Fidelity Asset Correlations

FTASX Fund

USD 30.25 0.20 0.67%

The current 90-days correlation between Fidelity Asset Manager and Oakmark Select Fund is 0.12 (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

Modest diversification

The correlation between Fidelity Asset Manager and DJI is 0.21 (i.e., Modest 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 real.

Moving together with Fidelity Mutual Fund

0.76	FQIFX	Fidelity Freedom Index	Pair Corr
0.65	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.64	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.68	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.67	FRBYX	Fidelity Freedom Blend	Pair Corr
0.82	FRASX	Fidelity Income Repl	Pair Corr
0.64	FRGAX	Growth Allocation Index	Pair Corr
0.83	FRIMX	Fidelity Income Repl	Pair Corr
0.64	FRQIX	Fidelity Income Repl	Pair Corr
1.0	FAASX	Fidelity Asset Manager	Pair Corr
0.77	FAAIX	Fidelity Asset Manager	Pair Corr
0.83	FAFAX	Fidelity Advisor Freedom	Pair Corr
0.7	FAGAX	Fidelity Advisor Growth	Pair Corr
0.77	FSANX	Fidelity Asset Manager	Pair Corr
0.76	FAMRX	Fidelity Asset Manager	Pair Corr

Related Correlations Analysis

	OAKLX	CPXIX	CEF	FUNYX	DHLYX	PAWAX	PNAIX	CSJZX	TLLIX	SWSSX
OAKLX		0.84	0.87	0.9	0.84	0.9	0.9	-0.32	0.83	0.76	OAKLX
CPXIX	0.84		0.73	0.74	0.61	0.82	0.83	-0.22	0.88	0.59	CPXIX
CEF	0.87	0.73		0.83	0.72	0.85	0.85	-0.45	0.7	0.58	CEF
FUNYX	0.9	0.74	0.83		0.72	0.75	0.75	-0.31	0.74	0.72	FUNYX
DHLYX	0.84	0.61	0.72	0.72		0.82	0.82	-0.04	0.7	0.81	DHLYX
PAWAX	0.9	0.82	0.85	0.75	0.82		1.0	-0.35	0.82	0.7	PAWAX
PNAIX	0.9	0.83	0.85	0.75	0.82	1.0		-0.35	0.82	0.71	PNAIX
CSJZX	-0.32	-0.22	-0.45	-0.31	-0.04	-0.35	-0.35		-0.09	-0.01	CSJZX
TLLIX	0.83	0.88	0.7	0.74	0.7	0.82	0.82	-0.09		0.77	TLLIX
SWSSX	0.76	0.59	0.58	0.72	0.81	0.7	0.71	-0.01	0.77		SWSSX
	OAKLX	CPXIX	CEF	FUNYX	DHLYX	PAWAX	PNAIX	CSJZX	TLLIX	SWSSX

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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

PNAIX	+ 1.0	PAWAX
FUNYX	+ 0.9	OAKLX
PAWAX	+ 0.9	OAKLX
PNAIX	+ 0.9	OAKLX
TLLIX	+ 0.88	CPXIX
CEF	+ 0.87	OAKLX

High negative correlations

CSJZX	- 0.45	CEF
CSJZX	- 0.35	PNAIX
CSJZX	- 0.35	PAWAX
CSJZX	- 0.32	OAKLX
CSJZX	- 0.31	FUNYX
CSJZX	- 0.22	CPXIX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OAKLX	0.66	0.07	0.07	0.14	0.63	(0.72)	1.66	(1.03)	3.46
CPXIX	0.08	0.01	(0.38)	9.10	0.00	(0.12)	0.16	(0.16)	0.56
CEF	1.55	0.36	0.15	0.66	1.97	(1.73)	3.32	(3.24)	10.43
FUNYX	1.08	0.25	0.31	0.20	0.60	(1.36)	1.30	(1.48)	26.29
DHLYX	0.57	(0.04)	(0.08)	0.02	0.66	(0.63)	1.25	(1.21)	2.86
PAWAX	0.79	0.07	0.10	0.13	0.76	(0.91)	1.71	(1.42)	11.40
PNAIX	0.78	0.07	0.09	0.13	0.76	(0.90)	1.71	(1.41)	10.87
CSJZX	0.57	(0.06)	0.00	(0.28)	0.00	0.00	1.13	(1.48)	3.88
TLLIX	0.52	0.00	(0.01)	0.08	0.69	(0.52)	1.05	(1.13)	2.85
SWSSX	1.02	(0.03)	0.00	0.05	1.21	(1.07)	1.96	(1.94)	5.52

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