Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FSANX Fund  USD 18.16  0.02  0.11%   
The current 90-days correlation between Fidelity Asset Manager and Transamerica International Equity is 0.7 (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

Very poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.81 (i.e., Very 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 employment.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.77FPURX Fidelity PuritanPairCorr
  0.77FPUKX Fidelity PuritanPairCorr
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.98FRBDX Fidelity Freedom 2070PairCorr
  0.98FRBEX Fidelity Freedom 2070PairCorr
  0.98FRBHX Fidelity Freedom 2070PairCorr
  0.96FRBJX Fidelity Advisor FreedomPairCorr
  0.96FRBKX Fidelity Advisor FreedomPairCorr
  0.96FRBLX Fidelity Advisor FreedomPairCorr
  0.97FRBOX Fidelity Advisor FreedomPairCorr
  0.97FRBPX Fidelity Advisor FreedomPairCorr
  0.98FRBQX Fidelity Flex FreedomPairCorr
  0.99FRBUX Fidelity Freedom IndexPairCorr
  0.99FRBVX Fidelity Freedom IndexPairCorr
  0.99FRBWX Fidelity Freedom IndexPairCorr
  0.98FRBZX Fidelity Freedom BlendPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  0.98FRCHX Fidelity Freedom BlendPairCorr
  0.97FRCLX Fidelity Freedom BlendPairCorr
  0.98FRCPX Fidelity Freedom BlendPairCorr
  0.61FRCQX Fidelity SustainablePairCorr
  0.99FRCRX Fidelity SustainablePairCorr
  0.99FRCVX Fidelity SustainablePairCorr
  0.99FRDCX Fidelity SustainablePairCorr
  0.99FRDDX Fidelity SustainablePairCorr
  0.61FRDEX Fidelity SustainablePairCorr
  0.99FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


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

MISAX
+ 0.89
DFSPX
DFSPX
+ 0.84
FTANX
DFSPX
+ 0.84
JSEAX
MISAX
+ 0.83
FTANX
DUSLX
+ 0.81
MSEGX
SWLGX
+ 0.76
FTANX
  

High negative correlations

MISAX
- 0.69
DIPSX
DFSPX
- 0.47
DIPSX
DIPSX
- 0.29
FTANX
MISAX
- 0.15
MSEGX
JSEAX
- 0.14
DIPSX
MSEGX
- 0.11
FTANX

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TSWIX  0.72 (0.08) 0.00 (0.01) 0.00 
 0.00 
 1.17 
(1.22)
 9.52 
FTANX  0.22  0.00 (0.13) 0.07  0.22 
(0.24)
 0.47 
(0.47)
 1.26 
MSEGX  1.50 (0.18) 0.00 (0.05) 0.00 
 0.00 
 3.00 
(3.51)
 8.01 
RBAIX  0.48 (0.09) 0.00 (0.06) 0.00 
 0.00 
 0.82 
(0.96)
 7.21 
DUSLX  0.50 (0.06)(0.09) 0.00  0.73 
(0.48)
 0.99 
(1.03)
 2.83 
SWLGX  0.75 (0.03)(0.03) 0.04  1.15 
(0.72)
 1.70 
(1.84)
 4.38 
DIPSX  0.16 (0.03) 0.00  1.67  0.00 
 0.00 
 0.27 
(0.35)
 1.16 
JSEAX  0.62 (0.02)(0.03) 0.05  0.80 
(0.60)
 1.11 
(1.46)
 3.15 
DFSPX  0.60  0.00 (0.02) 0.07  0.73 
(0.61)
 1.11 
(1.28)
 2.60 
MISAX  0.61  0.02  0.01  0.10  0.83 
(0.57)
 1.15 
(1.32)
 3.11 

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