Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Blend
FHASX Fund  USD 12.36  0.01  0.08%   
The current 90-days correlation between Fidelity Freedom Blend and Fidelity Freedom Blend is -0.08 (i.e., Good 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 0.72 (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 state.

Moving together with Fidelity Mutual Fund

  0.78FPTKX Fidelity Freedom 2015PairCorr
  0.69FPURX Fidelity PuritanPairCorr
  0.69FPUKX Fidelity PuritanPairCorr
  0.83FQIFX Fidelity Freedom IndexPairCorr
  0.85FQIPX Fidelity Freedom IndexPairCorr
  0.96FQLSX Fidelity Flex FreedomPairCorr
  0.81FRAGX Aggressive GrowthPairCorr
  0.63FRASX Fidelity Income ReplPairCorr
  0.94FRGAX Growth Allocation IndexPairCorr
  0.96FRLPX Fidelity Freedom IndexPairCorr
  0.86FAASX Fidelity Asset ManagerPairCorr
  0.86FAAIX Fidelity Asset ManagerPairCorr
  0.76FABLX Fidelity Advisor BalancedPairCorr
  0.77FABCX Fidelity Advisor BalancedPairCorr
  0.62FACPX Fidelity Advisor SumerPairCorr
  0.84FACNX Fidelity CanadaPairCorr
  0.69FACGX Fidelity Advisor GrowthPairCorr

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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