Fidelity Advisor Correlations

Mutual Funds USA . 
Fund . Fidelity Advisor Freedom
FEGLX Fund  USD 10.84  0.02  0.18%   
The current 90-days correlation between Fidelity Advisor Freedom and Nuveen Real Estate is 0.61 (i.e., Poor 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

Very good diversification

The correlation between Fidelity Advisor Freedom and DJI is -0.26 (i.e., Very good 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  1.0VTINX Vanguard Target RetiPairCorr
  0.99LIRIX Blackrock Lifepath IdxPairCorr
  0.99LIRAX Blackrock Lfpth IdxPairCorr
  0.99JSIIX Jpmorgan SmartretirementPairCorr
  0.99JSIZX Jpmorgan SmartretirementPairCorr
  0.99JSIYX Jpmorgan SmartretirementPairCorr
  0.99JSIPX Jpmorgan SmartretirementPairCorr
  0.99JSIQX Jpmorgan SmartretirementPairCorr
  1.0FNSHX Fidelity Freedom IncomePairCorr
  0.65GAAKX Gmo Alternative AlloPairCorr
  0.65GAAGX Gmo Alternative AlloPairCorr
  0.98GPBFX Gmo E PlusPairCorr
  0.83GPMFX Guidepath Managed FuturesPairCorr
  0.96PQTAX Pimco Trends ManagedPairCorr
  0.96PQTNX Pimco Trends ManagedPairCorr
  0.96PQTIX Aa Pimco TrPairCorr
  0.95WARCX Wells Fargo AdvantagePairCorr
  0.97FAUTX American Funds 2040PairCorr
  0.92DFIEX International E EquityPairCorr
  0.98DOXIX Dodge Cox IncomePairCorr
  0.92POSKX Primecap Odyssey StockPairCorr
  0.77CSFAX Cohen Steers GlobalPairCorr
  0.91RYATX Nasdaq 100 FundPairCorr
  0.85PVFAX Paradigm ValuePairCorr
  0.87GVIYX Guidestone Value EquityPairCorr
  0.62XOM Exxon Mobil CorpPairCorr
  0.78AXP American ExpressPairCorr
  0.71CAT CaterpillarPairCorr
  0.78JNJ Johnson JohnsonPairCorr
  0.73AA Alcoa Corp Earnings Call This WeekPairCorr
  0.68TRV The Travelers CompaniesPairCorr

Moving against Fidelity Mutual Fund

  0.69KO Coca Cola Earnings Call This WeekPairCorr
  0.31PG Procter Gamble Earnings Call This WeekPairCorr

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.

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