Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTDWX Fund  USD 13.67  0.02  0.15%   
The current 90-days correlation between Fidelity Asset Manager and Blackrock Financial Institutions is -0.12 (i.e., Good 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 0.48 (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

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.7FPXTX Fidelity PennsylvaniaPairCorr
  0.74FQIFX Fidelity Freedom IndexPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.98FRASX Fidelity Income ReplPairCorr
  0.62FRESX Fidelity Real EstatePairCorr
  0.72FRIFX Fidelity Real EstatePairCorr
  0.88FRIMX Fidelity Income ReplPairCorr
  0.72FRINX Fidelity Real EstatePairCorr
  0.8FRIOX Fidelity Real EstatePairCorr
  0.78FRIQX Fidelity Real EstatePairCorr
  0.96FRHMX Fidelity Managed RetPairCorr
  0.96FRKMX Fidelity Managed RetPairCorr
  0.71FRIRX Fidelity Real EstatePairCorr
  0.7FROGX Fidelity Municipal IncomePairCorr
  0.97FRQHX Fidelity Managed RetPairCorr
  0.96FRQIX Fidelity Income ReplPairCorr
  0.97FRQKX Fidelity Managed RetPairCorr
  0.96FRQAX Fidelity Income ReplPairCorr
  0.61FACTX Fidelity Advisor HealthPairCorr
  0.97FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.63FRPDX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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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   
FIKBX
+ 0.99
SBFAX
SBFAX
+ 0.96
BTO
FIKBX
+ 0.95
BTO
SBFAX
+ 0.39
MCBXX
FIKBX
+ 0.38
MCBXX
BTO
+ 0.29
MCBXX
  
High negative correlations   
FIKBX
- 0.0
RGFIX
SBFAX
- 0.0
RGFIX
BTO
- 0.0
RGFIX
RGFIX
- 0.0
MCBXX

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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