Fidelity Freedom Correlations

FJTKX Fund  USD 13.89  0.09  0.64%   
The current 90-days correlation between Fidelity Freedom 2045 and Ab Bond Inflation is 0.29 (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 0.53 (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

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.89FPURX Fidelity PuritanPairCorr
  0.89FPUKX Fidelity PuritanPairCorr
  0.67FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.9FQITX Fidelity Salem StreetPairCorr
  0.96FQLSX Fidelity Flex FreedomPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.99FRGAX Growth Allocation IndexPairCorr
  0.88FRIFX Fidelity Real EstatePairCorr
  0.96FRIMX Fidelity Income ReplPairCorr
  0.87FRINX Fidelity Real EstatePairCorr
  0.85FRIOX Fidelity Real EstatePairCorr
  0.87FRIQX Fidelity Real EstatePairCorr
  0.96FRHMX Fidelity Managed RetPairCorr
  0.96FRKMX Fidelity Managed RetPairCorr
  0.87FRIRX Fidelity Real EstatePairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  0.65FROGX Fidelity Municipal IncomePairCorr
  0.96FRQHX Fidelity Managed RetPairCorr
  0.96FRQIX Fidelity Income ReplPairCorr
  0.96FRQKX Fidelity Managed RetPairCorr
  0.96FRQAX Fidelity Income ReplPairCorr
  0.71FAASX Fidelity Asset ManagerPairCorr
  0.71FAAIX Fidelity Asset ManagerPairCorr
  0.69FACGX Fidelity Advisor GrowthPairCorr
  0.97FACFX Fidelity Advisor FreedomPairCorr
  0.91FADMX Fidelity Advisor StrPairCorr

Related Correlations Analysis

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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.