Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FAASX Fund  USD 28.65  0.12  0.42%   
The current 90-days correlation between Fidelity Asset Manager and T Rowe Price is 0.83 (i.e., Very poor 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

Poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.76 (i.e., Poor 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 state.

Moving together with Fidelity Mutual Fund

  0.72FPTKX Fidelity Freedom 2015PairCorr
  0.82FPURX Fidelity PuritanPairCorr
  0.82FPUKX Fidelity PuritanPairCorr
  0.8FQIFX Fidelity Freedom IndexPairCorr
  0.89FQIPX Fidelity Freedom IndexPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.88FRAGX Aggressive GrowthPairCorr
  0.89FRGAX Growth Allocation IndexPairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  1.0FAAIX Fidelity Asset ManagerPairCorr
  0.82FABLX Fidelity Advisor BalancedPairCorr
  0.82FABCX Fidelity Advisor BalancedPairCorr
  0.73FACVX Fidelity VertiblePairCorr
  0.8FACPX Fidelity Advisor SumerPairCorr
  0.94FACNX Fidelity CanadaPairCorr
  0.83FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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