Fidelity Asset Correlations

Mutual Funds USA . 
Fund . Fidelity Asset Manager
FSAAX Fund  USD 16.13  0.04  0.25%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Advisor Balanced is 0.78 (i.e., Poor diversification). The correlation of Fidelity Asset 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 Asset Correlation With Market

Poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Asset Manager 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 Asset Manager. 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 nation.

Moving together with Fidelity Mutual Fund

  0.75FPTKX Fidelity Freedom 2015PairCorr
  0.81FPURX Fidelity PuritanPairCorr
  0.8FPUKX Fidelity PuritanPairCorr
  0.91FQIFX Fidelity Freedom IndexPairCorr
  0.97FQIPX Fidelity Freedom IndexPairCorr
  0.96FQLSX Fidelity Flex FreedomPairCorr
  0.61FRASX Fidelity Income ReplPairCorr
  0.96FRGAX Growth Allocation IndexPairCorr
  0.97FRLPX Fidelity Freedom IndexPairCorr
  0.99FAASX Fidelity Asset ManagerPairCorr
  0.99FAAIX Fidelity Asset ManagerPairCorr
  0.82FABLX Fidelity Advisor BalancedPairCorr
  0.83FABCX Fidelity Advisor BalancedPairCorr
  0.61FACVX Fidelity ConvertiblePairCorr
  0.7FACPX Fidelity Advisor SumerPairCorr
  0.88FACNX Fidelity CanadaPairCorr
  0.73FACGX Fidelity Advisor GrowthPairCorr
  0.82FADAX Fidelity Advisor DividendPairCorr
  0.98FAFFX Fidelity Advisor FreedomPairCorr
  0.72FAGOX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Asset 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 Asset'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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