Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Blend
FHAYX Fund  USD 10.11  0.04  0.40%   
The current 90-days correlation between Fidelity Freedom Blend and Fidelity Income Replacement is 0.2 (i.e., Modest 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

Significant diversification

The correlation between Fidelity Freedom Blend and DJI is 0.09 (i.e., Significant 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 manufacturing.

Moving together with Fidelity Mutual Fund

  0.92FPTKX Fidelity Freedom 2015PairCorr
  0.77FPURX Fidelity PuritanPairCorr
  0.77FPUKX Fidelity PuritanPairCorr
  0.73FPXTX Fidelity PennsylvaniaPairCorr
  0.9FQIFX Fidelity Freedom IndexPairCorr
  0.83FQIPX Fidelity Freedom IndexPairCorr
  0.72FQITX Fidelity Salem StreetPairCorr
  0.88FQLSX Fidelity Flex FreedomPairCorr
  0.77FRAGX Aggressive GrowthPairCorr
  0.92FRAMX Fidelity Income ReplPairCorr
  0.92FRASX Fidelity Income ReplPairCorr
  0.8FRGAX Growth Allocation IndexPairCorr
  0.64FRESX Fidelity Real EstatePairCorr
  0.8FRIFX Fidelity Real EstatePairCorr
  0.92FRIMX Fidelity Income ReplPairCorr
  0.8FRINX Fidelity Real EstatePairCorr
  0.78FRIOX Fidelity Real EstatePairCorr
  0.8FRIQX Fidelity Real EstatePairCorr
  0.92FRHMX Fidelity Managed RetPairCorr
  0.92FRKMX Fidelity Managed RetPairCorr
  0.8FRIRX Fidelity Real EstatePairCorr
  0.83FRLPX Fidelity Freedom IndexPairCorr
  0.78FROGX Fidelity Municipal IncomePairCorr
  0.92FRQHX Fidelity Managed RetPairCorr
  0.92FRQIX Fidelity Income ReplPairCorr
  0.92FRQKX Fidelity Managed RetPairCorr
  0.92FRQAX Fidelity Income ReplPairCorr
  0.82FAASX Fidelity Asset ManagerPairCorr
  0.82FAAIX Fidelity Asset ManagerPairCorr
  0.69FACVX Fidelity ConvertiblePairCorr
  0.61FACPX Fidelity Advisor SumerPairCorr
  0.63FACNX Fidelity CanadaPairCorr
  1.0FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.31FRPCX Fidelity Sai AlternativePairCorr

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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