Fidelity Asset Correlations

Mutual Funds USA . 
Fund . Fidelity Asset Manager
FTCWX Fund  USD 13.61  0.03  0.22%   
The current 90-days correlation between Fidelity Asset Manager and Victory Rs Partners is 0.56 (i.e., Very weak 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 weak diversification

The correlation between Fidelity Asset Manager and DJI is 0.41 (i.e., Very weak 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 housing.

Moving together with Fidelity Mutual Fund

  0.99FPTKX Fidelity Freedom 2015PairCorr
  0.94FPURX Fidelity PuritanPairCorr
  0.93FPUKX Fidelity PuritanPairCorr
  0.85FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.92FQIPX Fidelity Freedom IndexPairCorr
  0.79FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.92FRAGX Aggressive GrowthPairCorr
  0.98FRAMX Fidelity Income ReplPairCorr
  0.98FRASX Fidelity Income ReplPairCorr
  0.93FRGAX Growth Allocation IndexPairCorr
  0.7FRESX Fidelity Real EstatePairCorr
  0.92FRIFX Fidelity Real EstatePairCorr
  0.97FRIMX Fidelity Income ReplPairCorr
  0.92FRINX Fidelity Real EstatePairCorr
  0.9FRIOX Fidelity Real EstatePairCorr
  0.91FRIQX Fidelity Real EstatePairCorr
  0.97FRHMX Fidelity Managed RetPairCorr
  0.97FRKMX Fidelity Managed RetPairCorr
  0.91FRIRX Fidelity Real EstatePairCorr
  0.92FRLPX Fidelity Freedom IndexPairCorr
  0.85FROGX Fidelity Municipal IncomePairCorr
  0.97FRQHX Fidelity Managed RetPairCorr
  0.98FRQIX Fidelity Income ReplPairCorr
  0.97FRQKX Fidelity Managed RetPairCorr
  0.98FRQAX Fidelity Income ReplPairCorr
  0.81FAASX Fidelity Asset ManagerPairCorr
  0.81FAAIX Fidelity Asset ManagerPairCorr
  0.69FACVX Fidelity ConvertiblePairCorr
  0.76FACPX Fidelity Advisor SumerPairCorr
  0.67FACNX Fidelity CanadaPairCorr
  0.97FACFX Fidelity Advisor FreedomPairCorr
  0.94FADMX Fidelity Advisor StrPairCorr

Moving against Fidelity Mutual Fund

  0.32FRPCX Fidelity Sai AlternativePairCorr

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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