Fidelity Freedom Correlations

FJTKX Fund  USD 13.89  0.09  0.64%   
The current 90-days correlation between Fidelity Freedom 2045 and Schwab Health Care is 0.22 (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

FidelityDowDiversified AwayFidelityDowDiversified Away100%

Very weak diversification

The correlation between Fidelity Freedom 2045 and DJI is 0.43 (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 2045 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 2045. 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

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.83FPURX Fidelity PuritanPairCorr
  0.83FPUKX Fidelity PuritanPairCorr
  0.61FPXTX Fidelity PennsylvaniaPairCorr
  0.92FQIFX Fidelity Freedom IndexPairCorr
  0.93FQIPX Fidelity Freedom IndexPairCorr
  0.8FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.92FRAGX Aggressive GrowthPairCorr
  0.91FRAMX Fidelity Income ReplPairCorr
  0.92FRASX Fidelity Income ReplPairCorr
  0.92FRGAX Growth Allocation IndexPairCorr
  0.66FRESX Fidelity Real EstatePairCorr
  0.89FRIFX Fidelity Real EstatePairCorr
  0.91FRIMX Fidelity Income ReplPairCorr
  0.89FRINX Fidelity Real EstatePairCorr
  0.88FRIOX Fidelity Real EstatePairCorr
  0.88FRIQX Fidelity Real EstatePairCorr
  0.91FRHMX Fidelity Managed RetPairCorr
  0.91FRKMX Fidelity Managed RetPairCorr
  0.89FRIRX Fidelity Real EstatePairCorr
  0.93FRLPX Fidelity Freedom IndexPairCorr
  0.91FRQHX Fidelity Managed RetPairCorr
  0.91FRQIX Fidelity Income ReplPairCorr
  0.91FRQKX Fidelity Managed RetPairCorr
  0.91FRQAX Fidelity Income ReplPairCorr
  0.74FAASX Fidelity Asset ManagerPairCorr
  0.74FAAIX Fidelity Asset ManagerPairCorr
  0.65FACNX Fidelity CanadaPairCorr
  0.93FACFX Fidelity Advisor FreedomPairCorr
  0.84FADMX Fidelity Advisor StrPairCorr

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   
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High negative correlations   
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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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