Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2050
FZTKX Fund  USD 14.08  0.12  0.86%   
The current 90-days correlation between Fidelity Freedom 2050 and Angel Oak Ultrashort is 0.05 (i.e., Significant 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

FidelityDowDiversified AwayFidelityDowDiversified Away100%

Very weak diversification

The correlation between Fidelity Freedom 2050 and DJI is 0.54 (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 2050 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 2050. 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 industry.

Moving together with Fidelity Mutual Fund

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.8FPURX Fidelity PuritanPairCorr
  0.66FPXTX Fidelity PennsylvaniaPairCorr
  0.93FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.87FQITX Fidelity Salem StreetPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.92FRASX Fidelity Income ReplPairCorr
  0.99FRGAX Growth Allocation IndexPairCorr
  0.63FRESX Fidelity Real EstatePairCorr
  0.79FRIFX Fidelity Real EstatePairCorr
  0.89FRIMX Fidelity Income ReplPairCorr
  0.78FRIOX Fidelity Real EstatePairCorr
  0.89FRHMX Fidelity Managed RetPairCorr
  0.9FRQIX Fidelity Income ReplPairCorr
  0.9FRQAX Fidelity Income ReplPairCorr
  0.7FAASX Fidelity Asset ManagerPairCorr
  0.71FAAIX Fidelity Asset ManagerPairCorr
  0.61FACGX Fidelity Advisor GrowthPairCorr
  0.87FADMX Fidelity Advisor StrPairCorr
  0.77FAFSX Fidelity Advisor FinPairCorr
  0.96FAFEX Fidelity Advisor FreedomPairCorr
  0.77FAFDX Fidelity Advisor FinPairCorr
  0.75FAFCX Fidelity Advisor FinPairCorr
  0.89FAFAX Fidelity Advisor FreedomPairCorr
  0.83FAGIX Fidelity Capital IncomePairCorr
  0.61FAGCX Fidelity Advisor GrowthPairCorr
  0.61FAGAX Fidelity Advisor GrowthPairCorr
  0.61FTF Franklin TempletonPairCorr
  0.84FAHCX Fidelity Advisor HighPairCorr
  0.63FALIX Fidelity Advisor LargePairCorr
  0.8FAMKX Fidelity Advisor EmergingPairCorr
  0.83FSAMX Strategic AdvisersPairCorr

Related Correlations Analysis

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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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