Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FFAMX Fund  USD 22.56  0.10  0.45%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Freedom 2070 is -0.07 (i.e., Good 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

Almost no diversification

The correlation between Fidelity Asset Manager and DJI is 0.91 (i.e., Almost no 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 state.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.9FPXTX Fidelity PennsylvaniaPairCorr
  1.0FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.96FQITX Fidelity Salem StreetPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.97FRBDX Fidelity Freedom 2070PairCorr
  0.97FRBEX Fidelity Freedom 2070PairCorr
  1.0FRBHX Fidelity Freedom 2070PairCorr
  1.0FRBJX Fidelity Advisor FreedomPairCorr
  1.0FRBKX Fidelity Advisor FreedomPairCorr
  1.0FRBLX Fidelity Advisor FreedomPairCorr
  1.0FRBNX Fidelity Advisor FreedomPairCorr
  1.0FRBOX Fidelity Advisor FreedomPairCorr
  1.0FRBPX Fidelity Advisor FreedomPairCorr
  1.0FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBUX Fidelity Freedom IndexPairCorr
  0.99FRBVX Fidelity Freedom IndexPairCorr
  0.99FRBWX Fidelity Freedom IndexPairCorr
  0.94FRBYX Fidelity Freedom BlendPairCorr
  1.0FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.94FRCFX Fidelity Freedom BlendPairCorr
  1.0FRCHX Fidelity Freedom BlendPairCorr
  1.0FRCJX Fidelity Freedom BlendPairCorr
  1.0FRCKX Fidelity Freedom BlendPairCorr
  0.99FRCLX Fidelity Freedom BlendPairCorr
  1.0FRCNX Fidelity Freedom BlendPairCorr
  1.0FRCPX Fidelity Freedom BlendPairCorr
  0.99FRCQX Fidelity SustainablePairCorr
  0.99FRCRX Fidelity SustainablePairCorr
  0.99FRCVX Fidelity SustainablePairCorr
  0.99FRCWX Fidelity SustainablePairCorr
  0.99FRCYX Fidelity SustainablePairCorr
  0.96FRDCX Fidelity SustainablePairCorr
  0.99FRDDX Fidelity SustainablePairCorr

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
FPTKX  0.25  0.08  0.03  0.42  0.00 
(0.32)
 0.51 
(0.43)
 2.69 
FPURX  0.45  0.05  0.01  0.17  0.46 
(0.48)
 0.85 
(1.12)
 2.82 
FPUKX  0.44  0.05  0.01  0.18  0.46 
(0.46)
 0.85 
(1.12)
 2.82 
FPXTX  0.07  0.02 (0.48)(1.05) 0.00 
(0.14)
 0.19 
(0.10)
 0.66 
FQIFX  0.29  0.04 (0.05) 0.19  0.17 
(0.36)
 0.65 
(0.58)
 1.77 
FQIPX  0.49  0.05  0.04  0.17  0.48 
(0.53)
 0.99 
(1.04)
 3.10 
FQITX  0.67  0.14  0.04 (1.08) 0.73 
(0.70)
 1.55 
(1.36)
 3.78 
FQLSX  0.52  0.09  0.09  0.23  0.45 
(0.57)
 1.05 
(1.08)
 3.48 
FRBDX  0.53  0.15  0.07 (1.02) 0.54 
(0.59)
 1.02 
(1.08)
 3.36 
FRBEX  0.53  0.15  0.07 (1.02) 0.55 
(0.59)
 1.03 
(1.09)
 3.44 

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