Fidelity Freedom Correlations

FDTKX Fund

USD 14.32 0.10 0.70%

The current 90-days correlation between Fidelity Freedom 2025 and Nuveen Winslow Large Cap is 0.67 (i.e., Poor diversification). The correlation of Fidelity Freedom 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 Freedom Correlation With Market

Poor diversification

The correlation between Fidelity Freedom 2025 and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2025 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 Freedom 2025. 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 industry.

Moving together with Fidelity Mutual Fund

0.95	FPTKX	Fidelity Freedom 2015	Pair Corr
0.99	FQIFX	Fidelity Freedom Index	Pair Corr
0.81	FQIPX	Fidelity Freedom Index	Pair Corr
0.8	FQLSX	Fidelity Flex Freedom	Pair Corr
0.7	FRAGX	Aggressive Growth	Pair Corr
0.74	FRAMX	Fidelity Income Repl	Pair Corr
0.87	FRASX	Fidelity Income Repl	Pair Corr
0.78	FRGAX	Growth Allocation Index	Pair Corr
0.76	FRIMX	Fidelity Income Repl	Pair Corr
0.77	FRHMX	Fidelity Managed Ret	Pair Corr
0.76	FRKMX	Fidelity Managed Ret	Pair Corr
0.81	FRLPX	Fidelity Freedom Index	Pair Corr
0.78	FRQHX	Fidelity Managed Ret	Pair Corr
0.77	FRQIX	Fidelity Income Repl	Pair Corr
0.78	FRQKX	Fidelity Managed Ret	Pair Corr
0.76	FRQAX	Fidelity Income Repl	Pair Corr
0.84	FAASX	Fidelity Asset Manager	Pair Corr
0.83	FAAIX	Fidelity Asset Manager	Pair Corr
0.63	FABLX	Fidelity Advisor Balanced	Pair Corr
0.65	FABCX	Fidelity Advisor Balanced	Pair Corr
0.65	FACNX	Fidelity Canada	Pair Corr
0.84	FACFX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.32

FRPDX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	NWCAX	FMSTX	LBWCX	SLCAX	PLAAX	OWLSX	QCERX	RHSAX
NWCAX		0.94	0.91	0.97	0.99	0.96	0.97	0.84	NWCAX
FMSTX	0.94		0.98	0.99	0.96	0.94	0.97	0.77	FMSTX
LBWCX	0.91	0.98		0.96	0.93	0.9	0.96	0.75	LBWCX
SLCAX	0.97	0.99	0.96		0.98	0.98	0.98	0.84	SLCAX
PLAAX	0.99	0.96	0.93	0.98		0.96	0.97	0.84	PLAAX
OWLSX	0.96	0.94	0.9	0.98	0.96		0.97	0.87	OWLSX
QCERX	0.97	0.97	0.96	0.98	0.97	0.97		0.85	QCERX
RHSAX	0.84	0.77	0.75	0.84	0.84	0.87	0.85		RHSAX
	NWCAX	FMSTX	LBWCX	SLCAX	PLAAX	OWLSX	QCERX	RHSAX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Freedom 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 Freedom'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
NWCAX	0.79	(0.01)	(0.01)	0.11	1.19	(0.76)	1.80	(2.37)	5.27
FMSTX	0.53	0.06	0.06	0.19	0.30	(0.63)	1.14	(0.89)	3.58
LBWCX	0.59	0.01	0.01	0.13	0.36	(0.73)	1.27	(0.93)	4.72
SLCAX	0.54	0.01	(0.01)	0.13	0.55	(0.60)	1.19	(1.11)	3.63
PLAAX	0.63	0.01	(0.01)	0.13	0.92	(0.61)	1.45	(1.94)	4.19
OWLSX	0.51	(0.02)	(0.07)	0.09	0.63	(0.56)	1.21	(1.18)	3.44
QCERX	0.64	(0.01)	(0.01)	0.11	0.72	(0.70)	1.52	(1.22)	4.31
RHSAX	0.93	(0.11)	(0.04)	0.04	1.34	(1.00)	1.97	(2.49)	7.38

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