Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FCASX Fund  USD 30.16  1.86  5.81%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.05 (i.e., Significant 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

Average diversification

The correlation between Fidelity Asset Manager and DJI is 0.13 (i.e., Average 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 real.

Moving together with Fidelity Mutual Fund

  0.68FQIFX Fidelity Freedom IndexPairCorr
  0.68FQIPX Fidelity Freedom IndexPairCorr
  0.67FQLSX Fidelity Flex FreedomPairCorr
  0.67FRBQX Fidelity Flex FreedomPairCorr
  0.67FRBYX Fidelity Freedom BlendPairCorr
  0.68FRAGX Aggressive GrowthPairCorr
  0.67FRCFX Fidelity Freedom BlendPairCorr
  0.87FRCKX Fidelity Freedom BlendPairCorr
  0.62FRCLX Fidelity Freedom BlendPairCorr
  0.67FRCNX Fidelity Freedom BlendPairCorr
  0.67FRCQX Fidelity SustainablePairCorr
  0.68FRCWX Fidelity SustainablePairCorr
  0.67FRDDX Fidelity SustainablePairCorr
  0.69FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FAAIX  0.44  0.01 (0.02) 0.09  0.59 
(0.43)
 0.86 
(1.00)
 2.64 
FEYAX  0.53  0.05 (0.01) 0.43  0.80 
(0.50)
 1.03 
(1.19)
 3.16 
JGRO  0.77 (0.06)(0.04) 0.02  1.31 
(0.67)
 1.66 
(1.90)
 4.78 
SPYD  0.58 (0.03)(0.07) 0.03  0.70 
(0.64)
 1.23 
(1.19)
 3.18 
FCAGX  1.06  0.03  0.05  0.10  1.30 
(1.09)
 2.00 
(2.08)
 6.48 
FIDGX  1.05  0.09  0.02  0.77  1.31 
(1.07)
 1.99 
(2.34)
 6.44 
FCTGX  1.06  0.04  0.05  0.10  1.30 
(1.09)
 2.01 
(2.10)
 6.40 
BUFR  0.28  0.01 (0.06) 0.09  0.35 
(0.29)
 0.63 
(0.65)
 1.73 
SHYG  0.14  0.00 (0.35) 0.13  0.07 
(0.17)
 0.31 
(0.26)
 0.76 
SSO  1.13 (0.02) 0.02  0.06  1.76 
(1.06)
 2.36 
(2.36)
 6.60 

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