Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FASMX Fund  USD 20.95  0.11  0.53%   
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 population.

Moving together with Fidelity Mutual Fund

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.81FPURX Fidelity PuritanPairCorr
  0.8FPUKX Fidelity PuritanPairCorr
  0.73FPXTX Fidelity PennsylvaniaPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.83FQIPX Fidelity Freedom IndexPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.79FRAGX Aggressive GrowthPairCorr
  0.9FRAMX Fidelity Income ReplPairCorr
  0.9FRASX Fidelity Income ReplPairCorr
  0.81FRGAX Growth Allocation IndexPairCorr
  0.75FRESX Fidelity Real EstatePairCorr
  0.81FRIFX Fidelity Real EstatePairCorr
  0.89FRIMX Fidelity Income ReplPairCorr
  0.81FRINX Fidelity Real EstatePairCorr
  0.8FRIOX Fidelity Real EstatePairCorr
  0.81FRIQX Fidelity Real EstatePairCorr
  0.89FRHMX Fidelity Managed RetPairCorr
  0.89FRKMX Fidelity Managed RetPairCorr
  0.81FRIRX Fidelity Real EstatePairCorr
  0.83FRLPX Fidelity Freedom IndexPairCorr
  0.76FROGX Fidelity Municipal IncomePairCorr
  0.89FRQHX Fidelity Managed RetPairCorr
  0.9FRQIX Fidelity Income ReplPairCorr
  0.89FRQKX Fidelity Managed RetPairCorr
  0.9FRQAX Fidelity Income ReplPairCorr
  0.99FAASX Fidelity Asset ManagerPairCorr
  0.99FAAIX Fidelity Asset ManagerPairCorr
  0.88FACVX Fidelity ConvertiblePairCorr
  0.73FACTX Fidelity Advisor HealthPairCorr
  0.64FACPX Fidelity Advisor SumerPairCorr
  0.74FACNX Fidelity CanadaPairCorr
  0.86FACFX Fidelity Advisor FreedomPairCorr
  0.74FACDX Fidelity Advisor HealthPairCorr
  0.8FADTX Fidelity Advisor TecPairCorr

Moving against Fidelity Mutual Fund

  0.45FRPCX 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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