Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2040
FHTKX Fund  USD 12.11  0.03  0.25%   
The current 90-days correlation between Fidelity Freedom 2040 and T Rowe Price is 0.8 (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

Very weak diversification

The correlation between Fidelity Freedom 2040 and DJI is 0.49 (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

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.94FPURX Fidelity PuritanPairCorr
  0.94FPUKX Fidelity PuritanPairCorr
  0.72FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.84FQITX Fidelity Salem StreetPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.96FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.65FRESX Fidelity Real EstatePairCorr
  0.89FRIFX Fidelity Real EstatePairCorr
  0.89FRINX Fidelity Real EstatePairCorr
  0.87FRIOX Fidelity Real EstatePairCorr
  0.88FRIQX Fidelity Real EstatePairCorr
  0.95FRHMX Fidelity Managed RetPairCorr
  0.95FRKMX Fidelity Managed RetPairCorr
  0.89FRIRX Fidelity Real EstatePairCorr
  0.97FRLPX Fidelity Freedom IndexPairCorr
  0.72FROGX Fidelity Municipal IncomePairCorr
  0.96FRQIX Fidelity Income ReplPairCorr
  0.96FRQKX Fidelity Managed RetPairCorr
  0.96FRQAX Fidelity Income ReplPairCorr
  0.8FAASX Fidelity Asset ManagerPairCorr
  0.8FAAIX Fidelity Asset ManagerPairCorr
  0.64FACVX Fidelity ConvertiblePairCorr
  0.67FACPX Fidelity Advisor SumerPairCorr
  0.62FACNX Fidelity CanadaPairCorr
  0.97FACFX Fidelity Advisor FreedomPairCorr
  0.86FAERX Fidelity Advisor OverseasPairCorr
  0.81FAFSX Fidelity Advisor FinPairCorr
  1.0FAFFX Fidelity Advisor FreedomPairCorr

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   
WABMSX
+ 0.67
PRNHX
WABMSX
+ 0.66
GMLVX
GMLVX
+ 0.53
PRNHX
MFTFX
+ 0.18
GMLVX
  
High negative correlations   
MFTFX
- 0.31
PRNHX
WABMSX
- 0.22
MFTFX

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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