Fidelity Asset Correlations

FASIX Fund

USD 14.60 0.01 0.07%

The current 90-days correlation between Fidelity Asset Manager and Fidelity Advisor Equity is 0.81 (i.e., Very poor 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 0.92 (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 gross domestic product.

Moving together with Fidelity Mutual Fund

0.95	FRBHX	Fidelity Freedom 2070	Pair Corr
0.89	FACGX	Fidelity Advisor Growth	Pair Corr
0.86	FADCX	Fidelity Advisor Div	Pair Corr
0.84	FAFCX	Fidelity Advisor Fin	Pair Corr
0.95	FAGIX	Fidelity Capital Income	Pair Corr
0.92	FTF	Franklin Templeton	Pair Corr
0.89	FSAGX	Gold Portfolio Gold	Pair Corr
0.99	FSANX	Fidelity Asset Manager	Pair Corr
0.91	FSAWX	Fidelity Sai Convertible	Pair Corr
0.94	FSCIX	Fidelity Advisor Small	Pair Corr
0.87	FSCOX	Fidelity International	Pair Corr
0.78	FSENX	Fidelity Select Port	Pair Corr
0.95	FARVX	Fidelity Income Repl	Pair Corr
0.83	FARMX	Strategic Advisers	Pair Corr
0.95	FARFX	Fidelity Income Repl	Pair Corr
0.83	FSEAX	Fidelity Emerging Asia	Pair Corr
0.98	FSGEX	Fidelity Series Global	Pair Corr
0.97	FSIDX	Fidelity Strategic	Pair Corr
0.96	FSLSX	Fidelity Advisor Value	Pair Corr
0.99	FSNVX	Fidelity Freedom 2040	Pair Corr
0.95	FSMDX	Fidelity Mid Cap	Pair Corr
0.76	FSMEX	Medical Equipment And	Pair Corr
0.85	FSMJX	Fidelity Sai Conservative	Pair Corr
0.85	FSMNX	Fidelity Sai Municipal	Pair Corr
0.93	FSRRX	Fidelity Strategic Real	Pair Corr
0.7	FSTCX	Telecommunications	Pair Corr
0.91	FSYJX	Fidelity Sustainable	Pair Corr
0.92	FSYRX	Fidelity Sustainable	Pair Corr
0.99	FBIFX	Fidelity Freedom Index	Pair Corr
0.66	FTBFX	Fidelity Total Bond	Pair Corr
0.88	FBMPX	Multimedia Portfolio	Pair Corr
0.94	FTASX	Fidelity Asset Manager	Pair Corr
0.92	FTMKX	Fidelity Advisor Emerging	Pair Corr
0.96	FCAEX	Fidelity Climate Action	Pair Corr
0.86	FCGSX	Fidelity Series Growth	Pair Corr
0.87	FCHKX	Fidelity China Region	Pair Corr

Moving against Fidelity Mutual Fund

0.35

FTLTX

Fidelity Series Long

Pair Corr

Related Correlations Analysis

	BOND	BTC	FIFGX	QQQI	FFANX	FASMX	FFVFX	VCRB	FDCAX	EQPGX
BOND		-0.22	0.61	0.55	0.69	0.73	0.86	0.96	0.76	0.38	BOND
BTC	-0.22		-0.22	0.11	0.29	0.23	-0.18	-0.25	-0.39	0.45	BTC
FIFGX	0.61	-0.22		0.46	0.52	0.54	0.74	0.49	0.59	0.34	FIFGX
QQQI	0.55	0.11	0.46		0.76	0.77	0.79	0.54	0.66	0.9	QQQI
FFANX	0.69	0.29	0.52	0.76		0.95	0.79	0.65	0.63	0.74	FFANX
FASMX	0.73	0.23	0.54	0.77	0.95		0.83	0.7	0.67	0.72	FASMX
FFVFX	0.86	-0.18	0.74	0.79	0.79	0.83		0.79	0.91	0.59	FFVFX
VCRB	0.96	-0.25	0.49	0.54	0.65	0.7	0.79		0.69	0.37	VCRB
FDCAX	0.76	-0.39	0.59	0.66	0.63	0.67	0.91	0.69		0.36	FDCAX
EQPGX	0.38	0.45	0.34	0.9	0.74	0.72	0.59	0.37	0.36		EQPGX
	BOND	BTC	FIFGX	QQQI	FFANX	FASMX	FFVFX	VCRB	FDCAX	EQPGX

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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

VCRB	+ 0.96	BOND
FASMX	+ 0.95	FFANX
FDCAX	+ 0.91	FFVFX
EQPGX	+ 0.9	QQQI
FFVFX	+ 0.86	BOND
FFVFX	+ 0.83	FASMX

High negative correlations

FDCAX	- 0.39	BTC
VCRB	- 0.25	BTC
FIFGX	- 0.22	BTC
BTC	- 0.22	BOND
FFVFX	- 0.18	BTC

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BOND	0.15	(0.01)	(0.25)	(0.02)	0.17	(0.17)	0.27	(0.34)	0.73
BTC	2.29	(0.45)	0.00	(0.31)	0.00	0.00	4.06	(5.57)	12.79
FIFGX	0.82	0.17	0.14	3.00	0.69	(0.91)	1.64	(1.35)	3.01
QQQI	0.63	(0.01)	(0.02)	0.04	0.95	(0.59)	1.20	(1.70)	4.27
FFANX	0.27	0.03	(0.02)	0.13	0.23	(0.33)	0.57	(0.64)	1.49
FASMX	0.32	0.03	0.00	0.13	0.31	(0.35)	0.66	(0.73)	1.83
FFVFX	0.23	0.02	(0.06)	0.11	0.19	(0.27)	0.50	(0.50)	1.24
VCRB	0.14	(0.01)	(0.30)	(0.05)	0.16	(0.15)	0.28	(0.28)	0.76
FDCAX	0.72	0.18	0.16	0.29	0.70	(0.79)	1.35	(1.54)	7.71
EQPGX	0.73	(0.02)	(0.03)	0.02	1.14	(0.70)	1.49	(2.12)	4.84

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