Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2040
FHTKX Fund  USD 11.88  0.09  0.75%   
The current 90-days correlation between Fidelity Freedom 2040 and Artisan Developing World is 0.17 (i.e., Average 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

Very weak diversification

The correlation between Fidelity Freedom 2040 and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2040 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 2040. 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

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.88FPURX Fidelity PuritanPairCorr
  0.88FPUKX Fidelity PuritanPairCorr
  0.65FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.64FRESX Fidelity Real EstatePairCorr
  0.81FRIFX Fidelity Real EstatePairCorr
  0.8FRIQX Fidelity Real EstatePairCorr
  0.81FRIRX Fidelity Real EstatePairCorr
  0.95FRLPX Fidelity Freedom IndexPairCorr
  0.68FROGX Fidelity Municipal IncomePairCorr
  0.95FRQIX Fidelity Income ReplPairCorr
  0.89FAASX Fidelity Asset ManagerPairCorr
  0.89FAAIX Fidelity Asset ManagerPairCorr
  0.76FACVX Fidelity ConvertiblePairCorr
  0.65FACPX Fidelity Advisor SumerPairCorr
  0.66FACNX Fidelity CanadaPairCorr
  0.88FACFX Fidelity Advisor FreedomPairCorr
  0.62FADTX Fidelity Advisor TecPairCorr
  0.75FADMX Fidelity Advisor StrPairCorr
  0.74FADAX Fidelity Advisor DividendPairCorr
  0.82FAERX Fidelity Advisor OverseasPairCorr
  0.77FAFSX Fidelity Advisor FinPairCorr
  0.78FAFDX Fidelity Advisor FinPairCorr
  0.78FAFCX Fidelity Advisor FinPairCorr
  0.93FAFAX Fidelity Advisor FreedomPairCorr
  0.79FAGKX Fidelity Growth StraPairCorr
  0.69FAIVX Fidelity Advisor EquityPairCorr

Related Correlations Analysis

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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   
IGIEX
+ 0.85
ARTYX
RYVYX
+ 0.77
ARTYX
IGIEX
+ 0.75
XMSDX
IGIEX
+ 0.72
RYVYX
XMSDX
+ 0.61
ARTYX
IGIEX
+ 0.61
ANGCX
  
High negative correlations   
EGLNX
- 0.34
ZEMIX
EGLNX
- 0.01
XMSDX

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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