Fidelity Freedom Correlations

FFFAX Fund

USD 11.43 0.01 0.09%

The current 90-days correlation between Fidelity Freedom Income and Calvert Small Cap is 0.32 (i.e., Weak 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

Almost no diversification

The correlation between Fidelity Freedom Income and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Income 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 Income. 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 nation.

Moving together with Fidelity Mutual Fund

0.95	FPUKX	Fidelity Puritan	Pair Corr
0.78	FPXTX	Fidelity Pennsylvania	Pair Corr
0.92	FRCKX	Fidelity Freedom Blend	Pair Corr
0.91	FRCQX	Fidelity Sustainable	Pair Corr
1.0	FRIMX	Fidelity Income Repl	Pair Corr
1.0	FRKMX	Fidelity Managed Ret	Pair Corr
0.98	FAAIX	Fidelity Asset Manager	Pair Corr
0.95	FAGIX	Fidelity Capital Income	Pair Corr
0.9	FTF	Franklin Templeton	Pair Corr
0.87	FSAHX	Fidelity Short Duration	Pair Corr
0.88	FSAWX	Fidelity Sai Convertible	Pair Corr
0.97	FAMRX	Fidelity Asset Manager	Pair Corr
0.92	FSCIX	Fidelity Advisor Small	Pair Corr
0.91	FSELX	Fidelity Select Semi	Pair Corr
0.89	FSEBX	Fidelity Advisor Sus	Pair Corr
0.99	FASIX	Fidelity Asset Manager	Pair Corr
0.79	FSHOX	Construction And Housing	Pair Corr
0.86	FSIKX	Fidelity Sustainable	Pair Corr
0.8	FSLEX	Environment And Alte	Pair Corr
0.9	FSKAX	Fidelity Total Market	Pair Corr
0.96	FSMDX	Fidelity Mid Cap	Pair Corr
0.79	FSMNX	Fidelity Sai Municipal	Pair Corr
0.64	FSTGX	Fidelity Intermediate	Pair Corr
0.92	FSSNX	Fidelity Small Cap	Pair Corr
0.89	FSZZX	Fidelity Advisor Sus	Pair Corr
0.9	FSYRX	Fidelity Sustainable	Pair Corr
0.98	FBIFX	Fidelity Freedom Index	Pair Corr
0.97	FTIEX	Fidelity Total Inter	Pair Corr
0.9	FCAGX	Fidelity Small Cap	Pair Corr
0.88	FTRNX	Fidelity Trend	Pair Corr
0.91	FCLCX	Fidelity Advisor Ind	Pair Corr
0.91	FCLAX	Fidelity Advisor Ind	Pair Corr
0.96	FCLKX	Fidelity Large Cap	Pair Corr
0.89	FCNTX	Fidelity Contrafund	Pair Corr
0.92	FCPIX	Fidelity Advisor Int	Pair Corr
0.82	FUEMX	Fidelity Flex Servative	Pair Corr
0.91	FCPVX	Fidelity Small Cap	Pair Corr
0.9	FCTGX	Fidelity Small Cap	Pair Corr

Moving against Fidelity Mutual Fund

0.47

FSUTX

Utilities Portfolio

Pair Corr

Related Correlations Analysis

	FHAOX	FFSFX	FHAUX	NZF	NHFIX	ETY	FIDLX	WGROX	FSCRX	CSVIX
FHAOX		1.0	1.0	0.31	0.91	0.24	-0.29	0.94	0.91	0.85	FHAOX
FFSFX	1.0		0.99	0.31	0.91	0.22	-0.3	0.94	0.91	0.86	FFSFX
FHAUX	1.0	0.99		0.28	0.89	0.27	-0.29	0.94	0.9	0.83	FHAUX
NZF	0.31	0.31	0.28		0.47	0.04	0.24	0.21	0.38	0.32	NZF
NHFIX	0.91	0.91	0.89	0.47		0.12	-0.12	0.87	0.91	0.82	NHFIX
ETY	0.24	0.22	0.27	0.04	0.12		0.08	0.08	0.03	-0.15	ETY
FIDLX	-0.29	-0.3	-0.29	0.24	-0.12	0.08		-0.34	-0.19	-0.35	FIDLX
WGROX	0.94	0.94	0.94	0.21	0.87	0.08	-0.34		0.87	0.88	WGROX
FSCRX	0.91	0.91	0.9	0.38	0.91	0.03	-0.19	0.87		0.91	FSCRX
CSVIX	0.85	0.86	0.83	0.32	0.82	-0.15	-0.35	0.88	0.91		CSVIX
	FHAOX	FFSFX	FHAUX	NZF	NHFIX	ETY	FIDLX	WGROX	FSCRX	CSVIX

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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

FFSFX	+ 1.0	FHAOX
FHAUX	+ 1.0	FHAOX
FHAUX	+ 0.99	FFSFX
WGROX	+ 0.94	FHAOX
WGROX	+ 0.94	FFSFX
WGROX	+ 0.94	FHAUX

High negative correlations

CSVIX	- 0.35	FIDLX
WGROX	- 0.34	FIDLX
FIDLX	- 0.3	FFSFX
FIDLX	- 0.29	FHAUX
FIDLX	- 0.29	FHAOX
FSCRX	- 0.19	FIDLX

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
FHAOX	0.51	0.04	0.02	0.12	0.62	(0.52)	1.03	(1.28)	2.84
FFSFX	0.52	0.04	0.03	0.12	0.67	(0.52)	1.01	(1.23)	2.78
FHAUX	0.31	0.01	(0.06)	0.10	0.34	(0.34)	0.67	(0.73)	1.78
NZF	0.41	(0.03)	(0.14)	(0.05)	0.53	(0.41)	0.83	(0.82)	2.88
NHFIX	0.12	0.02	(0.27)	0.31	0.00	(0.26)	0.33	(0.17)	0.99
ETY	0.62	(0.07)	0.00	(0.03)	0.00	0.00	1.18	(1.35)	3.53
FIDLX	0.35	(0.10)	0.00	0.73	0.00	0.00	0.58	(1.34)	3.07
WGROX	1.04	0.08	0.09	0.13	0.90	(1.24)	2.23	(1.91)	12.56
FSCRX	0.79	0.12	0.07	0.51	0.79	(0.87)	2.09	(1.65)	4.50
CSVIX	0.99	0.12	0.19	0.15	0.52	(1.37)	2.07	(1.33)	17.07

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