Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FASIX Fund  USD 13.74  0.04  0.29%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.77 (i.e., 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

Weak diversification

The correlation between Fidelity Asset Manager and DJI is 0.34 (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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.91FPURX Fidelity PuritanPairCorr
  0.91FPUKX Fidelity PuritanPairCorr
  0.8FPXTX Fidelity PennsylvaniaPairCorr
  0.93FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.62FQITX Fidelity Salem StreetPairCorr
  0.92FQLSX Fidelity Flex FreedomPairCorr
  0.93FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.94FRGAX Growth Allocation IndexPairCorr
  0.79FRIFX Fidelity Real EstatePairCorr
  0.97FRIMX Fidelity Income ReplPairCorr
  0.78FRINX Fidelity Real EstatePairCorr
  0.75FRIOX Fidelity Real EstatePairCorr
  0.78FRIQX Fidelity Real EstatePairCorr
  0.97FRHMX Fidelity Managed RetPairCorr
  0.97FRKMX Fidelity Managed RetPairCorr
  0.78FRIRX Fidelity Real EstatePairCorr
  0.95FRLPX Fidelity Freedom IndexPairCorr
  0.81FROGX Fidelity Municipal IncomePairCorr
  0.97FRQHX Fidelity Managed RetPairCorr
  0.97FRQIX Fidelity Income ReplPairCorr
  0.97FRQKX Fidelity Managed RetPairCorr
  0.96FRQAX Fidelity Income ReplPairCorr
  0.81FAASX Fidelity Asset ManagerPairCorr
  0.81FAAIX Fidelity Asset ManagerPairCorr
  0.78FACVX Fidelity ConvertiblePairCorr
  0.77FACPX Fidelity Advisor SumerPairCorr
  0.87FACFX Fidelity Advisor FreedomPairCorr

Related Correlations Analysis

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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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