FIDELITY ADVISOR Correlations

FAMKX Fund

USD 44.53 -0.35 -0.78%

Current 90-days correlation between Fidelity Advisor Emerging and Vanguard Utilities Index is 0.24 (i.e., Modest diversification).Investors use FIDELITY ADVISOR's correlation data to evaluate hedging opportunities. A negative correlation with another asset means the two positions can offset each other's risk during periods of market stress.

Correlation Against Market - FIDELITY ADVISOR

Very weak diversification

Across the chosen horizon, FAMKX and DJI show a correlation of 0.58 and fall into the Very weak diversification bucket. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

Investing Opportunities provides context for diversified portfolio construction. Additional portfolio transparency improves capital positioning. This reflects a position in Fidelity Advisor Emerging across the allocation. 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 industry.

Moving together with FIDELITY Mutual Fund

0.97	FPTKX	Fidelity Freedom 2015	Pair Corr
0.89	FPURX	Fidelity Puritan	Pair Corr
0.89	FPUKX	Fidelity Puritan	Pair Corr
0.89	FPXTX	Fidelity Pennsylvania	Pair Corr
0.95	FQIFX	Fidelity Freedom Index	Pair Corr
0.94	FQIPX	Fidelity Freedom Index	Pair Corr
0.88	FQITX	Fidelity Salem Street	Pair Corr
0.98	FQLSX	Fidelity Flex Freedom	Pair Corr
0.96	FRBEX	Fidelity Freedom 2070	Pair Corr
0.96	FRBHX	Fidelity Freedom 2070	Pair Corr
0.96	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.96	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.96	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.94	FRBVX	Fidelity Freedom Index	Pair Corr
0.93	FRBWX	Fidelity Freedom Index	Pair Corr
0.91	FRAGX	Aggressive Growth	Pair Corr
0.93	FRAMX	Fidelity Income	Pair Corr
0.96	FRASX	Fidelity Income	Pair Corr
0.95	FRCJX	Fidelity Freedom Blend	Pair Corr
0.95	FRCKX	Fidelity Freedom Blend	Pair Corr
0.96	FRCNX	Fidelity Freedom Blend	Pair Corr
0.93	FRCWX	Fidelity Sustainable	Pair Corr
0.92	FRGAX	Growth Allocation Index	Pair Corr
0.79	FRESX	Fidelity Real Estate	Pair Corr
0.81	FRIFX	Fidelity Real Estate	Pair Corr
0.95	FRIMX	Fidelity Income	Pair Corr
0.8	FRINX	Fidelity Real Estate	Pair Corr
0.95	FRHMX	Fidelity Managed	Pair Corr
0.9	FROGX	Fidelity Municipal Income	Pair Corr
0.95	FRQHX	Fidelity Managed	Pair Corr
0.95	FRQIX	Fidelity Income	Pair Corr
0.95	FRQKX	Fidelity Managed	Pair Corr
0.93	FRQAX	Fidelity Income	Pair Corr
0.95	FAASX	Fidelity Asset Manager	Pair Corr
0.96	FAAIX	Fidelity Asset Manager	Pair Corr
0.94	FADMX	Fidelity Advisor	Pair Corr

Moving against FIDELITY Mutual Fund

0.48	FAGOX	Fidelity Advisor Growth	Pair Corr
0.48	FAGAX	Fidelity Advisor Growth	Pair Corr
0.47	FACGX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	DFAX	VIGI	VIAAX	EZU	AVDE	VTSIX	DFAU	SDVY	SPTI	VUIAX
DFAX		0.75	0.76	0.78	1.0	0.84	0.56	0.91	0.76	0.77	DFAX
VIGI	0.75		1.0	0.94	0.77	0.85	0.69	0.84	0.59	0.37	VIGI
VIAAX	0.76	1.0		0.94	0.78	0.86	0.7	0.85	0.59	0.38	VIAAX
EZU	0.78	0.94	0.94		0.8	0.85	0.73	0.84	0.49	0.32	EZU
AVDE	1.0	0.77	0.78	0.8		0.85	0.57	0.92	0.77	0.76	AVDE
VTSIX	0.84	0.85	0.86	0.85	0.85		0.61	0.97	0.54	0.49	VTSIX
DFAU	0.56	0.69	0.7	0.73	0.57	0.61		0.53	0.18	0.04	DFAU
SDVY	0.91	0.84	0.85	0.84	0.92	0.97	0.53		0.69	0.63	SDVY
SPTI	0.76	0.59	0.59	0.49	0.77	0.54	0.18	0.69		0.87	SPTI
VUIAX	0.77	0.37	0.38	0.32	0.76	0.49	0.04	0.63	0.87		VUIAX
	DFAX	VIGI	VIAAX	EZU	AVDE	VTSIX	DFAU	SDVY	SPTI	VUIAX

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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
DFAX	0.67	0.09	0.11	-0.79	1.04	-0.64	1.44	-1.76	5.72
VIGI	0.61	0.00	0.00	-0.04	0.00	0.00	0.90	-1.40	4.42
VIAAX	0.62	0.00	0.00	-0.04	0.00	0.00	0.96	-1.45	4.59
EZU	0.74	0.02	0.00	-0.02	0.00	0.00	1.42	-1.71	5.21
AVDE	0.66	0.08	0.11	-0.56	0.98	-0.64	1.09	-1.63	5.45
VTSIX	0.80	0.07	0.06	0.01	1.00	-0.83	1.52	-1.81	5.02
DFAU	0.57	-0.05	0.00	0.27	0.00	0.00	0.82	-1.40	3.73
SDVY	0.71	0.09	0.10	0.04	0.82	-0.81	2.01	-1.43	4.47
SPTI	0.13	0.00	0.25	0.29	0.12	-0.17	0.28	-0.24	0.90
VUIAX	0.69	0.14	0.21	1.18	0.71	-0.73	1.49	-1.31	4.33

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