Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FASIX Fund  USD 14.44  0.02  0.14%   
The current 90-days correlation between Fidelity Asset Manager and PIMCO Active Bond is 0.34 (i.e., 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

Significant diversification

The correlation between Fidelity Asset Manager and DJI is 0.09 (i.e., Significant 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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.81FPURX Fidelity PuritanPairCorr
  0.89FPUKX Fidelity PuritanPairCorr
  0.81FPXTX Fidelity PennsylvaniaPairCorr
  0.96FQIFX Fidelity Freedom IndexPairCorr
  0.92FQIPX Fidelity Freedom IndexPairCorr
  0.9FQLSX Fidelity Flex FreedomPairCorr
  0.9FRBDX Fidelity Freedom 2070PairCorr
  0.9FRBEX Fidelity Freedom 2070PairCorr
  0.73FRBHX Fidelity Freedom 2070PairCorr
  0.85FRBJX Fidelity Advisor FreedomPairCorr
  0.68FRBKX Fidelity Advisor FreedomPairCorr
  0.84FRBLX Fidelity Advisor FreedomPairCorr
  0.86FRBOX Fidelity Advisor FreedomPairCorr
  0.69FRBPX Fidelity Advisor FreedomPairCorr
  0.9FRBQX Fidelity Flex FreedomPairCorr
  0.74FRBUX Fidelity Freedom IndexPairCorr
  0.92FRBVX Fidelity Freedom IndexPairCorr
  0.92FRBWX Fidelity Freedom IndexPairCorr
  0.89FRBZX Fidelity Freedom BlendPairCorr
  0.92FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.89FRCFX Fidelity Freedom BlendPairCorr
  0.89FRCHX Fidelity Freedom BlendPairCorr
  0.71FRCKX Fidelity Freedom BlendPairCorr
  0.7FRCLX Fidelity Freedom BlendPairCorr
  0.71FRCNX Fidelity Freedom BlendPairCorr
  0.89FRCPX Fidelity Freedom BlendPairCorr
  0.9FRCQX Fidelity SustainablePairCorr
  0.91FRCRX Fidelity SustainablePairCorr
  0.91FRCVX Fidelity SustainablePairCorr
  0.9FRCWX Fidelity SustainablePairCorr
  0.9FRCYX Fidelity SustainablePairCorr
  0.73FRDDX Fidelity SustainablePairCorr
  0.9FRDEX Fidelity SustainablePairCorr
  0.94FRGAX Growth Allocation IndexPairCorr

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

FASMX
+ 1.0
FFANX
FFVFX
+ 0.99
FFANX
FFVFX
+ 0.98
FASMX
VCRB
+ 0.96
BOND
FASMX
+ 0.94
QQQI
FFANX
+ 0.93
QQQI
  

High negative correlations

BTC
- 0.54
BOND
FIFGX
- 0.44
BTC
VCRB
- 0.43
BTC
FFANX
- 0.38
BTC
FFVFX
- 0.34
BTC
FASMX
- 0.34
BTC

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BOND  0.16  0.01 (0.21) 1.93  0.12 
(0.17)
 0.29 
(0.29)
 0.95 
BTC  2.44 (0.37) 0.00 (0.74) 0.00 
 0.00 
 4.16 
(3.78)
 11.46 
FIFGX  0.76 (0.01)(0.05) 0.03  0.95 
(0.76)
 1.56 
(1.55)
 3.67 
QQQI  0.68  0.04 (0.01)(7.45) 1.01 
(0.67)
 1.35 
(1.70)
 4.30 
FFANX  0.27  0.02 (0.09) 0.37  0.32 
(0.29)
 0.57 
(0.63)
 1.55 
FASMX  0.33  0.02 (0.06) 0.39  0.43 
(0.35)
 0.66 
(0.74)
 1.98 
FFVFX  0.22  0.01 (0.12) 0.31  0.24 
(0.25)
 0.48 
(0.48)
 1.28 
VCRB  0.15  0.01 (0.28)(1.16) 0.11 
(0.16)
 0.30 
(0.27)
 0.86 
FDCAX  0.85 (0.07) 0.00  0.31  0.00 
 0.00 
 1.35 
(1.82)
 10.86 
EQPGX  0.79 (0.02) 0.00 (0.44) 0.00 
 0.00 
 1.56 
(2.11)
 4.66 

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