Fidelity Asset Correlations

Mutual Funds USA . 
Fund . Fidelity Asset Manager
FEYCX Fund  USD 27.15  0.15  0.56%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 1.0 (i.e., No risk reduction). 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 0.76 (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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.9FPURX Fidelity PuritanPairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.8FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.99FRGAX Growth Allocation IndexPairCorr
  1.0FRLPX Fidelity Freedom IndexPairCorr
  1.0FAASX Fidelity Asset ManagerPairCorr
  1.0FAAIX Fidelity Asset ManagerPairCorr
  0.87FABLX Fidelity Advisor BalancedPairCorr
  0.87FABCX Fidelity Advisor BalancedPairCorr
  0.76FACVX Fidelity ConvertiblePairCorr
  0.78FACPX Fidelity Advisor SumerPairCorr
  0.93FACNX Fidelity CanadaPairCorr
  0.86FACGX Fidelity Advisor GrowthPairCorr

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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