Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FSCNX Fund  USD 17.25  0.24  1.41%   
The current 90-days correlation between Fidelity Asset Manager and Franklin High Yield is 0.13 (i.e., Average 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 0.87 (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 state.

Moving together with FIDELITY Mutual Fund

  1.0FPTKX Fidelity Freedom 2015PairCorr
  0.94FPURX Fidelity PuritanPairCorr
  0.94FPUKX Fidelity PuritanPairCorr
  0.92FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.94FQIPX Fidelity Freedom IndexPairCorr
  0.95FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.97FRBEX Fidelity Freedom 2070PairCorr
  0.97FRBHX Fidelity Freedom 2070PairCorr
  0.97FRBJX Fidelity Advisor FreedomPairCorr
  0.97FRBKX Fidelity Advisor FreedomPairCorr
  0.97FRBNX Fidelity Advisor FreedomPairCorr
  0.95FRBVX Fidelity Freedom IndexPairCorr
  0.94FRBWX Fidelity Freedom IndexPairCorr
  0.97FRBYX Fidelity Freedom BlendPairCorr
  0.97FRBZX Fidelity Freedom BlendPairCorr
  0.94FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  0.97FRCFX Fidelity Freedom BlendPairCorr
  0.97FRCHX Fidelity Freedom BlendPairCorr
  0.96FRCKX Fidelity Freedom BlendPairCorr
  0.95FRCWX Fidelity SustainablePairCorr
  0.95FRDCX Fidelity SustainablePairCorr
  0.95FRDEX Fidelity SustainablePairCorr
  0.93FRGAX Growth Allocation IndexPairCorr
  0.73FRESX Fidelity Real EstatePairCorr
  0.96FRIMX Fidelity Income ReplPairCorr
  0.88FRIOX Fidelity Real EstatePairCorr
  0.88FRIQX Fidelity Real EstatePairCorr
  0.96FRHMX Fidelity Managed RetPairCorr
  0.96FRKMX Fidelity Managed RetPairCorr
  0.95FRLPX Fidelity Freedom IndexPairCorr
  0.91FROGX Fidelity Municipal IncomePairCorr
  0.96FRQHX Fidelity Managed RetPairCorr
  0.96FRQIX Fidelity Income ReplPairCorr
  0.96FRQKX Fidelity Managed RetPairCorr
  0.96FRQAX Fidelity Income ReplPairCorr

Related Correlations Analysis


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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