Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FAASX Fund  USD 31.02  0.31  0.99%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.08 (i.e., Significant diversification). The correlation of Fidelity Asset 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 Asset Correlation With Market

Almost no diversification

The correlation between Fidelity Asset Manager and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Asset Manager 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 Asset Manager. 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 producer price index.

Moving together with Fidelity Mutual Fund

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.93FPURX Fidelity PuritanPairCorr
  0.93FPUKX Fidelity PuritanPairCorr
  0.88FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.96FQIPX Fidelity Freedom IndexPairCorr
  0.96FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.81FRBDX Fidelity Freedom 2070PairCorr
  1.0FRBEX Fidelity Freedom 2070PairCorr
  0.81FRBHX Fidelity Freedom 2070PairCorr
  0.82FRBJX Fidelity Advisor FreedomPairCorr
  1.0FRBKX Fidelity Advisor FreedomPairCorr
  0.75FRBLX Fidelity Advisor FreedomPairCorr
  0.83FRBNX Fidelity Advisor FreedomPairCorr
  0.82FRBOX Fidelity Advisor FreedomPairCorr
  0.75FRBPX Fidelity Advisor FreedomPairCorr
  0.82FRBQX Fidelity Flex FreedomPairCorr
  0.82FRBUX Fidelity Freedom IndexPairCorr
  0.82FRBVX Fidelity Freedom IndexPairCorr
  1.0FRBWX Fidelity Freedom IndexPairCorr
  1.0FRBYX Fidelity Freedom BlendPairCorr
  0.82FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.74FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  1.0FRCFX Fidelity Freedom BlendPairCorr
  0.75FRCHX Fidelity Freedom BlendPairCorr
  0.96FRCJX Fidelity Freedom BlendPairCorr
  0.82FRCKX Fidelity Freedom BlendPairCorr
  0.97FRCLX Fidelity Freedom BlendPairCorr
  0.82FRCNX Fidelity Freedom BlendPairCorr
  0.82FRCPX Fidelity Freedom BlendPairCorr
  0.96FRCQX Fidelity SustainablePairCorr
  0.75FRCRX Fidelity SustainablePairCorr
  0.82FRCVX Fidelity SustainablePairCorr
  0.84FRCWX Fidelity SustainablePairCorr
  0.91FRCYX Fidelity SustainablePairCorr
  0.84FRDCX Fidelity SustainablePairCorr
  0.96FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


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

FAMRX
+ 0.96
FFTMX
FAMRX
+ 0.87
FCPGX
FAMRX
+ 0.84
FDKVX
FCPGX
+ 0.82
FFTMX
FDKVX
+ 0.81
FFTMX
FCPGX
+ 0.63
FDKVX
  

High negative correlations

TPLGX
- 0.27
FFTMX
FAMRX
- 0.19
TPLGX
TPLGX
- 0.17
FDKVX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Asset 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 Asset'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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