Fidelity Advisor Correlations

Mutual Funds USA . 
Fund . Fidelity Advisor Financial
FAFDX Fund  USD 37.87  0.22  0.58%   
The current 90-days correlation between Fidelity Advisor Fin and Fidelity Freedom 2015 is 0.46 (i.e., Very weak 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

Poor diversification

The correlation between Fidelity Advisor Financial and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor Financial 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 Financial. 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 services.

Moving together with Fidelity Mutual Fund

  1.0FAFCX Fidelity Advisor FinPairCorr
  1.0FIKBX Fidelity Advisor FinPairCorr
  0.77FLPSX Fidelity Low PricedPairCorr
  0.69FMFTX Materials PortfolioPairCorr
  0.95VFAIX Vanguard Financials IndexPairCorr
  0.96FRBCX Regional BankPairCorr
  0.96JRGRX Regional BankPairCorr
  0.98PRISX T Rowe PricePairCorr
  0.97FIDCX Financial IndustriesPairCorr
  0.97JFDRX Financial IndustriesPairCorr
  0.98TFIFX T Rowe PricePairCorr
  0.63DFFCX Davis FinancialPairCorr

Moving against Fidelity Mutual Fund

  0.7FSUTX Utilities PortfolioPairCorr
  0.63FSAWX Fidelity Sai ConvertiblePairCorr
  0.63FHCCX Fidelity Advisor HealthPairCorr
  0.54FZABX Fidelity Advisor DivPairCorr
  0.53FGWMX Fidelity New MarketsPairCorr
  0.49FCMAX Fidelity CaliforniaPairCorr
  0.49FHNFX Fidelity Series GovePairCorr
  0.48FIKHX Fidelity Advisor Tec Steady GrowthPairCorr
  0.45FDKLX Fidelity Freedom IndexPairCorr
  0.43FFFGX Fidelity Freedom 2045PairCorr
  0.41FAGIX Fidelity Capital IncomePairCorr
  0.41FCLKX Fidelity Large CapPairCorr
  0.45FIKQX Fidelity Investment GradePairCorr
  0.4FLCSX Fidelity Large CapPairCorr
  0.4VSTSX Vanguard Total StockPairCorr
  0.4VSMPX Vanguard Total StockPairCorr
  0.4VITSX Vanguard Total StockPairCorr
  0.46VTISX Vanguard Total InterPairCorr
  0.46VTSNX Vanguard Total InterPairCorr
  0.46VTPSX Vanguard Total InterPairCorr
  0.46DMB Bny Mellon MunicipalPairCorr
  0.46NOINX Northern InternationalPairCorr
  0.45FUMBX Fidelity Short TermPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.21  0.01 (0.11) 0.09  0.16 
(0.26)
 0.48 
(0.40)
 1.64 
FPURX  0.40  0.06  0.05  0.23  0.34 
(0.44)
 1.12 
(0.65)
 3.31 
FPUKX  0.41  0.06  0.05  0.23  0.34 
(0.46)
 1.08 
(0.69)
 3.27 
FPXTX  0.12  0.05 (0.13) 6.94  0.00 
(0.19)
 0.39 
(0.19)
 0.78 
FQIFX  0.28  0.01 (0.05) 0.09  0.25 
(0.28)
 0.62 
(0.49)
 2.25 
FQIPX  0.45  0.01 (0.01) 0.08  0.59 
(0.46)
 0.98 
(0.73)
 3.85 
FQITX  0.65 (0.03)(0.04) 0.03  0.90 
(0.60)
 1.00 
(1.34)
 3.73 
FQLSX  0.47  0.00 (0.02) 0.07  0.64 
(0.49)
 0.98 
(0.79)
 4.03 
FRBDX  0.47  0.00 (0.01) 0.07  0.63 
(0.49)
 1.06 
(0.89)
 3.94 
FRBEX  0.47  0.00 (0.01) 0.07  0.66 
(0.49)
 1.06 
(0.97)
 4.10 

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