Fidelity Asset Correlations

FASIX Fund

USD 14.45 0.05 0.35%

The current 90-days correlation between Fidelity Asset Manager and PIMCO Active Bond is 0.31 (i.e., Weak 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

Poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.72 (i.e., Poor 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

0.87	FPURX	Fidelity Puritan	Pair Corr
0.87	FPUKX	Fidelity Puritan	Pair Corr
0.68	FPXTX	Fidelity Pennsylvania	Pair Corr
0.72	FQIFX	Fidelity Freedom Index	Pair Corr
0.94	FQIPX	Fidelity Freedom Index	Pair Corr
0.92	FQLSX	Fidelity Flex Freedom	Pair Corr
0.92	FRBDX	Fidelity Freedom 2070	Pair Corr
0.92	FRBEX	Fidelity Freedom 2070	Pair Corr
0.92	FRBHX	Fidelity Freedom 2070	Pair Corr
0.89	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.89	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.87	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.89	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.9	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.9	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.92	FRBQX	Fidelity Flex Freedom	Pair Corr
0.93	FRBUX	Fidelity Freedom Index	Pair Corr
0.93	FRBVX	Fidelity Freedom Index	Pair Corr
0.93	FRBWX	Fidelity Freedom Index	Pair Corr
0.92	FRBYX	Fidelity Freedom Blend	Pair Corr
0.92	FRBZX	Fidelity Freedom Blend	Pair Corr
0.94	FRAGX	Aggressive Growth	Pair Corr
0.89	FRAMX	Fidelity Income Repl	Pair Corr
0.94	FRASX	Fidelity Income Repl	Pair Corr
0.92	FRCHX	Fidelity Freedom Blend	Pair Corr
0.91	FRCKX	Fidelity Freedom Blend	Pair Corr
0.89	FRCLX	Fidelity Freedom Blend	Pair Corr
0.91	FRCNX	Fidelity Freedom Blend	Pair Corr
0.92	FRCPX	Fidelity Freedom Blend	Pair Corr
0.92	FRCQX	Fidelity Sustainable	Pair Corr
0.92	FRCRX	Fidelity Sustainable	Pair Corr
0.92	FRCVX	Fidelity Sustainable	Pair Corr
0.91	FRCWX	Fidelity Sustainable	Pair Corr
0.9	FRCYX	Fidelity Sustainable	Pair Corr
0.89	FRDCX	Fidelity Sustainable	Pair Corr
0.92	FRDDX	Fidelity Sustainable	Pair Corr
0.92	FRDEX	Fidelity Sustainable	Pair Corr
0.94	FRGAX	Growth Allocation Index	Pair Corr

Related Correlations Analysis

	BOND	BTC	FIFGX	QQQI	FFANX	FASMX	FFVFX	VCRB	FDCAX	EQPGX
BOND		-0.58	0.12	0.44	0.5	0.21	0.23	0.95	0.43	0.18	BOND
BTC	-0.58		-0.39	-0.24	-0.32	-0.09	-0.07	-0.44	-0.54	0.19	BTC
FIFGX	0.12	-0.39		0.39	0.41	0.36	0.29	-0.07	0.07	0.3	FIFGX
QQQI	0.44	-0.24	0.39		0.85	0.53	0.46	0.36	0.64	0.86	QQQI
FFANX	0.5	-0.32	0.41	0.85		0.85	0.81	0.45	0.56	0.67	FFANX
FASMX	0.21	-0.09	0.36	0.53	0.85		0.99	0.19	0.17	0.46	FASMX
FFVFX	0.23	-0.07	0.29	0.46	0.81	0.99		0.24	0.13	0.39	FFVFX
VCRB	0.95	-0.44	-0.07	0.36	0.45	0.19	0.24		0.36	0.14	VCRB
FDCAX	0.43	-0.54	0.07	0.64	0.56	0.17	0.13	0.36		0.29	FDCAX
EQPGX	0.18	0.19	0.3	0.86	0.67	0.46	0.39	0.14	0.29		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

FFVFX	+ 0.99	FASMX
VCRB	+ 0.95	BOND
EQPGX	+ 0.86	QQQI
FFANX	+ 0.85	QQQI
FASMX	+ 0.85	FFANX
FFVFX	+ 0.81	FFANX

High negative correlations

BTC	- 0.58	BOND
FDCAX	- 0.54	BTC
VCRB	- 0.44	BTC
FIFGX	- 0.39	BTC
FFANX	- 0.32	BTC
QQQI	- 0.24	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	0.16	0.01	(0.21)	0.21	0.13	(0.17)	0.28	(0.29)	0.95
BTC	2.32	(0.43)	0.00	(0.22)	0.00	0.00	4.06	(3.78)	11.46
FIFGX	0.79	(0.03)	0.00	(0.03)	0.00	0.00	1.56	(1.59)	3.67
QQQI	0.69	(0.02)	(0.02)	0.04	1.00	(0.66)	1.35	(1.70)	4.29
FFANX	0.30	(0.03)	(0.09)	(0.01)	0.54	(0.29)	0.57	(0.64)	3.00
FASMX	0.43	(0.08)	0.00	(0.09)	0.00	0.00	0.66	(0.80)	6.71
FFVFX	0.30	(0.06)	0.00	(0.12)	0.00	0.00	0.48	(0.55)	5.13
VCRB	0.14	0.00	(0.29)	0.10	0.12	(0.15)	0.30	(0.27)	0.86
FDCAX	0.76	0.12	0.10	0.19	0.87	(0.79)	1.80	(1.54)	7.31
EQPGX	0.78	(0.04)	(0.03)	0.02	1.21	(0.74)	1.57	(2.12)	4.68

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