Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FAMRX Fund  USD 27.41  0.22  0.81%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.94 (i.e., Almost no 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

Weak diversification

The correlation between Fidelity Asset Manager and DJI is 0.3 (i.e., Weak 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.84FPURX Fidelity PuritanPairCorr
  0.84FPUKX Fidelity PuritanPairCorr
  0.7FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.86FQIPX Fidelity Freedom IndexPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.82FRAGX Aggressive GrowthPairCorr
  0.88FRAMX Fidelity Income ReplPairCorr
  0.89FRASX Fidelity Income ReplPairCorr
  0.83FRGAX Growth Allocation IndexPairCorr
  0.7FRESX Fidelity Real EstatePairCorr
  0.77FRIFX Fidelity Real EstatePairCorr
  0.87FRIMX Fidelity Income ReplPairCorr
  0.77FRINX Fidelity Real EstatePairCorr
  0.76FRIOX Fidelity Real EstatePairCorr
  0.77FRIQX Fidelity Real EstatePairCorr
  0.87FRHMX Fidelity Managed RetPairCorr
  0.87FRKMX Fidelity Managed RetPairCorr
  0.76FRIRX Fidelity Real EstatePairCorr
  0.86FRLPX Fidelity Freedom IndexPairCorr
  0.73FROGX Fidelity Municipal IncomePairCorr
  0.88FRQHX Fidelity Managed RetPairCorr
  0.88FRQIX Fidelity Income ReplPairCorr
  0.88FRQKX Fidelity Managed RetPairCorr
  0.88FRQAX Fidelity Income ReplPairCorr
  0.98FAASX Fidelity Asset ManagerPairCorr
  0.98FAAIX Fidelity Asset ManagerPairCorr
  0.87FACVX Fidelity ConvertiblePairCorr
  0.69FACTX Fidelity Advisor HealthPairCorr
  0.67FACPX Fidelity Advisor SumerPairCorr
  0.7FACNX Fidelity CanadaPairCorr
  0.85FACFX Fidelity Advisor FreedomPairCorr
  0.71FACDX Fidelity Advisor HealthPairCorr
  0.8FADTX Fidelity Advisor TecPairCorr

Moving against Fidelity Mutual Fund

  0.39FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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