Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FFTMX Fund  USD 22.24  0.05  0.23%   
The current 90-days correlation between Fidelity Asset Manager and Vanguard Strategic Equity is -0.08 (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

Very poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.89 (i.e., Very 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 industry.

Moving together with Fidelity Mutual Fund

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.93FPURX Fidelity PuritanPairCorr
  0.93FPUKX Fidelity PuritanPairCorr
  0.85FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.96FQIPX Fidelity Freedom IndexPairCorr
  0.96FQITX Fidelity Salem StreetPairCorr
  0.96FQLSX Fidelity Flex FreedomPairCorr
  0.99FRBEX Fidelity Freedom 2070PairCorr
  0.99FRBHX Fidelity Freedom 2070PairCorr
  1.0FRBJX Fidelity Advisor FreedomPairCorr
  1.0FRBKX Fidelity Advisor FreedomPairCorr
  1.0FRBNX Fidelity Advisor FreedomPairCorr
  1.0FRBVX Fidelity Freedom IndexPairCorr
  1.0FRBWX Fidelity Freedom IndexPairCorr
  1.0FRBYX Fidelity Freedom BlendPairCorr
  0.99FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.99FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  0.99FRCFX Fidelity Freedom BlendPairCorr
  1.0FRCHX Fidelity Freedom BlendPairCorr
  1.0FRCKX Fidelity Freedom BlendPairCorr
  1.0FRCWX Fidelity SustainablePairCorr
  1.0FRDCX Fidelity SustainablePairCorr
  1.0FRDEX Fidelity SustainablePairCorr
  0.95FRGAX Growth Allocation IndexPairCorr
  0.69FRESX Fidelity Real EstatePairCorr
  0.95FRIMX Fidelity Income ReplPairCorr
  0.85FRIOX Fidelity Real EstatePairCorr
  0.88FRIQX Fidelity Real EstatePairCorr
  0.95FRHMX Fidelity Managed RetPairCorr
  0.95FRKMX Fidelity Managed RetPairCorr
  0.96FRLPX Fidelity Freedom IndexPairCorr
  0.85FROGX Fidelity Municipal IncomePairCorr
  0.95FRQHX Fidelity Managed RetPairCorr
  0.95FRQIX Fidelity Income ReplPairCorr
  0.95FRQKX Fidelity Managed RetPairCorr
  0.99FRQAX Fidelity Income ReplPairCorr

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.

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