Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FTYPX Fund  USD 27.39  0.25  0.92%   
Current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom Blend is 1.0 (i.e., No diversification benefit).Investors use its correlation structure to evaluate hedging opportunities and diversification potential.

Market Correlation Summary - Fidelity Freedom

Minimal diversification benefit
The correlation between Fidelity Freedom and Dow Jones is 0.91, which Macroaxis classifies as Minimal diversification benefit for the selected horizon. In portfolio terms, the overlap shows how much shared movement remains after combining both positions.
  
The contribution of each position to portfolio variance is a function of weight and correlation. Position sizing and allocation together define the portfolio construction approach. Comparing individual position volatility against portfolio-level volatility measures diversification.

Moving together with Fidelity Freedom Mutual Fund

  1.0VFFVX Vanguard TargetPairCorr
  1.0FAJTX American Funds 2055PairCorr
  0.99AAMTX American Funds 2055PairCorr
  0.92CCJTX American Funds 2055PairCorr
  1.0FDEWX Fidelity Freedom IndexPairCorr
  1.0FFLDX Fidelity Freedom IndexPairCorr
  1.0FDEEX Fidelity Freedom 2055PairCorr
  1.0FCTKX Fidelity Freedom 2055PairCorr
  0.93FFPHX Fidelity Freedom 2055PairCorr
  0.89CISGX Touchstone Sands CapitalPairCorr
  0.76DIS Walt Disney Earnings Call This WeekPairCorr
  0.82JPM JPMorgan ChasePairCorr
  0.66AXP American ExpressPairCorr
  0.78BA BoeingPairCorr
  0.77MSFT MicrosoftPairCorr
  0.62CSCO Cisco Systems Earnings Call This WeekPairCorr

Moving Against Fidelity Freedom Mutual Fund

  0.79XOM Exxon Mobil CorpPairCorr
  0.7T ATT IncPairCorr
  0.67VZ Verizon CommunicationsPairCorr
  0.4PFE Pfizer IncPairCorr

Related Correlations Analysis


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

FHFDX
+ 1.0
FHCDX
FHGFX
+ 1.0
FHCDX
FHJGX
+ 1.0
FHCDX
FHJFX
+ 1.0
FHCDX
FHJEX
+ 1.0
FHCDX
FHGFX
+ 1.0
FHFDX
  

High negative correlations

FHJEX
- 0.0
FHGEX
FHJFX
- 0.0
FHGEX
FHJGX
- 0.0
FHGEX
FHJKX
- 0.0
FHGEX
FHGEX
- 0.0
FHGFX
FHGEX
- 0.0
FHFDX

Risk-Adjusted Indicators

Fidelity Freedom Mutual Fund can look attractive on recent price action while risk efficiency lags the peer group. Risk-adjusted metrics help compare Fidelity Freedom's efficiency and downside exposure against peers on a like-for-like basis. These indicators are quantitative in nature and measure volatility and risk-adjusted expected returns across different positions.

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