Fidelity Asset Correlations

FFAMX Fund

USD 20.76 0.09 0.43%

The current 90-days correlation between Fidelity Asset Manager and Rationalpier 88 Convertible is 0.24 (i.e., Modest 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 0.39 (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 population.

Moving together with Fidelity Mutual Fund

0.95	FPTKX	Fidelity Freedom 2015	Pair Corr
0.8	FPURX	Fidelity Puritan	Pair Corr
0.8	FPUKX	Fidelity Puritan	Pair Corr
0.73	FPXTX	Fidelity Pennsylvania	Pair Corr
0.98	FQIFX	Fidelity Freedom Index	Pair Corr
0.83	FQIPX	Fidelity Freedom Index	Pair Corr
0.97	FQLSX	Fidelity Flex Freedom	Pair Corr
0.78	FRAGX	Aggressive Growth	Pair Corr
0.9	FRAMX	Fidelity Income Repl	Pair Corr
0.9	FRASX	Fidelity Income Repl	Pair Corr
0.8	FRGAX	Growth Allocation Index	Pair Corr
0.76	FRESX	Fidelity Real Estate	Pair Corr
0.81	FRIFX	Fidelity Real Estate	Pair Corr
0.89	FRIMX	Fidelity Income Repl	Pair Corr
0.81	FRINX	Fidelity Real Estate	Pair Corr
0.8	FRIOX	Fidelity Real Estate	Pair Corr
0.81	FRIQX	Fidelity Real Estate	Pair Corr
0.89	FRHMX	Fidelity Managed Ret	Pair Corr
0.89	FRKMX	Fidelity Managed Ret	Pair Corr
0.81	FRIRX	Fidelity Real Estate	Pair Corr
0.83	FRLPX	Fidelity Freedom Index	Pair Corr
0.76	FROGX	Fidelity Municipal Income	Pair Corr
0.89	FRQHX	Fidelity Managed Ret	Pair Corr
0.89	FRQIX	Fidelity Income Repl	Pair Corr
0.89	FRQKX	Fidelity Managed Ret	Pair Corr
0.9	FRQAX	Fidelity Income Repl	Pair Corr
0.99	FAASX	Fidelity Asset Manager	Pair Corr
0.99	FAAIX	Fidelity Asset Manager	Pair Corr
0.88	FACVX	Fidelity Convertible	Pair Corr
0.74	FACTX	Fidelity Advisor Health	Pair Corr
0.63	FACPX	Fidelity Advisor Sumer	Pair Corr
0.74	FACNX	Fidelity Canada	Pair Corr
0.86	FACFX	Fidelity Advisor Freedom	Pair Corr
0.75	FACDX	Fidelity Advisor Health	Pair Corr
0.8	FADTX	Fidelity Advisor Tec	Pair Corr
0.67	FADMX	Fidelity Advisor Str	Pair Corr

Moving against Fidelity Mutual Fund

0.45

FRPCX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	PBXIX	TSDCX	LSHEX	MGGNX	BXHCX	MDMTX	PRVBX	TTRBX
PBXIX		-0.08	0.72	0.73	0.55	0.84	0.34	0.6	PBXIX
TSDCX	-0.08		-0.14	-0.02	0.66	0.17	0.41	0.34	TSDCX
LSHEX	0.72	-0.14		0.25	0.26	0.47	0.14	0.19	LSHEX
MGGNX	0.73	-0.02	0.25		0.44	0.87	0.24	0.76	MGGNX
BXHCX	0.55	0.66	0.26	0.44		0.67	0.64	0.69	BXHCX
MDMTX	0.84	0.17	0.47	0.87	0.67		0.46	0.84	MDMTX
PRVBX	0.34	0.41	0.14	0.24	0.64	0.46		0.74	PRVBX
TTRBX	0.6	0.34	0.19	0.76	0.69	0.84	0.74		TTRBX
	PBXIX	TSDCX	LSHEX	MGGNX	BXHCX	MDMTX	PRVBX	TTRBX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MDMTX	+ 0.87	MGGNX
MDMTX	+ 0.84	PBXIX
TTRBX	+ 0.84	MDMTX
TTRBX	+ 0.76	MGGNX
TTRBX	+ 0.74	PRVBX
MGGNX	+ 0.73	PBXIX

High negative correlations

LSHEX	- 0.14	TSDCX
TSDCX	- 0.08	PBXIX
MGGNX	- 0.02	TSDCX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PBXIX	0.40	0.01	(0.13)	0.54	0.55	(0.40)	0.81	(0.80)	3.28
TSDCX	0.05	0.01	0.00	1.77	0.00	0.00	0.11	(0.11)	0.66
LSHEX	2.14	0.07	0.02	0.15	3.34	(2.03)	3.51	(5.76)	20.04
MGGNX	0.16	(0.02)	0.00	(0.34)	0.00	0.00	0.35	(0.35)	1.05
BXHCX	0.12	0.02	(0.29)	(1.58)	0.00	(0.20)	0.37	(0.25)	1.11
MDMTX	0.19	0.00	(0.20)	0.06	0.25	(0.26)	0.48	(0.56)	1.72
PRVBX	0.10	(0.01)	(0.80)	(0.04)	0.05	(0.13)	0.25	(0.19)	0.58
TTRBX	0.15	(0.01)	(0.48)	(0.11)	0.14	(0.20)	0.41	(0.30)	1.01

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC