Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Blend
FHAQX Fund  USD 13.16  0.01  0.08%   
The current 90-days correlation between Fidelity Freedom Blend and Qs Large Cap is 0.89 (i.e., Very poor 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

Poor diversification

The correlation between Fidelity Freedom Blend and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Blend 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 Blend. 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 producer price index.

Moving together with Fidelity Mutual Fund

  0.61FPTKX Fidelity Freedom 2015PairCorr
  0.81FPURX Fidelity PuritanPairCorr
  0.81FPUKX Fidelity PuritanPairCorr
  0.74FQIFX Fidelity Freedom IndexPairCorr
  0.91FQIPX Fidelity Freedom IndexPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  0.89FRAGX Aggressive GrowthPairCorr
  1.0FRLPX Fidelity Freedom IndexPairCorr
  0.9FAASX Fidelity Asset ManagerPairCorr
  0.9FAAIX Fidelity Asset ManagerPairCorr
  0.85FABLX Fidelity Advisor BalancedPairCorr
  0.85FABCX Fidelity Advisor BalancedPairCorr
  0.67FACVX Fidelity ConvertiblePairCorr
  0.72FACPX Fidelity Advisor SumerPairCorr
  0.91FACNX Fidelity CanadaPairCorr
  0.83FACGX Fidelity Advisor GrowthPairCorr
  0.78FADTX Fidelity Advisor TecPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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