Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2020
FSNOX Fund  USD 14.66  0.07  0.48%   
The current 90-days correlation between Fidelity Freedom 2020 and Invesco Technology Fund is 0.57 (i.e., Very weak 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

Very weak diversification

The correlation between Fidelity Freedom 2020 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 2020 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 2020. 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 persons.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.75FPURX Fidelity PuritanPairCorr
  0.74FPUKX Fidelity PuritanPairCorr
  0.67FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.83FQIPX Fidelity Freedom IndexPairCorr
  0.69FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.75FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.78FRGAX Growth Allocation IndexPairCorr
  0.81FRESX Fidelity Real EstatePairCorr
  0.89FRIFX Fidelity Real EstatePairCorr
  0.94FRIMX Fidelity Income ReplPairCorr
  0.89FRINX Fidelity Real EstatePairCorr
  0.89FRIOX Fidelity Real EstatePairCorr
  0.89FRIQX Fidelity Real EstatePairCorr
  0.93FRHMX Fidelity Managed RetPairCorr
  0.94FRKMX Fidelity Managed RetPairCorr
  0.89FRIRX Fidelity Real EstatePairCorr
  0.83FRLPX Fidelity Freedom IndexPairCorr
  0.73FROGX Fidelity Municipal IncomePairCorr
  0.93FRQHX Fidelity Managed RetPairCorr
  0.94FRQIX Fidelity Income ReplPairCorr
  0.94FRQKX Fidelity Managed RetPairCorr
  0.95FRQAX Fidelity Income ReplPairCorr
  0.96FAASX Fidelity Asset ManagerPairCorr
  0.96FAAIX Fidelity Asset ManagerPairCorr
  0.79FACVX Fidelity ConvertiblePairCorr
  0.76FACTX Fidelity Advisor HealthPairCorr
  0.79FACNX Fidelity CanadaPairCorr
  0.9FACFX Fidelity Advisor FreedomPairCorr
  0.76FACDX Fidelity Advisor HealthPairCorr
  0.7FADTX Fidelity Advisor TecPairCorr
  0.64FADMX Fidelity Advisor StrPairCorr

Moving against Fidelity Mutual Fund

  0.54FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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