Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex Freedom
FILSX Fund  USD 11.31  0.03  0.27%   
The current 90-days correlation between Fidelity Flex Freedom and Fidelity Freedom 2070 is -0.14 (i.e., Good diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Very poor diversification

The correlation between Fidelity Flex Freedom and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Flex Freedom 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 Flex Freedom. 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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.92FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.94FPXTX Fidelity PennsylvaniaPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.96FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.97FRBDX Fidelity Freedom 2070PairCorr
  0.97FRBEX Fidelity Freedom 2070PairCorr
  0.97FRBHX Fidelity Freedom 2070PairCorr
  0.96FRBJX Fidelity Advisor FreedomPairCorr
  0.96FRBKX Fidelity Advisor FreedomPairCorr
  0.96FRBLX Fidelity Advisor FreedomPairCorr
  0.97FRBNX Fidelity Advisor FreedomPairCorr
  0.96FRBOX Fidelity Advisor FreedomPairCorr
  0.96FRBPX Fidelity Advisor FreedomPairCorr
  0.97FRBQX Fidelity Flex FreedomPairCorr
  0.95FRBUX Fidelity Freedom IndexPairCorr
  0.95FRBVX Fidelity Freedom IndexPairCorr
  0.95FRBWX Fidelity Freedom IndexPairCorr
  0.96FRBYX Fidelity Freedom BlendPairCorr
  0.97FRBZX Fidelity Freedom BlendPairCorr
  0.94FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  0.97FRCFX Fidelity Freedom BlendPairCorr
  0.96FRCHX Fidelity Freedom BlendPairCorr
  0.96FRCJX Fidelity Freedom BlendPairCorr
  0.96FRCKX Fidelity Freedom BlendPairCorr
  0.97FRCLX Fidelity Freedom BlendPairCorr
  0.97FRCNX Fidelity Freedom BlendPairCorr
  0.97FRCPX Fidelity Freedom BlendPairCorr
  0.95FRCQX Fidelity SustainablePairCorr
  0.95FRCRX Fidelity SustainablePairCorr
  0.95FRCVX Fidelity SustainablePairCorr
  0.95FRCWX Fidelity SustainablePairCorr
  0.95FRCYX Fidelity SustainablePairCorr
  0.95FRDCX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Flex 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 Flex'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.23  0.09  0.09  0.47  0.00 
(0.31)
 0.50 
(0.33)
 2.69 
FPURX  0.43  0.05  0.01  0.17  0.41 
(0.47)
 0.85 
(0.97)
 2.82 
FPUKX  0.43  0.05  0.01  0.17  0.41 
(0.45)
 0.85 
(1.01)
 2.82 
FPXTX  0.07  0.02 (0.36)(1.68) 0.00 
(0.13)
 0.19 
(0.10)
 0.66 
FQIFX  0.28  0.05 (0.01) 0.21  0.08 
(0.36)
 0.64 
(0.49)
 1.72 
FQIPX  0.47  0.07  0.07  0.19  0.41 
(0.53)
 0.94 
(0.97)
 3.10 
FQITX  0.61  0.11  0.10  0.24  0.62 
(0.66)
 1.36 
(1.21)
 3.49 
FQLSX  0.50  0.11  0.13  0.25  0.37 
(0.58)
 1.04 
(1.07)
 3.48 
FRBDX  0.51  0.11  0.13  0.25  0.39 
(0.59)
 0.99 
(1.02)
 3.36 
FRBEX  0.51  0.12  0.13  0.25  0.38 
(0.59)
 0.97 
(1.01)
 3.44 

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