Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FIPFX Fund  USD 26.85  0.21  0.78%   
The current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom Index is 1.0 (i.e., No risk reduction). 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 Index and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Index 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 Index. 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 census.

Moving together with Fidelity Mutual Fund

  0.83FPTKX Fidelity Freedom 2015PairCorr
  0.95FPURX Fidelity PuritanPairCorr
  0.86FPUKX Fidelity PuritanPairCorr
  0.63FPXTX Fidelity PennsylvaniaPairCorr
  0.89FQIFX Fidelity Freedom IndexPairCorr
  0.88FQIPX Fidelity Freedom IndexPairCorr
  0.72FQITX Fidelity Salem StreetPairCorr
  0.81FQLSX Fidelity Flex FreedomPairCorr
  0.87FRAGX Aggressive GrowthPairCorr
  0.83FRAMX Fidelity Income ReplPairCorr
  0.85FRASX Fidelity Income ReplPairCorr
  0.88FRGAX Growth Allocation IndexPairCorr
  0.74FRIFX Fidelity Real EstatePairCorr
  0.92FRIMX Fidelity Income ReplPairCorr
  0.74FRINX Fidelity Real EstatePairCorr
  0.71FRIOX Fidelity Real EstatePairCorr
  0.68FRIQX Fidelity Real EstatePairCorr
  0.93FRHMX Fidelity Managed RetPairCorr
  0.93FRKMX Fidelity Managed RetPairCorr
  0.73FRIRX Fidelity Real EstatePairCorr
  0.88FRLPX Fidelity Freedom IndexPairCorr
  0.68FROGX Fidelity Municipal IncomePairCorr
  0.93FRQHX Fidelity Managed RetPairCorr
  0.93FRQIX Fidelity Income ReplPairCorr
  0.93FRQKX Fidelity Managed RetPairCorr
  0.84FRQAX Fidelity Income ReplPairCorr
  0.65FAASX Fidelity Asset ManagerPairCorr
  0.72FAAIX Fidelity Asset ManagerPairCorr
  0.65FACVX Fidelity VertiblePairCorr
  0.76FACPX Fidelity Advisor SumerPairCorr
  0.92FACFX Fidelity Advisor FreedomPairCorr
  0.81FADMX Fidelity Advisor StrPairCorr

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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