00	0.32	(0.77)	1.29
QDARX	0.13	(0.05)	(0.74)	0.00	0.00	0.16	(0.33)	1.72
WDIAX	0.53	(0.06)	(0.31)	0.00	0.00	1.09	(1.00)	5.38
FARIX	0.29	(0.02)	(0.11)	0.00	0.00	0.74	(0.62)	2.12
TFCAX	0.03	0.00	0.13	0.00	0.00	0.10	0.00	0.40

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