Fidelity Asset Correlations

FFIMX Fund

USD 21.39 0.09 0.42%

The current 90-days correlation between Fidelity Asset Manager and Fidelity Sustainable International is 0.83 (i.e., Very poor 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

Poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.71 (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 population.

Moving together with Fidelity Mutual Fund

0.78	FPTKX	Fidelity Freedom 2015	Pair Corr
0.78	FPURX	Fidelity Puritan	Pair Corr
0.78	FPUKX	Fidelity Puritan	Pair Corr
0.94	FQIFX	Fidelity Freedom Index	Pair Corr
0.94	FQIPX	Fidelity Freedom Index	Pair Corr
0.93	FQLSX	Fidelity Flex Freedom	Pair Corr
0.9	FRAGX	Aggressive Growth	Pair Corr
0.64	FRASX	Fidelity Income Repl	Pair Corr
0.95	FRGAX	Growth Allocation Index	Pair Corr
0.94	FRLPX	Fidelity Freedom Index	Pair Corr
0.97	FAASX	Fidelity Asset Manager	Pair Corr
0.97	FAAIX	Fidelity Asset Manager	Pair Corr
0.75	FABLX	Fidelity Advisor Balanced	Pair Corr
0.76	FABCX	Fidelity Advisor Balanced	Pair Corr
0.61	FACVX	Fidelity Convertible	Pair Corr
0.7	FACPX	Fidelity Advisor Sumer	Pair Corr
0.86	FACNX	Fidelity Canada	Pair Corr
0.68	FACGX	Fidelity Advisor Growth	Pair Corr

Moving against Fidelity Mutual Fund

0.37

FRPDX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	FSYRX	FLOWX	FNIDX	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3
FSYRX		-0.18	0.89	0.0	-0.23	0.06	-0.74	0.1	-0.73	-0.81	FSYRX
FLOWX	-0.18		0.07	0.0	0.75	0.85	0.38	0.9	0.39	0.43	FLOWX
FNIDX	0.89	0.07		0.0	0.04	0.42	-0.72	0.32	-0.65	-0.65	FNIDX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
LBHIX	-0.23	0.75	0.04	0.0		0.69	0.3	0.77	0.38	0.29	LBHIX
MSTSX	0.06	0.85	0.42	0.0	0.69		-0.01	0.86	0.07	0.24	MSTSX
VIASP	-0.74	0.38	-0.72	0.0	0.3	-0.01		0.16	0.83	0.63	VIASP
RRTLX	0.1	0.9	0.32	0.0	0.77	0.86	0.16		0.23	0.12	RRTLX
OSHDF	-0.73	0.39	-0.65	0.0	0.38	0.07	0.83	0.23		0.52	OSHDF
70082LAB3	-0.81	0.43	-0.65	0.0	0.29	0.24	0.63	0.12	0.52		70082LAB3
	FSYRX	FLOWX	FNIDX	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RRTLX	+ 0.9	FLOWX
FNIDX	+ 0.89	FSYRX
RRTLX	+ 0.86	MSTSX
MSTSX	+ 0.85	FLOWX
OSHDF	+ 0.83	VIASP
RRTLX	+ 0.77	LBHIX

High negative correlations

70082LAB3	- 0.81	FSYRX
VIASP	- 0.74	FSYRX
OSHDF	- 0.73	FSYRX
VIASP	- 0.72	FNIDX
70082LAB3	- 0.65	FNIDX
OSHDF	- 0.65	FNIDX

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
FSYRX	0.71	(0.13)	0.00	(0.12)	0.00	0.00	1.54	(1.57)	4.56
FLOWX	0.66	(0.03)	(0.08)	0.09	0.72	(0.72)	1.33	(1.28)	3.97
FNIDX	0.68	(0.10)	0.00	(0.09)	0.00	0.00	1.44	(1.41)	4.65
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LBHIX	0.12	0.01	(0.44)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.08	0.50	(0.60)	1.21	(1.02)	2.80
VIASP	0.75	0.08	(0.04)	(1.44)	1.13	(0.82)	2.28	(1.20)	7.18
RRTLX	0.23	(0.02)	(0.30)	0.07	0.23	(0.25)	0.48	(0.56)	1.36
OSHDF	39.65	20.25	0.00	(19.11)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.63	0.00	(0.12)	(0.21)	1.03	(0.68)	1.66	(1.19)	4.03

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