Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FASGX Fund  USD 28.18  0.20  0.71%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.98 (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

Very weak diversification

The correlation between Fidelity Asset Manager and DJI is 0.4 (i.e., Very 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 price.

Moving together with Fidelity Mutual Fund

  0.91FPTKX Fidelity Freedom 2015PairCorr
  0.73FPURX Fidelity PuritanPairCorr
  0.73FPUKX Fidelity PuritanPairCorr
  0.68FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.76FQIPX Fidelity Freedom IndexPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.7FRAGX Aggressive GrowthPairCorr
  0.84FRAMX Fidelity Income ReplPairCorr
  0.84FRASX Fidelity Income ReplPairCorr
  0.72FRGAX Growth Allocation IndexPairCorr
  0.78FRESX Fidelity Real EstatePairCorr
  0.78FRIFX Fidelity Real EstatePairCorr
  0.83FRIMX Fidelity Income ReplPairCorr
  0.78FRINX Fidelity Real EstatePairCorr
  0.78FRIOX Fidelity Real EstatePairCorr
  0.78FRIQX Fidelity Real EstatePairCorr
  0.82FRHMX Fidelity Managed RetPairCorr
  0.82FRKMX Fidelity Managed RetPairCorr
  0.78FRIRX Fidelity Real EstatePairCorr
  0.75FRLPX Fidelity Freedom IndexPairCorr
  0.71FROGX Fidelity Municipal IncomePairCorr
  0.82FRQHX Fidelity Managed RetPairCorr
  0.83FRQIX Fidelity Income ReplPairCorr
  0.83FRQKX Fidelity Managed RetPairCorr
  0.84FRQAX Fidelity Income ReplPairCorr
  1.0FAASX Fidelity Asset ManagerPairCorr
  1.0FAAIX Fidelity Asset ManagerPairCorr
  0.87FACVX Fidelity ConvertiblePairCorr
  0.79FACTX Fidelity Advisor HealthPairCorr
  0.75FACNX Fidelity CanadaPairCorr
  0.82FACFX Fidelity Advisor FreedomPairCorr
  0.81FACDX Fidelity Advisor HealthPairCorr
  0.84FADTX Fidelity Advisor TecPairCorr

Moving against Fidelity Mutual Fund

  0.52FRPCX 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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